Scotland has a healthy commercial property market, with Peter Walker of the Business Insider reporting that Scotland has seen an increase of 4% in the first half of the year despite an overall decrease in the rest of the UK1. With businesses attracted to Scotland, renters will follow bringing with them the demands for more choice and a further increase in demand for rental properties in Scotland’s cities. Often that demand outstripping the supply of houses available as anyone who has ever attempted to rent a flat during the Edinburgh Fringe will know, next to impossible! Of course, managing expectations of renters and finding them the property of their dreams is certainly a nice idea, just how achievable is that in today’s demanding rental market where properties in the location renters want, are scarcer than ever.
For the first time renters, mainly students, who flock to Scotland will soon discover that renting their first property isn’t as easy as browsing online and adding properties to their favourites, it’s a hard graft involving timing and perseverance and yes, a little bit of luck! The call of student life and the buzz of planning nights out in a new city is swiftly replaced with the fear of not being able to secure their first flat or how they will afford to pay for it all when they discover the property they want is out with their budgets or they haven’t accounted for the deposit, not to mention the other demands that running a home has on their finances. With some international students forced to stay in hotels or ultimately having to opt for properties out with their preferred locations, or as the National Union of Students reported last year, international students are twice as likely to find themselves homeless with some students literally begging letting agents for flats that simply don’t exist2. The clear lack of understanding of how it all works is staggering and we could argue again that more needs to be done to support students with proper accommodation, but this doesn’t solve the immediate lack of understanding of the steps of renting a property in Scotland. Universities of course are doing their bit for students, and many will have dedicated space on their websites to answer student questions, however, when landlords offer different conditions, it can become difficult for new renters to navigate the rental market without some form of guidance.
Managing a first home
It’s not just students of course, none of us are taught the intricacies of renting a property or of the financial burdens that come along with managing our first home, though perhaps there is an argument for this also, we will leave this to the politicians to argue over. People learn by osmosis from others and often by their mistakes, that many will be doomed to repeat.
Ask any landlord or letting agent across the country and I’m sure they will have a story or two about the questions they have been asked by their tenant or future tenants which will seem to have an obvious answer, but to a first-time renter, or landlord for that matter, it will feel as though they have stepped into an unknown world where everyone speaks in riddles and acronyms. Googles ‘what is an EPC and why should a tenant know this?’
Many tenants will regret not asking the right questions and signing up to leases that didn’t suit their needs, or not understanding tenancy agreements and wondering why their deposit was not fully refunded… the list could go on!
Just one quick examination of a property advert via an online search can spring to the lips at least a dozen questions from tenants. ‘Ask the Agent’ jumps out of the screen as if something has been deliberately hidden. ‘Ask the Agent’? What if a tenant doesn’t know what to ask? This isn’t about trying to teach an old dog new tricks, but it’s worth pointing out that even the seasoned of us can learn something new and the same goes for tenants. Of course, it’s not just new renters that will have questions, those with previous rental experience have also been known to dabble in the pool of uncertainty.
Playing the role of educator
Many landlords and letting agents will have played the role of educator within the tenant/landlord relationship, but who really has the time for that!
Share recognise the importance of knowledge and education and are looking to provide tenants with the tools they need to support them through their tenancy experience. With help from a grant received through the SafeDeposits Charitable Trust, Share have been able to create an on-line learning portal allowing tenants access to educational material covering every aspect of the private rented sector, from planning the move, living in the property to moving out. This support will allow tenants to have the confidence to ask the right questions and understand the terms of the tenancy agreement and the landlord, and their own obligations.
‘Knowledge is power’, the more knowledge tenants have can only be a good thing for everyone involved in the private rented sector.
1 Scottish property investment bucks UK trend – Business Insider
2 Fifth of international students in Scotland face homelessness – report – BBC News
This article was written by Debra Campbell Learning and Development Officer at Share.
