Propertymark says some 85 per cent of its member agents in Scotland have landlord clients who have expressed a wish to withdraw from the private rented sector and sell their properties.
It says that it’s even more worrying that 68 per cent of agents have already seen an increase in notices to sell due to the temporary measures such as rent controls introduced north of the border.
In addition some 83 per cent of agents that stated that they would increase rents to reassure landlords they can cover rental loss as well as maintenance, utilities and mortgage interest hikes.
Propertymark believes that the legislation changes introduced are disproportionate to the scale of the problem in Scotland, with many of its member agents saying that landlords did not raise rents in the last year.
Other key statistics are that 87 per cent of agents said that landlords had no desire to increase their portfolio, and 86 per cent of agents said that landlords came to them for advice on legislation.
Commenting, Timothy Douglas, head of policy at Propertymark, says: “The measures introduced under the cost of living legislation are disproportionate to the scale of the problem and have only driven more landlords out of the sector.
“Feedback from Propertymark members shows that because of the measures introduced by the Scottish Government the desire for landlords to remain in the sector and increase the number of homes for people to rent is stalling.
“Alarmingly, the temporary nature of the legislation means that the impact is not fully realised yet but if the changes are extended then there will be greater consequences.
“The private rented sector is a key solution to resolve the housing crisis but if the Scottish Government continue with policies that disincentive landlords this will only make the situation worse.”
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Well that is a surprise /s
Well for one I am shocked and stunned 😳 Just which Nostradamus could have predicted this 🤔🤔 Oh I know … every single landlord 😂😂
Who would want to own and let property in a place where costs are spiralling but you are not allowed to increase rent and not allowed to evict tenants who don’t pay their rent? Utter madness to have such state intervention in a private market.
I'm a landlord in Scotland.. Im not at all surprised with this survey.
I'm not against housing stock quality controls if done realistically and fairly. But what other business sector has price controls.
If the government want to support people during the cost of living crisis, then do it across the board. If you cap rents, then cap mortgage Interest rates. If subsidies energy companies then subsidies rents.
Anyone with a mortgage in Scotland with variable rate will be paying more for their accommodation, if renting you're protected.. How can that be fair?
I stopped renting to families when the SNP banned landlords and tenants from agreeing mutually acceptable fixed term tenancies in December 2017 and now only let to groups of students who won't stay long term and often change flat mates giving the opportunity for increasing rents on a new tenancy agreement.
My rents have stayed at around £525 per room per month since 2017 and whilst it was top end then, many rents are now £575 or more.
I usually have a new tenancy agreement every June when I am allowed to increase rents and will be doing so as much as possible next June and every June thereafter.
Tenants can thank the SNP for my abandoning my policy of letting continuing tenants stay on at the same rents when new flat mates join on a new tenancy agreement.
Once bitten twice shy!
We have our very own red Mr John McDonnell Housing Secretary in disguise as Mr Michael Gove who has done so much damage, suffering and caused endless homelessness Shame on you.
I wonder how bad things have to get before these policy makers will wake up and realise what they have done. By then it will be too late and it will take years to build the rental housing stock back up again, it it's even possible.
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