The Scottish Government has launched a Rental Income Guarantee Scheme (RIGS) to boost new investment in private rented housing.
The first of its kind in the UK and developed in consultation with the sector, the scheme will reduce some of the risk investors associate with the emerging build-to-let market – and has the potential to attract £0.5 billion of investment and support delivery of around 2,500 new, high quality private rented homes. It guarantees 50 per cent of any gap between actual and potential rental income, thereby giving greater certainty to investors and landlords during the initial years of letting.
Commenting on the unique new scheme, housing minister Kevin Stewart, says: “RIGS will boost this emerging sector and clearly demonstrates the Scottish Government’s commitment to the private housing sector.”
Source: s1homes magazines