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

bank of england interest rate
Breaking News

Bank of England Money and Credit – December 2024

These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals rose by £1.0 billion, to £3.6 billion in December. Net…
Read More →
Breaking News

Housing market gets off to its strongest start in three years, with new sales agreed up 12 per cent on 2024

The 2025 sales market has got off to a stronger start than in 2024 or 2023 with buyer demand up 13 per cent and 10 per cent more homes for sale Rising sales are supporting UK house price inflation which is +2.0 per cent in the year to December 2024, compared to -0.9 per cent…
Read More →
for sale sign london
Breaking News

Westminster council must outline how their proposals on property boards will not hinder market

Westminster City Council must explain how their proposals to renew the existing Regulation 7 Direction and expand it to the whole borough will not hinder the sales and lettings markets, Propertymark argues. At present, some areas of Westminster are subject to a Regulation 7 Direction, which means consent from the Council is needed to display…
Read More →
Breaking News

National Federation of Builders View on Chancellor’s Speech

At the Autumn Budget 2024, Chancellor Reeves scaled back her interference in the planning process. However, in her speech today, she returned to the position that a well-functioning planning system is crucial to not only enabling growth but, more importantly, sustaining it. Richard Beresford, Chief Executive of the National Federation of Builders (NFB), commented: “The…
Read More →
Letting Agent Talk

Landlords and Tenants: A Balanced Relationship in the Private Rental Sector (PRS)

New findings from Leaders Romans Group’s (LRG) latest survey reveal a balanced picture of landlord-tenant relations in the UK. Contrary to negative stereotypes often portrayed, the data shows that tenants view their landlords positively while highlighting areas for improvement in communication and responsiveness. The survey found that 55% of tenants believe their landlord provides quality…
Read More →
Estate Agent Talk

Government Correct to Head Off Climate and Nature Bill

The ‘Climate and Nature Private Members’ Bill’, brought forward by Dr. Roz Savage MP, seeks to set new legally binding targets for climate and nature, as well as give the Secretary of State a duty to implement a strategy to achieve these targets. The National Federation of Builders (NFB) has worked closely with Government’s old…
Read More →