Rents Frozen In Scotland From Today

housebuyer143

AJRBADGER said:

ProDave said:

AJRBADGER said:

Does that include a ban on evictions in order to sell the property, even if the notice period is written in contract?

The freeze doesn't bother me, but I absolutely need to sell this flat ASAP.

Information on this is sparse. 

That is why we want our tenant out, to sell what was formerly our family home.  I have not found any details yet, and if it is relevant ours is a short assured tenancy not the new version.

I cannot see how the government can effectively change the terms of a private contract, especially without warning. This came out of the blue this morning - infact a similar proposal by Labour was rejected earlier in the year, so it makes it more surprising. 

We are self building, and we are going to need the capital to stop the project grinding to a halt.

We are also effectively homeless, living in a static caravan. Which I would like to not be.

The selling market is warm but cooling, will it still be warm in March?

Like yourself I need some answers as this potentially has a major financial impact.

Did you forget covid when they did exactly that? Many were stopped from selling their houses or evicting their tenants for a year.

AJRBADGER

housebuyer143 said:

AJRBADGER said:

ProDave said:

AJRBADGER said:

Does that include a ban on evictions in order to sell the property, even if the notice period is written in contract?

The freeze doesn't bother me, but I absolutely need to sell this flat ASAP.

Information on this is sparse. 

That is why we want our tenant out, to sell what was formerly our family home.  I have not found any details yet, and if it is relevant ours is a short assured tenancy not the new version.

I cannot see how the government can effectively change the terms of a private contract, especially without warning. This came out of the blue this morning - infact a similar proposal by Labour was rejected earlier in the year, so it makes it more surprising. 

We are self building, and we are going to need the capital to stop the project grinding to a halt.

We are also effectively homeless, living in a static caravan. Which I would like to not be.

The selling market is warm but cooling, will it still be warm in March?

Like yourself I need some answers as this potentially has a major financial impact.

Did you forget covid when they did exactly that? Many were stopped from selling their houses or evicting their tenants for a year.

I know exactly about it. It cost me about £3k when a previously good tenant decided not to play ball anymore. Wrecked the place to boot.

It was a nightmare.

Sarah1Mitty2

housebuyer143 said:

Sarah1Mitty2 said:

housebuyer143 said:

Crazy. I sold my rental in Wales last year after the covid ban made me realise how little power I had over my private asset. 

The Welsh government will likely follow if Scotland do this and it will be the final nail in the rental sector. 

With interest rates soaring for landlords, how are they proposing that they remortgage or afford payments if the rent does not cover it 

Cut back on holidays, phones, expensive coffee out?

Banks lend for buy to let based on interest rate and rent achievable. If the interest rate goes up a landlord will need to achieve a much higher rent to get the same loan he might have got last time on the lower rate. 

Hardly seems right the landlord should make a loss to subsidize the tenants in his property? Some might actually be better off than the landlord. 

Many will be now for sure.

ProDave

housebuyer143 said:

AJRBADGER said:

ProDave said:

AJRBADGER said:

Does that include a ban on evictions in order to sell the property, even if the notice period is written in contract?

The freeze doesn't bother me, but I absolutely need to sell this flat ASAP.

Information on this is sparse. 

That is why we want our tenant out, to sell what was formerly our family home.  I have not found any details yet, and if it is relevant ours is a short assured tenancy not the new version.

I cannot see how the government can effectively change the terms of a private contract, especially without warning. This came out of the blue this morning - infact a similar proposal by Labour was rejected earlier in the year, so it makes it more surprising. 

We are self building, and we are going to need the capital to stop the project grinding to a halt.

We are also effectively homeless, living in a static caravan. Which I would like to not be.

The selling market is warm but cooling, will it still be warm in March?

Like yourself I need some answers as this potentially has a major financial impact.

Did you forget covid when they did exactly that? Many were stopped from selling their houses or evicting their tenants for a year.

Yes we had to suck that up as well.  "Tenants can have a rent holiday" well it would have been nice if they had given the landlords at least some help for the very much reduced rent we had that year, but no, we are expendable.

Sarah1Mitty2

ProDave said:

housebuyer143 said:

AJRBADGER said:

ProDave said:

AJRBADGER said:

Does that include a ban on evictions in order to sell the property, even if the notice period is written in contract?

The freeze doesn't bother me, but I absolutely need to sell this flat ASAP.

Information on this is sparse. 

That is why we want our tenant out, to sell what was formerly our family home.  I have not found any details yet, and if it is relevant ours is a short assured tenancy not the new version.

