The Scottish government has extended the funding for its Private Rented Sector (PRS) taskforce, which is driving an increase of purpose-built properties to rent across the country.
The funding will see the work of BTR PRS Champion Gerry More, supported by a Working Party of experts, continue for a further 12 months, focusing on how PRS schemes could be rapidly delivered with the backing of institutional investors.
“With an increasing population, and the number of households forecast to continue rising, build to rent is a key component of increasing the supply of much needed homes of all tenures,” said Gerry More. “The extension of this funding is therefore greatly welcomed in what is a further demonstration of backing from the Scottish government, as previously reflected in its support of the extensive market engagement undertaken on a proposed Rental Income Guarantee scheme and improving the wider policy framework.
“The funding will enable me to progress my work across a number of key areas including engagement with stakeholders on potential planning reforms, continued work with the Royal Institution of Chartered Surveyors Scotland on valuation guidance as well as the launch of an opportunity document, which sets out in more detail the significant benefits that can be realised from the growth of this important sector of the Scottish housing market.”
Housing Minister Kevin Stewart added, “More and more households are calling the PRS sector home and new high-quality, well-managed housing built for private rent is an important element of our housing mix.
“This sector is in its infancy in Scotland and encouraging it to grow offers a range of benefits. It can drive up quality and choice for tenants, stimulate construction activity and create vibrant, well-designed neighbourhoods.”