Are you ready to PRT(Y) in December?

Are you ready to PRT(Y) in December?
December 1, 2017

As most landlords will by now be aware, the new Scottish Private Residential Tenancy (SPRT) will be introduced on 1 December 2017. The new form of tenancy is intended to improve security of tenure for tenants while also providing safeguards for landlords, lenders and investors.

Under the new regime assured and short assured tenancies will be replaced by a new form of tenancy known as the Scottish Private Residential Tenancy or SPRT. The changes will apply only to tenancies created on or after 1 December 2017. Tenancies created prior to that will remain assured or short assured tenancies or, if prior to 1989, regulated or protected tenancies. While there is an option for landlords to convert existing assured and short assured tenancies to SPRTs there is no automatic conversion. The new tenancy will also be open ended and will terminate on the tenant giving notice to the landlord of his or her intention to leave the property or the landlord evicting the tenant on one of the 18 statutory grounds.

The Scottish Government have published a “Model Tenancy Agreement” which includes standardised tenancy terms. The Model Tenancy Agreement is not compulsory. However, if landlords do not use the Model Tenancy Agreement then they must ensure the agreement used contains the statutory terms.

Some benefits for landlords include:

  • where a tenant is in rent arrears, a landlord can refer a case for repossession more quickly
  • one simple notice when regaining possession of a property called a 'notice to leave' – this will replace the current 'notice to quit' and AT6 or Section 33 notice
  • eighteen modernised grounds for repossession, which include new grounds where the property has been abandoned or the landlord intends to sell.

Should you require any further information or guidance regarding Scottish Private Residential Tenancies and the Model Tenancy Agreement please contact a member of The Property Stores' team.

All above information has been provided by Lindsays

 

I am so impressed with the staff at the Property Store in East Kilbride. June had a professional ease about her that seemed to stem from her experience of working within the housing industry. She was knowledgeable about the local area and was able to provide guidance as to how to go about buying a house. Her easy going manner and effective service allowed me to buy my first home as a single female with ease and confidence.   Absolutely amazing service! If I ever sold my new property (which I don’t plan to anytime soon :)!) I would definitely be searching to place it on the market with June at the Property Store. I’ll be letting my friends know about their service who are about to sell their property.

Vicki

"A great service from team property store. June helped us sell out property very quickly. Such a great team in there!"

Christine Allardyce

"The professionalism, customer service and pride in work shown by June and Euan is second to none. They sold our house in under 2 days from going on the market during summer holiday time when we thought we might struggle to sell! The photos and brochure pulled together were fantastic and June spent a lot of time getting the pictures just right, we can't thank her enough."

 

  • Karen Monaghan
  • - Seller

"As a family wishing to invest in property for the first time. We had invaluable support and knowledge from Lorri and June to take us 'step by step' through the process from sourcing and purchasing to finding the ideal tenants for the properties.  Without you we would still be wondering 'how'! "

  • Jess and David Cairns
Amazing customer service from June and the team. Great communication and kept up to date on process of our home report being completed etc. Would 100% recommend The Property Store EK for the sale of your property. Roughly 1 week on the market and we had over 6 viewings booked. One of which made an offer that evening. Quick, easy and stress free sale. Would definitely use The Property Store EK again.
Paige Easton

"Can you pass thanks on to the landlord. I've enjoyed living in the house it's just unfortunate my hip condition has deteriorated and caused me to move. I hope the new tenants enjoy their new home. Thank you to property store for all the help and support. A very professional team. I would highly recommend you to others."

  • Helen
  • - Tenant

"The Property Store was fantastic in finding me a property. They really took such a personal approach to finding me a suitable flat and take great care to ensure its the right fit. The staff are very friendly and will do everything they can to help in anyway they can. I would definitely recommend them to anyone looking for a property."

  • Debbie Fraser

"For some time I had been looking at further property development opportunities on a buy to let basis. As a landlord I had already been working successfully with the Property Store for a number of years and I took the opportunity to discuss this with them. Living remote from East Kilbride and having talked through my requirements it was clear that the most suitable option was for the Property Store to source, develop and let on a fully managed basis.

I have been very impressed with the speed that things have moved particularly how quickly the properties are upgraded and prepared for letting to the point where we have had tenants in advance of completion of works. As a result I have now added three properties in a matter of a few months.

As a remote landlord it is essential that you build confidence in the agents you are dealing with and the team at the Property Store have been excellent to deal with. They are a well-trained motivated team who know what they are doing.

The Property Store utilises the services of a number of key contractors with whom they have has a business relationship for many years. The contractors know the exacting requirements of owner Lorraine Robb and can be trusted to provide competitive quotes as well as completing works to a high standard. The Property Store fully inspect all works and provide regular feedback and are quick to take care of those small details that make all the difference.

I have no hesitation in recommending the Property Store to anyone considering a fully managed service from sourcing to redevelopment to letting."

  • Landlord and Investor

"I would highly recommend using the property store . I have just recently let my flat out & they found me a tenant within 1 week. The whole process has been hassle free, Lynne in particular has been fantastic, very professional & the customer service from all the staff has been great. Thank you."

  • Lisa Doogan
  • - Landlord

"We have dealt with June at The Property Store on a number of occasions now when buying and selling rental properties, the advice, service and attention to detail has been second to none every time.  We would have no hesitation whatsoever in recommending The Property Store when looking to buy or sell a property."

Mr & Mrs Frew