As the 31st of October draws near and frankly we seem no closer to knowing what the outcome of the last three years negotiations might be , this is a good time to appraise what if any impact the uncertainly has had on Scotlands PRS. The data seems to suggest that the answer is none whatsoever which is not entirely surprising. Tenants still need flats and landlords still need tenants it was ever thus. Things might change if the UK were to go into recession but theres no sign of that happening and in fact the indicators all point to a growing private rented sector in Scotland with rents at record level highs. Edinburgh seems to have its own life support system pumping oxygen into the market with big student numbers swelling demand for HMO properties and average rents ( non HMO ) peaking at around £1200 a month. Would be landlords take note ! It is fair to say that there are fewer new landlords entering the market just now which is probably Brexit related but once the dust settles that position will probably go into reverse. Where else are you going to get yeilds of 5 and 6 percent on your investment and a decent underlying rate of growth in the value of your purchase. Looking at time to let , its all very subjective. The better presented the property , the quicker it lets. Some go in a day others take a month. A bit of pre letting preparation can have a big effect and clean , fresh flats create the right impression. If any landlords out there want an appraisal as regards what could be done to improve their properties on a budget please get in touch. Anyone watching the news recently will have seen a number of reports on the acute shortage of affordable housing throughout the UK but Scotland is doing pretty well on that subject with some exceptional new projects coming to completion under the Build to Rent scheme. Credit is due to the National Housing Trust and the Scottish Futures Trust supported by the Scottish Government.
Home Trick or Treat.