What effect will PRT’s have on Edinburgh Festival Lets

March 1, 2018

There are no grounds in the PRT that give landlords or letting agents the ability to evict a tenant to enable a property to be rented out for the Festival. The usual practice of securing Festival tenants in January, February and March will no longer be possible from 2019 with the uncertainty of tenants’ plans.

Let me explain.

In August and September 2018. At ACE Property we will be singing up our students. Most likely all into HMO properties. These leases will have no fixed term and must be ended by using one (or more) of the 18 Grounds for eviction (which you can read about here https://www.acepm.co.uk/page.php?page=129 ).

There are no grounds that give landlords or letting agents the ability to evict a tenant so a property can be rented out for the Festival. We can communicate with tenants during their lease however the tenant is well within their rights to stay in the property and give 28 days notice when they need to leave.

2019 will see the practice of securing Festival tenants in January, February and March become no longer possible with the uncertainty of the tenants plans.

The new PRT tenancy means that we may start seeing tenants issuing their 28 days notice at different times during the year depending on their university schedule and personal situations.

Do not panic!

Our industry will adapt and move forward. We need to embrace the change and play the cards we have been dealt by the Scottish Government.

Landlords that are used to Festival Letting their properties need to prepare for August 2019 as the August rent rise that they may be used to might simply become a regular month’s rent.

Written by Alan Nash – alan@acepm.co.uk

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Kerb appeal
Estate Agent Talk

Why November and December are the best and most affordable months to buy

Buyers and sellers looking for the right time to move can consider top reasons from property experts to start the process this November and December. The autumn and winter months may not be the first that come to mind when considering a move, but potential buyers and sellers can be reassured by the experts that…
Read More →
Breaking News

Farmers protest outside Westminster today in anger at the IHT ongoing debate – expert legal view

With today’s news about farmers set to protest outside Westminster in anger at the IHT ongoing debate, Tom Gauterin, Director at national law firm Freeths, said: “Although it is good to hear Mr Reed last week suggest that the Government is listening to farmers, today’s protests would suggest otherwise with the extent of their concerns…
Read More →
Love or Hate Rightmove
Breaking News

Bank Rate cuts boost optimism for 2025 despite Budget pause

Average new seller asking prices drop by 1.4% (-£5,366) this month to £366,592, a bigger fall than the usual, seasonal 0.8% drop seen at this time of year, likely due to pre- and post-Budget jitters However, despite the dampening effect of the Budget, market activity remains stronger than last year as Bank Rate falls: The…
Read More →
Breaking News

How to market to Estate Agents UK

The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More →
Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →