The Scottish government has announced that it intends to extend the Cost of Living (Tenant Protection) (Scotland) Act regulations once again.
If voted for in parliament, the Act will be extended for a further six months to March 2024, the maximum amount of time allowed in the initial legislation.
The extension will apply to the current rent cap of 3% and the moratorium on evictions.
The announcement followed a meeting with Patrick Harvie, minister for zero carbon buildings, active travel and tenants’ rights, attended by the Propertymark policy team.
The industry body said that Scottish landlords and letting agents will be disappointed to see that its evidence has not been considered, although it “clearly demonstrates the devastating impact the legislation is having on the rental market in Scotland”.
A Propertymark spokesperson added: “Our latest response to the Scottish government’s call for evidence showed that 100% of agents surveyed have seen more landlords looking to exit the sector than before.
“Government ministers continue to deny that this is an issue, but we know that the private rented sector in the country has been impacted.
“The cost of living is continuing to affect us all, landlords are seeing their outgoings rising from mortgages to maintenance. Our research found that some management costs have risen by as much as 84% since 2019, yet rents are unable to rise to keep landlords afloat.
“At the end of all this, the tenant is the one suffering, as the rental market is squeezed further and new rents are being pushed higher by landlords who are unsure when they will be able to ask for an increase to meet their costs.”
The spokesperson added: “Propertymark wants to see an end to this stringent legislation and for the private rented sector to be able to recover in Scotland, we want the government to recognise that the sector plays an important role in housing those who need it, but this cannot continue at such a high cost.”
