Clouds with Silver Linings as the New Scottish Private Residential Tenancy Starts
• Residential investment has proven to be an attractive proposition in recent years as rising demand has driven rents and yields higher.
• However, legislative and regulatory changes are going to prove to be a challenge to this sector (for small and large investors alike), especially tax changes and the start of the new PRT on 1 December. All investors should take professional advice on their portfolios to manage the new risks.
• The Scottish private residential sector is now in a very different place from the rest of the UK and the likes of institutional Build to Rent sector needs to be aware of this.
• The Scottish Government remains keen to attract private sector investment into real estate in Scotland and the new Rental Income Guarantee Scheme (RIGS) is part of this drive. Rettie & Co. have just been appointed to the Property Advisor Framework to advise the Scottish Government and the Scottish Futures Trust on the application of RIGS for specific BTR schemes.
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