On the 1st December 2017 the Scottish government have released a new tenancy agreement (PRT), which replaces all assured and short assured tenancies. Therefore, any new tenancy that started on or after 1st December 2017 will be a Private Rented Tenancy.
So what’s new?
- No more fixed terms, tenancies will be open ended
- Structured notice periods
- Removal of the ‘no fault’ ground for possession. Landlords must apply on one (or more) of the 18 grounds for possession to end a tenancy
- Rents can only be increased once every 12 months, and tenants must be given three months notice
- Model tenancy agreement published by the Scottish Government
This is a bold move which will is aimed to improve the private rented sector by providing increased security, stability and predictability to tenants and safeguards for landlords, lenders and investors.
What happens to existing tenancies?
The new structure doesn’t affect existing tenancies (including those renewing on a contractual basis, which are typically rolling monthly). They will carry on until terminated by the tenant, landlord or agent.
At Lomond we are fortunate to work with SME Professional, who provide our in depth rental management system. All legal documents provided by SME are approved in advance by Lindsays Solicitors, based in Edinburgh.
Notes on the new PRT for tenants and landlords can be found in the following links:
For further information, or to the discuss the changes to tenancy agreements in Scotland, please contact our Rental Director Stephen Spence at email@example.com or on 01292 280855