A staggering 85% of letting agents in Scotland report that landlords want to sell up following the government's move to ban evictions and rent increases until next April.
Propertymark members in Scotland say that even more worryingly, 68% of agents had already seen an increase in notices to sell due to the emergency Cost of Living (Tenant Protection) (Scotland) Act '� and that the legislation had actually had the reverse effect.
While many landlords had not increased rents in the last year, 83% would now be inclined to do so because of the Act.
They want reassurance that they could cover any rental loss as well as the rising cost of maintenance and repairs, utilities and mortgage interest hikes.
One agent explains: 'Many landlords who have not increased rent and had properties below market value for years are now considering this position and feeling they must raise [their property] to market rent from now on and keep up with annual increases, whereby before they had not considered it.'�
Timothy Douglas (pictured), Propertymark head of policy and campaigns, says the measures are disproportionate to the scale of the problem and have only driven more landlords out of the sector.
He adds: 'Alarmingly, the temporary nature of the legislation means that the impact is not fully realised yet but if the changes are extended then there will be greater consequences.
"The private rented sector is a key solution to resolve the housing crisis but if the Scottish Government continue with policies that disincentive landlords this will only make the situation worse.'�
Scottish Ministers must report and review every three months on the need for the provisions to either be continued or end; the first report will be laid before the Scottish Parliament by 14th January.
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