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Tenants' Deposit Scheme update

13 April 2010

Progress is being made on developing a Tenants’ Deposit Scheme for Jersey.

The Housing Minister is presenting a further report to update the States and Islanders today (13 April 2010). In particular, Senator Terry Le Main is seeking expressions of interest from Jersey registered and based companies who could manage a Tenants’ Deposit Scheme.

“I’m pleased to say that we have made good progress” said Senator Le Main. “We’ve been working on the necessary legislation and are now publicly seeking local companies who may be able to establish and manage a scheme of this size.”

The Minister has previously expressed a preference for a custodial scheme to protect deposits – this is when deposits money is held by a third party provider until the tenancy ends. However, a final decision on how the scheme will work will be taken once discussions with potential providers have taken place.

“I remain committed to providing protection for tenants’ deposits and I’m keen to hear views from Islanders as it’s essential that we develop the right solution for Jersey.

“However, meeting everyone’s needs, especially in the current economic climate, will not be easy. In particular, any scheme needs to be self-financing and easy for both landlords and tenants to use. I sincerely hope that people, in particular landlords and tenants, will read these reports and send in any comments to the Population Office.”

Copies of the report are available from the States Greffe bookshop or online on the States Assembly website and comments are invited. As these proposals are developed more information will be available.

States Assembly website

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