Included within the law is a requirement for Scottish Ministers to report on the impact of the legislation. This means that every three months Scottish Ministers must review and report on the need for the measures in the Act to either be continued or to end based on the evidence available at the time.
In November, Patrick Harvie MSP wrote to Propertymark asking us to provide feedback on behalf of property agents across Scotland. We commissioned a survey and report the results here, which were also returned to the Scottish Government on 8 December 2022.
New measures encourage landlords to sell
90 per cent of agents reported having landlords express a desire to withdraw their property from the PRS specifically because of the new measures. Of this 96 per cent wanted to sell, 2 per cent to transfer into holiday lets, and 2 per cent other reasons.
Further to this, 69 per cent of agents reported having an increase in Landlords serving notice in order to sell because of the new measures. Of all the notices served to tenants, an average of 44 per cent do not meet the exemption criteria and are awaiting processing from April 2023.
Landlords now more likely to raise rents
91 per cent of agents reported that their landlords are now more inclined to raise rents between tenancies as a result of the measures.