Boom in English landlords renting out homes in Scotland
Monday 16 April 2018
The number of English landlords renting out properties in Scotland has quadrupled as a result of cheaper property prices, tax reliefs and higher yields, new research shows.
There has been a 430 per cent increase in the number of English landlords since 2012, according to a new analysis of Scottish rental deposit registrations by SafeDeposits Scotland.
The study found that in 2012, 260 landlords living in England registered deposits with them on rental properties in Scotland.
By 2017, the number was 1,388 new registrations.
Data for 2018 shows that the trend continues as the number is up 226 per cent on the same period in 2017.
Victoria Smith, operations manager at SafeDeposits Scotland, said variations in rates of Stamp Duty in England and Land and Buildings Transaction Tax in Scotland make investing more attractive north of the border
She said: “SafeDeposits Scotland now holds over 3,300 deposits from English landlords on Scottish properties.
“In Scotland, the private rented sector accounts for 15 per cent of the overall housing stock, growing from 5 per cent before the turn of the millennium.
“While the sector expands and interest from landlords from outside Scotland increases, it is important that they understand the legal framework in which they are operating.
"For example, navigating deposit protection regulation and Private Residential Tenancy legislation is vital to managing tenancies successfully in Scotland.”
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