BDC

New Tenancies Bill must balance needs of tenants, landlords and investors if capacity of fast growing PRS sector to be expanded

Scotland’s Private Rented Sector (PRS) Champion Gerry More has broadly welcomed the further clarity given by today’s publication of the Private Housing (Tenancies) Bill but emphasised the importance of balancing the needs of tenants, landlords and investors if the Scottish Government is to achieve its objective of significantly expanding capacity in this fast growing sector.

Having been tasked with attracting long-term institutional investment to enable the development of professionally managed purpose-built private rented housing at scale, Mr More said:

“There is much to be welcomed in today’s announcement on updating the tenancy regime with initial rents continuing to be market-led.

“However, we now need to work through the detail, particularly in relation to the use of rental caps and how student tenancies are ended, in order to ensure Scotland remains competitive relative to other countries.

“The Scottish Government is working with the sector on a cohesive range of measures including exploring the development of a rental income guarantee mechanism and the Chief Planner has also this week sent a letter to Local Authority heads of planning encouraging them to consider the role new build PRS homes can play in meeting housing need and demand in their areas.

“Scotland needs a modernised system which helps increase the supply of much needed housing. I therefore look forward to continuing positive discussions with the Scottish Government on how this can be achieved.”

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BDC 301 February 2023