April 17, 2024
Full articleNavigating Rent Increases Post 31st March 2024: A Bold Outlook from the Tenant Protection Act
As the Cost of Living (Tenant Protection) Scotland Act 2022 nears its end on 31st March 2024, landlords and tenants alike are bracing for potential changes in the realm of rent increases. The Scottish Association of Landlords (SAL) has been actively engaged in discussions with the government to understand the proposed framework post the Act’s expiration.
As per the current government proposal, starting 1st April, 2024, landlords may have the ability to issue rent increase notices without predefined caps. However, tenants retain the option to refer these notices to the rent officer for adjudication. A tapering mechanism will come into play, allowing the rent officer to regulate the increase based on the disparity between the current rent and the open market rent.
The larger the difference, the more significant the permissible increase, capped at a maximum figure yet to be officially disclosed, but speculated to be around 10-15%. These proposals are undergoing careful consideration, and SAL is committed to promptly updating its members once a concrete announcement regarding the post-April 1 rent increase procedures is made.
Additionally, it’s crucial to note that any rent increase notices issued before April 1 remain subject to the existing 3% cap, unless landlords can justify an increase of up to 6% to cover heightened landlord costs. As the landscape of rent regulations evolves, staying informed is key for both landlords and tenants alike. SAL continues to advocate for fair and balanced policies, and we’ll keep you updated on any developments in this dynamic space.
