After two years of constant flux, we expect there to continue to be big changes in the rental sector this year. Here are our thoughts on what we believe will be the biggest changes in the private rental sector in 2022.
Changes to the EPC regulations in Scotland
The Scottish Government has announced updated proposals for introducing a minimum EPC standard in the private rented sector (PRS). This will come into effect at the start of a new tenancy from 2025 and for everyone by 2028.
This means acting now so you don’t get caught out. We’re here to guide you through working through any changes to law that affect you and your portfolio.
You can find our blog on everything you need to know about the changes to the EPC regulations in Scotland here. We’ve also included a list of actions you can take as a landlord to improve your EPC rating.
For more information, please get in touch and our team will assist you.
A new deal for renters – Scottish government consultation
You may have heard that the Scottish government is hosting a consultation with a view to shaping legislation that will overhaul the private rental sector this year.
The Scottish Government released a Draft Rented Sector Strategy Consultation, seeking views on how they can deliver on their vision for Housing to 2040.
The focus of which is to improve the quality, affordability and fairness of the rented sectors.
We would encourage our landlords to provide their views in response to the consultation, which will be open until 15 April 2022. Details on how to participate in the consultation are provided in Chapter 7 of the paper.
A continued rental boom
During the last two years, there has been unprecedented demand for quality rental properties. So much so that Tay saw the rise of a phenomenon of ‘ten-minute marketing’ – where great properties were being snapped up in ten minutes or less. However, will this continue into 2022?
We think it will. As house prices rise, the demand for rental properties grows and the flexibility that renting allows continues to be much more attractive for people in all demographics.
Changed to fire regulations for landlords
Scotland will soon become the first UK nation to require every home to have interlinked fire and smoke alarms regardless of tenure.
This legislative change comes into force on 1 February 2022. While more information can be found on the Scottish Government website, we’re here to answer any questions you may have.
By February 2022, every home must have:
- A smoke alarm on every storey including hallways and landings
- A smoke alarm in the part of the property most frequently used such as a living room
- A heat alarm in the kitchen
- A carbon monoxide detector in the room where there is a fuel-burning appliance (like boilers, fires, heaters, and stoves) or a flue.
For more information on how this affects you, please get in touch with the team.
Find out more
At Tay, we can guide you through the process of upping your energy credentials, ensuring that you keep within the law and make the right investments which will lead to a greater return on your investment.
For more information or to speak to a member of our team, why not give us a call today?