The Herald - The Herald Magazine
THE VOICE OF PROPERTY
NEWS that the government is considering introducing three-year minimum tenancies into the private rented sector south of the border as a way of giving renters greater security of tenure has been well received by Build to Rent (BTR) firms such as Moda, which operate throughout the UK. However, the Scottish Government has gone further than the proposal for England with its new Private Residential Tenancy. “As an open-ended tenancy landlords cannot evict a tenant simply because their tenancy agreement has reached its end date,” says a Scottish Government spokesperson. “To evict a tenant, a landlord must use one or more of the 18 new, modernised grounds for repossession. This improved security of tenure means tenants can feel more settled in their homes and will enable people to exercise their rights without fear of arbitrary eviction.”
According to independent property consultancy Galbraith, the major legislative changes recently introduced in Scotland’s letting sector – ie the replacement of Short Assured Tenancies by Private Residential Tenancies and from January 31 this year, the introduction of a new code of practice and mandatory register for letting agents – are a major turning point. Galbraith partner Bob Cherry, who manages lettings activity for the firm, says: “Essentially these two changes combined will bring increased professionalism to the letting sector, particularly in terms of how letting agents operate. Property is still viewed as one of the most popular and safest forms of investment and, with the right advice, can offer landlords a very appealing and longterm investment option given the continued shortage of good quality housing supply.”
PIER PRESSURE
KEEN sailors might be tempted by Pier Cottage and the Old Smokehouse on the shore of Loch Striven, currently for sale as Lot 3 of Glenstriven Estate. This picturesque cottage occupies an idyllic two-acre setting and has two bedrooms, two bathrooms, sauna, kitchen and living room with a further bedroom and bathroom in a separate building. Offers over £325,000 are sought by Strutt & Parker’s Edinburgh office.