I cannot see how the government can effectively change the terms of a private contract, especially without warning. This came out of the blue this morning - infact a similar proposal by Labour was rejected earlier in the year, so it makes it more surprising. 

We are self building, and we are going to need the capital to stop the project grinding to a halt.

We are also effectively homeless, living in a static caravan. Which I would like to not be.

The selling market is warm but cooling, will it still be warm in March?

Like yourself I need some answers as this potentially has a major financial impact.

Did you forget covid when they did exactly that? Many were stopped from selling their houses or evicting their tenants for a year.

Yes we had to suck that up as well.  "Tenants can have a rent holiday" well it would have been nice if they had given the landlords at least some help for the very much reduced rent we had that year, but no, we are expendable.

Many landlords would have been working from home on furlough, I know people who had their hours split into working time and on call time, so basically getting loads of extra free holidays if they were not called in. How much help do people want from government these days?

Adam16

I think the solution isn’t just “Landlords bad. Punish landlords”. 

Its reform. 

Tenants and landlords need to be held to account. If tenants don’t pay for say more than 3 months, removing them should be quick and simple. Likewise if landlords don’t keep property up to standards then you have the right to withhold rent and compensation becomes payable. All regulated by an industry wide levy. 

We had a tenant not pay for 8 months now. Theres a smashed car on the drive. The police raided it for drugs so the door is boarded. And theres damages throughout. We’ve only just got a court order, and you can bet we won’t see a penny of the money owed. 

If you lent your car to someone, and they didn’t give it back at the end, you’d call the police and report it stolen. How is bricks and mortar any different? 

macman

I understood that you have to give tenants of over 6 months standing a period of 84 days notice anyway, so even if you gave notice on 1//1/23, it would be the end of March before you could apply for a possession order.-by which time the 'winter' ban will have expired? 
In England the waiting list for a hearing is still several months, not sure what the situation is in Scotland.

jj_43

As a landlord, it’s not a big deal. It’s temporary. A permanent freeze would likely cause many to exit, which wouldn’t be a big deal as typically they crowd out property ownership. 

scottishblondie

I had an anxiety attack when my husband told me about this on the phone. I actually agree with the ban on rents increasing - I haven’t increased my rent ever, so after 10 years it’s well below market rate for the area - but a blanket eviction ban feels punitive. 

We can’t afford to keep my former home as a BTL anymore.  The notice to quit has already been drawn up and was to be passed to the sheriff officers to serve this week. 

Covid cost thousands, as when my tenants didn’t pay for over a year I ended up giving them a backdated rent reduction to bring the arrears to a level I could see being repaid.  Once the tenants realise they can go along not paying rent again, I fully anticipate I won’t see another penny out of them for months. 

The repairs the building has had in the last 3 years have been costly, and a necessary lift renewal is the straw that has finally broken the finances.  We need to sell, and soon. I appreciate we’re running a business, but preventing us from ceasing that business when it’s bleeding us dry...

I’m sure someone will suggest I sell with sitting tenants, but if I do that I’ve been advised the valuation will take a 20-25% hit, and there is very little interest in buying tenanted properties anyway. It’s not a realistic proposition. 

housebuyer143

scottishblondie said:

I had an anxiety attack when my husband told me about this on the phone. I actually agree with the ban on rents increasing - I haven’t increased my rent ever, so after 10 years it’s well below market rate for the area - but a blanket eviction ban feels punitive. 

We can’t afford to keep my former home as a BTL anymore.  The notice to quit has already been drawn up and was to be passed to the sheriff officers to serve this week. 

Covid cost thousands, as when my tenants didn’t pay for over a year I ended up giving them a backdated rent reduction to bring the arrears to a level I could see being repaid.  Once the tenants realise they can go along not paying rent again, I fully anticipate I won’t see another penny out of them for months. 

The repairs the building has had in the last 3 years have been costly, and a necessary lift renewal is the straw that has finally broken the finances.  We need to sell, and soon. I appreciate we’re running a business, but preventing us from ceasing that business when it’s bleeding us dry...

I’m sure someone will suggest I sell with sitting tenants, but if I do that I’ve been advised the valuation will take a 20-25% hit, and there is very little interest in buying tenanted properties anyway. It’s not a realistic proposition. 

Not always true, it depends on the area. My rental went for the going rate and sold in a day with sitting tenants. Selling with your tenant though who is clearly not a great one will probably be hard though.