Major change for Residential Letting
On the 1st December 2017, a new Private Residential Tenancy agreement or “PRT” will come in to force meaning a change to the way in which residential property is let in Scotland.
It will no longer be possible to grant the familiar six month short assured tenancy agreement with all new residential leases now being PRT’s. The new PRT hopes to make tenancy agreements more flexible, easier to understand by both landlords and tenants and provide increased clarity and security for both parties.
One of the main changes is that the new PRT will contain no duration and have no end date. The lease will continue indefinitely until it is either brought to an end by the tenant wishing to leave the property or by the landlord using one of the eighteen grounds available to them.
The new PRT will only affect those who enter into a new tenancy agreement from 1st December 2017. Those who are in current short assured tenancies will continue under the old rules.
Please do not hesitate to contact us should you have any questions.