mydeposits Jersey reappointed as island’s tenancy deposit scheme

Following a competitive tender process launched in February this year, mydeposits has been reappointed as the government-approved scheme administrator for Jersey’s tenancy deposit scheme.

mydeposits Jersey was first appointed by the Government of Jersey when the tenancy deposit scheme started in November 2015.  Since its inception, the scheme has protected more than 15,000 deposits, with the total value of protections equating to £19.9 million.

The contract goes through a re-tender process every five years and having met all the key performance indicators set by the Government, mydeposits Jersey has been reappointed based on good performance and the strength of its tender bid, including its commitment to strengthening support for landlords and tenants in Jersey’s rental market.

The scheme’s reappointment will take effect from 31 October 2020 and last for a maximum of five years – three years with an option to extend for a further two years depending on the continued good performance of the scheme so far.

mydeposits is the only scheme to operate throughout the UK, Northern Ireland and Jersey. Eddie Hooker, CEO of mydeposits, comments:

“I am delighted that mydeposits has been reappointed as Jersey’s scheme administrator. This extension is a testament to the hard work and commitment the team has put in over the past few years to make the scheme a success. This decision by the Minister will enable us to continue investing in the scheme and enhancing the service we provide to our customers in Jersey, for example, running workshops and helping agents reduce disputes.

We are looking forward to further strengthening our relationships with our customers and building on our work on the island so that all tenants benefit from deposit protection. We are passionate about raising standards across the rental sector in Jersey, supporting landlords and tenants to adopt good practice in the handling of deposit money, and will continue to work closely with the Jersey Government to support them in their valuable work.”

The Minister for Children and Housing, Senator Mézec, said: “I am entirely supportive of the mydeposits Jersey tenancy deposit scheme and the protection it gives tenants and landlords, and am pleased to extend the agreement for a second time. The scheme provides an effective way to manage deposits and resolve any disputes between landlords and tenants.

“I will continue working to improve standards in Jersey’s rental sector and I am confident that mydeposits Jersey will be a key partner in this work, as it has been since the scheme was launched in 2015.

This has been true more than ever during the COVID-19 outbreak, when tenants and landlords may have been facing personal and financial hardship. It has been important that all parties take a responsible approach to managing tenancy issues. It is encouraging to know they will continue to have access to the certainty, support and protection provided by the mydeposits Jersey scheme.”

ENDS

Contact mydeposits’ Public Relations
Helen Evison, The Inhouse Way PR, t: 01276 804411, m: 07920516577

Notes to Editor
mydeposits has been protecting deposits since 2007. It is the only scheme which runs government authorised and licensed tenancy deposit schemes in England, Wales, Scotland, Northern Ireland and Jersey.

With over 250,000 members, mydeposits is the preferred deposit protection scheme for many landlords and agents through the UK.

mydeposits Jersey was granted a licence in the Summer of  2015 by the States of Jersey to run a Tenancy Deposit Scheme after an extensive period of consultation.

Landlords in Jersey have been legally required to protect their tenants’ deposits by placing them in the scheme since November 2015. The scheme aims to give tenants greater confidence that the deposit they have paid is being held securely and independently and will be repaid smoothly at the end of a tenancy.

mydeposits provides a free and independent alternative dispute resolution service to help when landlords and tenants are unable to agree over the return of a deposit, and ensures deposit disputes are resolved quickly, effectively and fairly.