From the first of December 2017, all new Scottish tenancies must be Private Rental Tenancies (PRTs).
Short Assured Agreements (SATs) will be replaced, and although existing agreements will continue unaffected, the PRT will be used for all new tenancies.
Under the new PRT, tenants are no longer bound to a minimum term and will be able to leave a property at any time by giving 28 days’ notice in writing.
Landlords will lose their right to “no fault” grounds for possession which previously allowed them to take back their property without giving a reason. Now they will have to end a tenancy using one of 18 statutory grounds, including a tenant’s anti-social behaviour or failure to pay rent for three consecutive months. Other reasons a landlord may end a tenancy is to move into the property themselves, or to sell it.
And the changes to Scottish rental market regulation don’t end there. The upcoming introduction of the Letting Agent Code of Practice in Scotland means that all letting agents will shortly need to join a register and hold qualifications. The Code of Practice is being introduced to help protect landlords and tenants and eradicate poor quality housing. The Register is expected to open in January 2018 and the deadline to join will be September 30, 2018.
Dwellworks consultants are keeping ahead of this raft of changes to legislation in Scotland. Our local team will ensure that we continue to work with reputable, compliant agents, thus protecting our corporate clients and their employees.