Jersey Introducing Tenancy Deposit Protection Scheme

By Fernand Gagnier, for ExpatBriefing.com 23 September, 2015

Expats in Jersey will soon benefit from the introduction of a new tenancy deposit scheme.

The scheme was agreed by the States Assembly last year. Following a tender process, Mydeposits Jersey has now been appointed to administer the scheme.

The scheme will begin operating in November this year and will mean that landlords will pass on deposits paid by tenants to Mydeposits Jersey, which will hold the deposit for the duration of a tenancy. The scheme aims to give tenants greater confidence that the money they have deposited is held securely and will be repaid, minus agreed deductions, at the end of a tenancy's term. A promotional campaign will be carried out to ensure the public is aware of how the scheme will work and that both landlords and tenants fully understand their rights and obligations before the scheme begins to operate.

Housing Minister Deputy Anne Pryke said "This appointment is the next step towards all tenants' deposits in Jersey having greater legal protection. The States have been working for many years to get to this point and I am delighted that we will now be in a position to operate this scheme."

Mydeposits Jersey will also provide a free and independent dispute resolution service to mediate in disputes between landlords and tenants. Although both parties will still have the option of legal action, it is hoped that the new provision will give people greater confidence that disputes can be resolved quickly, effectively, and fairly.

The regulations are part of a continuing program of work being undertaken by the Strategic Housing Unit, which is modernizing the statutory framework for the residential rental sector in Jersey.

Tags: Finance | Real-estate | Jersey | Regulation | Employment | Expats | Immigration | Personal Finance | Working Abroad | Work | Working Abroad | Lifestyle | Immigration | Lifestyle | Working Abroad |

 





News Archive