The decision has been made to keep mydeposits as the government-approved scheme administrator for Jersey’s tenancy deposit scheme.
The contract is set up to go through a re-tender process every five years, beginning in November 2015 when the tenancy deposit scheme first started. Since it was introduced, more than 15,000 deposits have been protecting, equating to a total value of £19.9 million.
Having met all of the key performance indicators set by the Government, mydeposits Jersey has been reappointed based on good performance and the strength of its tender bid. This includes its commitment to strengthening support for landlords and tenants in Jersey’s rental market.
The reappointment of mydeposits will take effect from 31st October 2020 and last for a maximum of give years. The contract runs for a standard of three years with an option to extend for a further two years, depending on the performance of the scheme over that period.
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 to 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.”
The three government-approved tenancy deposit schemes for England and Wales are:
The three approved schemes for Scotland are:
The three approved schemes for Northern Ireland are: