Don’t fear the red tape! Returns can be good on rentals

It’s not surprising that UK landlords are looking north to take advantage of Scotland’s strong rental market.

Recent figures compiled by the Landbay Rental Index show that Scotland has the highest year-on-year rental growth at 1.74%.

The same statistics also reveal that the average rent in Scotland is £750, slightly less than the UK average, discounting London (£773). Edinburgh City has the highest rental growth of any geographical area in the UK, with growth of 5.44% year-on-year.

Bell Ingram’s Jackie Moore said: “Fears that Scotland’s letting market would collapse under the raft of new legislation have proved unfounded.

“While there’s no doubt that changes to the law to improve tenants’ rights have presented significant challenges, landlords and agents are still making money from property and the best in the market are adapting and thriving.”

Jackie, who is based in the company’s Oban office, is encouraging potential landlords to take advantage of the high demand for rental property, particularly in the north west where she is based.

She continued: “Potential landlords shouldn’t be put off by the increase in red tape … for those owning rental property the returns can be good.

“There is a record demand for rental property in Oban town centre at the moment. For every flat or house that comes onto the market I can guarantee at least six applicants registering interest.

“If you are thinking of getting into the rental market, or you are looking to increase the income from your existing property portfolio, professional advice is money well spent. Be aware of the new legislation and work with an expert to guide you through the process.”

To make an enquiry, arrange a viewing or request a free market appraisal of your own property call Jackie Moore on 01631 567798 or email jackie.moore@bellingram.co.uk

Published on 19th August 2019