Back in September 2022, BBC Scotland was broadcasting on behalf of the landlords to undermine the SNP rent freeze plan. Notice the lack of inverted commas around ‘headline-grabbing ploy?’
At the time, the Guardian had a better perspective:
Selling up and raising rents: how landlords are cashing in and exacerbating the cost of living crisishttps://www.theguardian.com/commentisfree/2022/aug/31/britain-tenants-renters-landlords-profit
So how big is the sell-up?
Timothy Douglas, Propertymark’s Head of Policy and Campaigns, has given evidence to the Local Government, Housing and Planning Committee of the Scottish Parliament warning of the impact of proposed legislation to limit rent increases and evictions on the supply of private rented property in Scotland. While recognising the difficult economic climate, he told the Holyrood committee that Propertymark’s member agents have already seen a decline in the number of homes available for rent because of rising costs levied on their landlords and warned any form of rent control in the short and longer-term will mean more landlords selling up, resulting in even fewer and rental homes available.https://www.propertymark.co.uk/resource/propertymark-provides-evidence-on-impact-of-scottish-letting-legislation.html
Strong words but not backed up by numbers, when he then notes:
The data from one of our largest member agencies who manage just over 3,000 tenancies across Scotland shows in 2021 they issued 16 notices for arrears but 66 for landlords selling and in 2022, up until September, there were 18 for arrears and 69 for selling. Landlord selling notices are up from 33 in 2020. All roads lead back to supply and selling is one of the exemptions proposed in the legislation.
So, up from 16 to 18 for arrears notices between September 2021 and 2022 and from 66 to 69 for landlords selling. Doesn’t look a big shift to me. How many landlords are there in Scotland?
So, up from 0.0275% to 0.0287% selling up?
Maybe the increased student demand is because of greedy University managers. They recruited 25 600 extra last year.https://www.sfc.ac.uk/news/2022/news-89795.aspx
So, things were probably tight before further increases this year. I can’t see the latest figures but this from Glasgow University staff is telling:
University of Glasgow blasted over ‘unsustainable increases in student numbers’ and accommodation issueshttps://www.glasgowworld.com/education/university-of-glasgow-blasted-over-unsustainable-increases-in-student-numbers-and-accommodation-issues-3850117
How is the selling going?
A third of Scottish landlords evicting tenants to sell up fail to make a salehttps://www.scottishhousingnews.com/articles/a-third-of-scottish-landlords-evicting-tenants-to-sell-up-fail-to-make-a-sale
Hell mend them.