Scottish landlords could give up their portfolios or reduce the amount of properties they hold if new proposals come into force north of the boarder.A recent survey by Citylets has discovered that up to a third of landlords in Scotland could leave the private rental sector if the repossession laws are altered.
Citylets questioned landlords in relation to reform proposals from the Scottish government which would consider changing standard tenancy agreements. If the new laws were to come into force, landlords in Scotland would only be able to repossess homes after a fixed term let has ended. Under the planned changes tenants would have a right to challenge rent rises and the government would be able to cap top level rent charges in certain hot-spot locations.
The Citylets survey questioned 500 landlords and found that 31% of urban landlords would either reduce the size of their portfolios, or sell up completely, if the ‘no fault’ grounds for repossession are removed. 39% are likely to leave the sector or cut back their investments if rent caps are introduced and 73% of those questioned said they felt ‘vilified’ by policymakers.