PRS Landlord (non-business) Covid19 Loan Support
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We reserve the right to reject any application and our decision as to whether an applicant is eligible for a loan shall be final. We also reserve the right to verify registered properties or check other details with local authorities or other relevant agencies.
Applications must be completed and submitted personally by the owner of the property being applied for and not by any third parties, such as letting agencies or tenants.
The rental property must be in Scotland and within the private rented sector (as per the terms of the 2006 Housing Act) and is not a short-term holiday let or agricultural tenancy.
You are currently a registered landlord or you have applied to become a registered landlord on or before 31 January 2020 and are pending registration. If you have applied to become registered from 1 February 2020 onwards then you are not eligible.
You are not classified as a business or self-employed person.
Your domestic property rental portfolio consists of 5 or fewer properties.
The property applied for must have been available for rental on or before 31 January 2020.
Since 1 March 2020 or later you are affected by non-payment or reduced payment of rent from an existing tenant(s) or have been unable to secure a new tenancy as a result of COVID-19 impacts.
Where you have been unable to secure a tenant, the property must have become vacant on or after 01 February 2020
You are ineligible for, have been refused or are waiting for a decision on whether you can receive alternative forms of support available as listed below:
We reserve the right to validate this information with the relevant authorities.
If you have a mortgage and rely upon rental income to cover the repayment costs then you have applied to your lender for a repayment holiday and been refused for a reason other than outstanding arears.
The Scottish Government have been clear that no tenant should be evicted due to rent arrears caused by the Covid-19 crisis. From 07 April, the Coronavirus Act (Scotland) 2020 temporarily extends the amount of notice landlords must give when ending a tenancy. In most cases, landlords will now need to give tenants 6 months' notice, unless they are ending the tenancy for certain reasons. The new law also temporarily makes all grounds for eviction in the private rented sector discretionary. This means that even if the Tribunal agrees that the ground exists, it still has to decide whether it is reasonable to issue an eviction order. More information can be found at https://www.mygov.scot/ending-a-tenancy-as-a-landlord/. Prior to applying for this loan, landlords must have discussed rent issues with their tenants and reached an agreement on managing rent arrears that have arisen as a result of Covid-19.
Although Landlords cannot compel tenants to access either the various UK Government Coronavirus Employment schemes or access Universal Credit, including the Housing Benefit element, it is a requirement of this loan that you have engaged with your tenant(s) to raise awareness of the help that is available to them.