The Jersey Government has signed contracts with tenancy deposit protection (TDP) scheme mydeposits Jersey to protect tenants’ deposits from being unfairly withheld at the end of the tenancy.

The new scheme will mean that landlords and agents in Jersey will now have to protect their tenants’ deposits with mydeposits within 30 working days of receiving it or risk financial penalties of up to £2,000.

It’s expected that the introduction of the legislation will help to reduce the number of deposit issues that occur in Jersey, as figures from the Jersey Citizens Advice Bureau suggest that almost 10% of all housing issues relate to rental deposit disputes.

The scheme goes live on the 2nd November 2015.