Two of Edinburgh’s leading private letting agents, Umega Lettings and Murray & Currie, have chosen to switch from their current tenancy deposit schemes to SafeDeposits Scotland, the country’s largest provider.
The combined value of deposits transferred to SafeDeposits Scotland by the two companies is over £1.5m. Completed last week, this represents the largest group of transfers in SafeDeposits’ history. The firms cite expert local knowledge, insight of the Scottish market and excellent customer service as reasons they left their previous schemes.
SafeDeposits Scotland is one of three independent tenancy deposit schemes approved by the Scottish government which protects deposits until they are due to be repaid. Set up in 2012 SafeDeposits currently holds approximately 60% of Scottish deposits and is the only Scotland-based scheme. It is also the sole Scottish scheme which is not-for-profit.
The company has a dedicated landlord and letting agent team based in Glasgow who provide expert advice to agents and landlords. It has also designed and built an online system specific to the Scottish market for clients to manage their accounts.
The scheme is free to use for tenants and landlords. Any surplus profit made by interest on the deposits held goes to the SafeDeposits Scotland Trust which aims to improve education and training in the Scottish private rental market.
SafeDeposits Scotland now holds over £1m pounds of deposits for letting agent Murray & Currie.
The company’s Steven Currie believes the link-up has proved to be a wise move, saying: “The relationship with SafeDeposits Scotland is something that they value and trust. The synergy, energy and desire to succeed in delivering positive results for both landlord and tenants is clear to see.
“We consistently find them to be efficient, forward-thinking and open. Their integrity and professionalism makes our relationship a strong one and we highly recommend SafeDeposits as Scotland’s deposit experts.”
Emma Struthers from Umega Lettings echoed Murray & Currie’s reasons for moving to SafeDeposits Scotland. With over £550,000 in deposits with SafeDeposits it believes that it has made the right choice.
Ms Struthers said: “We feel that our tenancy deposits are in good hands with SafeDeposits. Instantly recognisable, the brand is the one tenants and landlords want to hear about when we discuss tenancy deposit schemes.
“We’ve always found the team incredibly knowledgeable and helpful, no matter what our query may be. They approach things from a practical point of view, making things easier at our end. SafeDeposits is an absolute breath of fresh air to work with and they provide complete peace of mind for our landlords and tenants alike.”
Jen Paice, CEO of SafeDeposits Scotland said: “We work hard in being the best tenant deposit scheme in Scotland and it is heartening for companies such as Umega and Murray & Currie to recognise that by moving their business to us.
“Being based in Scotland and employing a team of specialists with years of experience of local lettings means that we’re able to offer a level of service that other firms aren’t able to give. Not only do we know the Scottish market better than others, we are exceptionally well placed to know what’s on the horizon.”