The PRS Landlord (non-business) Covid-19 Loan will provide short-term support for landlords where tenants are having difficulty paying rent as a result of the impacts of Covid-19. Landlords should be engaging with their tenants to manage these difficulties and this loan is intended to support them to do this.
The interest free loan is available for PRS landlords who:
were, or had applied to become, registered before 01 February 2020;
are not classified as businesses;
have 5 or less properties available for rent
properties available for rent are classed as being within the private rented sector (as per the terms of the 2006 Housing Scotland Act)
have lost rental income as a result of tenants facing difficulty in paying rent as a result of the Covid-19 situation or where a rental property became vacant on or after 01 February 2020 and the landlord is unable to get a new tenant because of the restrictions currently in place.
Eligible landlords will be able to apply for a loan to cover lost rental income for a period of up to 6 months, backdated to the 01 March 2020
Loan repayments will be deferred until October 2020, with the loan being repaid in 12 monthly instalments
Further information including an online application can be accessed via the Scottish Government website.