Rent Freeze for Scottish Tenants
The Scottish Government has introduced emergency legislation to protect tenants during the cost of living crisis.
Implemented on 6 September 2022 and with immediate effect until at least March 2023, the legislation includes a freeze on rent and a ban on evictions for private and social housing tenants. The suspension on evictions is expected to be akin to the moratorium on evictions during COVID-19 ie. with the exception of antisocial behaviour, domestic abuse and criminal activity.
While this may be welcome news to some tenants, it may well cause concern to Scottish property investors and public and private landlords who are grappling with rising costs.
If you are concerned about the effects the rent freeze will have on your business cash flow, please get in touch.