The lower housing prices and tax reliefs in Scotland are attracting many more landlords from south of the border. More Scottish properties are being managed by English landlords than on record and the interest in Scotland is just further evidence of the demand for both properties and quality accommodation. Letting agents Edinburgh tenants and those across Scotland can choose from add a layer of protection between the landlord and the tenant, allowing both parties to comfortably enjoy their relationship without difficulty. Not all landlords choose to work with letting agencies but as more landlords in England purchase properties in Scotland, the right letting agent is more important than ever.
Significant Rise in English Landlords renting in Scotland
The figures released came from SafeDeposits Scotland and they’ve fully analysed their Scottish rental deposit registrations. There has been a 430% rise in the number of English landlords using this Scottish system and the attractive nature of investing north of the border is clear for English landlords. This 430% increase is since 2012 and the trend is increasing in more recent years. Figures show the number of registrations is up 226% in 2018 on 2017 in the same period.
Different Legislation attracts more Landlords
Scotland has different deposit protection legislation than in England. Landlords seem to see the benefit of the Scottish system. Of course, landlords need to be fully aware of the legislative differences in Scotland which is why working with a letting agency makes good sense. A local letting agency in Edinburgh or any Scottish city is a great partner for a non-local landlord. Good letting agencies ensure they are up to date with the latest legislation and prepared to ensure all their landlords are 100% compliant.
A growth in the rental sector is always positive for the economy and in Scotland it is clear there is both demand for housing and tenants waiting to find their perfect home.