RICS calls for balance in the private rented sector
The Royal Institution of Chartered Surveyors in Scotland has called for a balanced approach to the country’s private rented sector reforms.
Following the publication of industry figures released by Citylets, Sarah Speirs, director at RICS Scotland, said the proposed no fault grounds for repossession and the suggestions of rent controls within the Scottish private rented sector need to be “approached with caution”.
She added: “The Second Consultation on a New Tenancy for the Private Sector is an opportunity for the Scottish Government to create a balanced system that provides security for a tenant, encourages inward investment and safeguards landlords.
“For this to be realised, rents must be free to follow the market. Removing the automatic right of landlords to end tenancies at their end date is likely to prove a barrier to new investment in the sector and could result in smaller landlords leaving the market, at a time when supply is critically low.”