8:25 AM, 30th November 2017, About 5 years ago 23
From the 1st of December 2017 the new PRT ( Scotland ) kicks in, laying rest to the AST.
One of the key toxic terms enshrined in this new set up is – there is no fixed period for the tenant.
There is no lock in for tenants, they can give 28 days notice and up and leave. No peace of mind for the landlord regarding income streams. South of the border you have had section 24, north of the border we have had section 24, the new PRT ( cant kick a tenant out under the no fault clause) and the specter of rent controls. You think you have it tough ?
I rent out principally to students who normally have a 9 month term duration. To cover my annual rent and void periods the natural solution is to have rent 12/9 (annual rent paid over 9 months). The rent at that level would appear daunting – adding 30% to the advertised arrangement.
The question is – can I construct a rent schedule of 12/9 payment with 3 months rent free and not fall foul of some ambulance chasing lawyer claiming that this is a fixed period tenancy like the old AST s.
Opinions and views greatly accepted.
Frankly Scotland is a basket case run by the lunatic fringe. Everybody and I mean the entire population here is deemed “venerable” with every non nonsensical legislation being passed under this umbrella. The no lock in clause was based on the premise there maybe an abused partner who cannot leave a property as the fixed period aspect of the lease would place such a person in harms way.
I wish I was making this up but I followed very carefully the lead up to this legislation, the arguments presented by the ultra left quasi political lobbying group masquerading as a charity SHELTER and the silent representation by landlords ( because they are too busy complying with endless volume of legislation to run their affairs )
If you have leanings of exercising personal responsibility , wanting to stand on our own 2 feet and not relying on the state for your economic well being, I suggest one and all to think twice about moving up here.
I understand we have a North Korean delegation visiting our Parliament to advise us further on how the Private Rented Sector should be further developed. I do believe I read somewhere that imprisoning landlords for crimes against the state is to be introduced in an upcoming bill.