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Private Rented Tenancy Update

As you may be aware the majority of the industry has been operating under the assumption that the new Private Rented Tenancy regime, which is set to come into force around the 1st December 2017, will apply to any NEW tenancies entered into from that date.  It has been our understanding that any pre existing Assured or Short Assured Tenancies that are in existance at that date will continue to run and operate under the terms of the respective regimes.  I.e. they will not be regulated or governed by the new Private Rented Tenancy rules and regulations.

However, there seems to be some divided legal opinion on this as to whether a Short Assured Tenancy will in effect become a Private Rented Tenancy.  The transition may occur on the first ish date after the new legislation comes into force once the current Short Assured Tenancy moves out of its fixed term and on to a rolling month by month tenancy.

Legal opinion is divided on this and we are awaiting confirmation from the Scottish Government.

 

As soon as we know more we will of course update you on any implications this may have for you or your tenants.

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