Michael Lawson, who owns 75 properties in Fife, issued 26 rent increase notices of “between 8pc and 12pc” for existing tenancies on April 1, immediately after Nicola Sturgeon’s rent controls expired.
“All landlords are doing this,” he claimed. “Landlords like me just can’t make a return. We try to make £300 a month per property but now we’re struggling. Some will be making £100 a month now, and it’s not worth the faff.
“We used to have a 4pc interest mortgage. We’re now paying 7pc with a 2pc arrangement fee. Home insurance went up by 30pc last year, and 17pc this year. It’s staggering.
“Even our plumber was £40 an hour, now it’s £50, and he’s just said it’s going up to £60.
“Alarm bells are ringing. We’re selling off any property worth less than £125,000 because the numbers don’t work.”
John Blackwood, chief executive of the Scottish Association of Landlords, said landlords were taking the opportunity to increase rents after their costs “sky-rocketed” over the past few years due to interest rates, inflation and increased regulation.
He added: “From a recent survey of our members, respondents reported that one in ten let properties are no longer financially viable as the costs to run these properties are far in excess of the rents being charged.
“We have warned for the last couple of years that due to Scottish government policy, rents have increased and that it will be both landlords and tenants who will suffer from this.
“Short-term, ideological policy interventions have only made this worse.”
