A letting agent warns that the minister controls rents, limiting investment risk

The high-profile boss of a letting agency in Scotland has warned that unless Holyrood ministers change proposed rent controls to allow for future increases, investment in the private rented sector will continue to fall.

David AlexanderCEO DJ Alexander (main photo, right), says in a statement issued this week by the Minister of Housing Paul McLennan (left) contained warm words and mentions of cooperation, but provided few details on how the “compromise” would be implemented.

“There may be more meetings and discussions planned, but realistically we need to take action sooner rather than later,” Alexander says.

“Mr McLennan said his government was committed to.”rent control measures that contribute to the development of a private rental sector that works for tenants and responsible landlords and investors” and that “believes that the private rental sector plays a key role in meeting housing needs.”

“However, there is no action to support this claim beyond details of further meetings and a call for a collaborative approach.”

A full-term approach

McLennan told MPs he would meet with Scottish Landlords Association to discuss their role in the ‘whole-term approach’.

He said: “We will build on existing examples of successfully working together. I urge owners and other partners to continue to work together to determine what more can be done.”

Alexander added: “The time to act is now rather than in the future, and everyone involved in the sector needs a detailed breakdown of the changes to the Housing Scotland Bill and Heating in Buildings Bill that will make investing in the private rented sector an attractive proposition for the future.”