With the launch of my new website just in time for Christmas, I wanted to take the opportunity to write my first blog.
Private Rental Tenancy (PRT)
The start of this month has seen arguably one of the biggest changes to hit the sector with the launch of the PRT (Private Rental Tenancy). From 1st December all tenancies must be issued using new tenancy documentation and with it comes greater clarity and protection for both tenants and landlords alike.
One notable change with the PRT is that it does not allow tenants and landlords to agree either a minimum lease duration for the lease or include an end date.
A start date will be agreed with the tenancy continuing indefinitely until terminated by either landlord or tenant in accordance with the legislation.
Tenants wanting to leave must give their landlord 28 days notice in writing and can do so any time after the start date. Landlords,however, can only end the tenancy if one of 18 prescribed grounds for possession apply. The notice period for the majority of grounds is 28 days if the tenant has been in residence for 6 months or less and 84 days if more than 6 months.
If any landlords or tenant clients have any queries regarding these changes, please drop me a line.
Professional Qualifications for the sector
And 2018 will bring further change with the Scottish Government’s introduction of mandatory compliance and regulation of letting agents to help improve service and professionalism within the industry.
All letting agents that wish to continue offering their services to the market must be independently assessed as ‘fit and proper’ and adhere to a statutory code of practice.
Relationships are key
There’s no doubt that the new tenancy regime and the mandatory qualifications will provide greater protection that could very well see some operators leave the market.
The best letting agents will though continue to thrive as they have always done - by providing a service built on trust, honesty, reliability and professionalism.