Friday, 16 February 2018
Edinburgh Festival Lets
There are no grounds in the PRT that give landlords or letting agents the ability to evict a tenant to enable a property to be rented out for the Festival. The usual practice of securing Festival tenants in January, February and March will no longer be possible from 2019 with the uncertainty of tenants’ plans.
Let me explain.
In August and September 2018. At ACE Property we will be singing up our students. Most likely all into HMO properties. These leases will have no fixed term and must be ended by using one (or more) of the 18 Grounds for eviction (which you can read about here https://www.acepm.co.uk/page.php?page=129 ).
There are no grounds that give landlords or letting agents the ability to evict a tenant so a property can be rented out for the Festival. We can communicate with tenants during their lease however the tenant is well within their rights to stay in the property and give 28 days notice when they need to leave.
2019 will see the practice of securing Festival tenants in January, February and March become no longer possible with the uncertainty of the tenants plans.
The new PRT tenancy means that we may start seeing tenants issuing their 28 days notice at different times during the year depending on their university schedule and personal situations.
Do not panic! Our industry will adapt and move forward. We need to embrace the change and play the cards we have been dealt by the Scottish Government.
Landlords that are used to Festival Letting their properties need to prepare for August 2019 as the August rent rise that they may be used to might simply become a regular month’s rent.