The Build To Rent (BTR) sector has been exempted from rent controls in Scotland.
The Scottish Government has laid secondary legislation under the Housing (Scotland) Act to exempt BTR from such controls.
A statement from the Scottish Property Federation says: “This is a vital move to incentivise the sector to deliver high-quality, professionally managed rental accommodation and is critical to tackling Scotland’s housing emergency.
“Build-to-Rent and Mid-Market Rent play a key role in increasing supply, raising standards, and offering long-term, stable homes for renters.”
The regulations, subject to parliamentary approval, will come into force on April 1.
David Melhuish, the director of the Scottish Property Federation, says: “After several years of uncertainty, we believe these regulations now provide a genuine platform for major investment in this residential sector.
“With the right support, BTR and mid-market rent have the potential to deliver new homes at both scale and pace across Scotland.
“We not only urge all parties in the Scottish Parliament to recognise the importance of this opportunity and support these regulations to unlock new investment and accelerate the delivery of much-needed rental homes but also continue to foster a positive investment climate as we head into the May elections and beyond.”
This article is taken from Landlord Today