An MP is calling on the authorities to investigate how 15 so-called ‘super landlords’ allegedly dominate the rental market in one city.
A Freedom of Information request by the Edinburgh Evening News has apparently discovered that just 15 landlords own some 5,300 private rented homes in the city – with one landlord alone reportedly owning 1,010 properties.
The FOI probe has also discovered that 26 per cent of the HMOs in Edinburgh are owned by just a dozen super-landlords.
The paper quotes local Scottish National Party MP Tommy Sheppard as saying: “Private rented homes can bring in big profits. We need more of an investigation into the private rented sector and these ‘super’ landlords.
“We need to know more about who they are. The council and government needs to look at this in more detail.
“If there are super landlords there’s potentially an argument for ‘super’ regulation. There’s also an opportunity here to work with these landlords to drive up standards and make renting fairer and more affordable.
“The bottom line is we don’t have enough homes. There’s a case here for looking at a requirement for a percentage of private rented properties to be affordable, in the way that developers have to do for new builds.”
The newspaper also speaks with letting agent Yvonne King of King Sisters Letting, who says: “There is a crisis because there’s not enough properties to meet demand. Rent rates came down during Covid then when students got notice to return to their courses in September last year it went crazy.
“We were inundated. It forced rent rates up. We had a one bed flat in Leith going for £700 and it’s now £850. Rents are going up partly because of a jump in sales prices. But there’s an economic equilibrium.
“If only a small number of individuals own many properties it does means that stake allows them more control in helping set market rates for rent.”
Last summer the Edinburgh rental market became one of the hottest in the UK and has stayed that way ever since.
One lettings agency – DJ Alexander – said it let a property with an asking rent of £7,000 a month has let in just one day, and the same firm saw 78 viewings on an HMO unit listed to let.
“We are seeing unprecedented demand in the private rented sector. With the opening up of the economy over the last few months activity was already building steadily but in the last few weeks it has now increased substantially” says agency director David Alexander.
“Letting a £7,000 per month property in just one day is unusual at the best of times but this is not, by any means, an isolated incident at the moment.
“Properties are flying off the market in a matter of days following listing. We are finding enormous pent-up demand from tenants who are acting immediately a property is listed.
“That the HMO we had on our books had 78 viewings is a further sign that the market has suddenly exploded into life.”
