Regulations to modify the Repairing Standard
I am concerned that whilst there has been a huge amount of content regarding the Cost of living (tenant protection) (Scotland) Act 2022 and the tax changes there has been no real mention of the Regulations to modify Repairing Standards, due in March 2024, nor the potential requirements to meet an as yet unstated minimum EPC standard.
The changes to the Repairing Standards were agreed pre-covid and are now sneaking up on Landlords. Looking at ?https://www.gov.scot/publications/regulations-to-modify-repairing-standard-summary I suspect that the potential cost may put a proportion of Landlords in significant financial difficulty.
The likely hood is that even more Landlords will look to sell and with the changes to the Airbnb market many owners of short term/holiday lets are also looking to sell. There must be concern that this will impact on the whole residential market, rental and sales.
This will place all owner occupiers at risk, if there is a resultant downturn in the market and the potential for a return to negative equity. I have to question the Scottish Governments thought process as, whilst they say that they are protecting tenants, they are, in reality, making it almost impossible for good Landlords and potentially pushing the rental market towards an unregulated, unpoliced, black market. In addition, the overall impact on the whole residential market may come at a cost to everyone.