Scotland Leads Way On PRS Regulation

Scotland Leads Way On PRS Regulation

Better Regulation Of Scottish Private rented Sector On Way

As we reported on Wednesday, the Scottish government reviewed its strategy on PRS regulation on the 30th May and more new legislation will definitely be on the way, however, landlords and letting agents will be an important part of the consultation

The Scottish Government said that it “does not have a monopoly on good ideas. In order to deliver on the vision for the sector, we will engage with all of our partners on their innovative ideas.”

The Scottish Government PRS regulation strategy intends to improve the quality of the private rented sector in Scotland, including redefining the landlord registration scheme in order to target the worst offenders.

In 2011 it was estimated that some 11% of all households were within the PRS and the Scottish Government predict that this number will increase as there are already 500+ letting agencies north of the border who are managing over 150,000 rental properties, estimated to be about half the actual number.

Scotland The Brave

The Scottish private rented sector is already more tightly regulated than in England, and Scotland are leading the way when it comes to reform. Since November 2012, letting agents are unable charge fees to tenants and from May 2013 tenants had to be provided with an information pack. However, mandatory tenancy deposit protection was not introduced in Scotland until last year.

Ian Potter, ARLA managing director, said: “We welcome the proposals. We look forward to working with the Scottish Government on furthering these actions, to ensure tenants and landlords are better protected. ARLA has been calling for PRS regulation across the UK for a number of years and, as more and more people rent rather than own their home, it is vital that legislation is introduced.”

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