In this episode of the Scottish Property Podcast, Scott sits down with Portolio — Scotland’s specialist estate agency dedicated to selling tenanted properties. Since 2017, Portolio has carved out a unique position in the private rented sector by staying niche, focusing solely on tenant-in-situ sales, and championing transparency across the industry. In this conversation, Portolio breaks down how the market has shifted in 2025, why so many long-term landlords are exiting, and what serious investors truly look for today. From yields 📈 and fixed pricing, to MDR savings 💷, portfolio deals 🏘️ and industry ethics, Portolio gives a clear and honest look at what “fair sale price” means in the current market.

🎙️ Episode Highlights

🏡 How Portolio Built a Niche in Tenanted Property Sales

• Launched in 2017 when tenant-in-situ sales were still uncommon

• Built the business by staying niche, consistent and transparent

• Focused solely on tenanted sales to build trust with investors and landlords

👵➡️👨‍💼 Why Landlords Are Selling & Who’s Buying in 2025

• Most landlord exits are driven by retirement after 20–30 years of ownership

• Younger, more professional investors are now rapidly taking over the PRS

• Buyers increasingly use limited companies to scale portfolios

💰 Pricing, Yields & Setting Realistic Expectations

• Portolio avoids inflated valuations and uses evidence-based pricing

• Long-term stagnant rents can impact achievable yields and sale values

• Some properties require rent reviews before a sale can succeed

📌 How Fixed Pricing Speeds Up Sales

• Fixed price avoids confusion and unrealistic offers

• Serious investors act quickly when yields and numbers are clear

• Many buyers now expect upper-6% or 7%+ gross yields due to lending conditions

🧾 Why Proper Due Diligence Matters

• Full compliance documentation is prepared before listing

• Buyers get tenancy info, safety certs and rent statements upfront

• Prevents surprises like arrears, missing paperwork or access issues

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In this episode of the Scottish Property Podcast, Nick and Steven sit down with returning guest Davy Hutton, known for his outspoken views on politics, economics, AI and society. What begins as a conversation on Budget 2025 quickly evolves into one of the broadest and most thought-provoking episodes ever recorded on the podcast.

Davy breaks down the 2% tax hit on rental income and dividends, explains why the middle class feels squeezed, and discusses how global corporations and AI are reshaping wealth, work and the future of the property market.

🎙️ Episode Highlights

🟦 Budget 2025: The Real Impact on Landlords

• The feared 8% rental income tax didn’t appear, but a 2% rise in dividend tax will affect landlords using limited companies.

• For most small investors, this equates to roughly £700 per year.

• Electric vehicle incentives are being scaled back, including the loss of 100% first-year allowances and mileage tax changes.

• Mansion tax proposals pose little risk to Scottish investors.

• Davy’s verdict: “A nothing-burger budget — lots of noise, minimal change.”

🟦 Why the Economy Feels Worse Than the Data Says

• Most business owners have rising net worth, yet life feels harder for ordinary people.

• Middle-class households face invisible pressures through stealth taxes and inflation.

• Public services are worse despite higher contributions.

• The UK has spent nearly two decades in economic stagnation, draining energy and optimism.

🟦 Corporations, Power, and the Real Drivers of Inequality

• Global corporations avoid tax at levels no individual could.

• Tech giants influence public opinion through social media algorithms and news ownership.

• Anger is directed at “easy targets” like landlords instead of corporations.

• Governments lack the power to meaningfully challenge corporate dominance.

🟦 Scottish Property Market Overview

• Scotland has cooled from 10% over Home Report to around Home Report value.

• Market correction is gradual rather than a crash.

• The high-end market (£1m+) is softening significantly.

• Glasgow rents have plateaued and fallen slightly in some areas.

• Expected interest rate cuts should stabilise pricing through 2025.

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Know someone looking to sell?

Send the guys at ⁠⁠Prime⁠⁠ a message now:

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In this episode of the Scottish Property Podcast, Nick and Steven sit down with John Blackwood, Chief Executive of the Scottish Association of Landlords (SAL), who has spent nearly 25 years representing landlords across Scotland.

John brings unparalleled insight into the private rented sector (PRS), the political pressures landlords face, and the complex legislative landscape shaping housing today. From rent controls to the Housing Scotland Bill, ADS reform, empty homes, and the moral debate surrounding private renting, this conversation offers one of the most balanced and honest breakdowns of Scotland’s housing challenges — directly from someone on the front line.

Episode Highlights:

🌟 Changing Perceptions of Landlords

• John reflects on how society’s view of landlords has shifted dramatically over generations.

• Renting was once seen as responsible long-term planning — now landlords are often unfairly painted as “greedy” or “immoral”.

• He emphasises that 95% of Scottish landlords own just one or two properties and are ordinary working people, not large-scale investors .

🏛️ Why the Scottish Association of Landlords Was Formed

• SAL was created after early HMO legislation left landlords feeling unsupported and unheard.

• The Scottish Government itself requested a single representative body to balance discussions around landlord and tenant rights .

• SAL’s mission has always been to represent both sides fairly, not favour landlords.

⚠️ Challenges Facing Today’s Landlords

• The sector is experiencing legislative overload, with continuous rule changes forcing many small landlords out of the market .

• Financial pressures are rising: tax changes, potential National Insurance on rental income, and increasing compliance demands.

• John highlights how the constant policy churn creates instability and discourages investment.

📉 Rent Controls, Supply Shortages & Market Impact

• John discusses the rent freeze/rent cap and the unintended consequences it created.

• Evidence from Zoopla and international studies shows rent controls:

  • Reduce supply

  • Deter investors

  • Ultimately increase rents — exactly what happened in Scotland

• With controls now lifted, rents are beginning to stabilise as the market self-corrects.

⚖️ The Landlords vs Tenants Narrative

• John expresses frustration with the media and political framing of landlords as “the bad guys”.

• Argues that landlords and tenants want the same core things:

  • Safe, warm, affordable homes

  • Good relationships

  • Stability in the PRS

• Says the current political climate encourages division instead of solutions .

🏘️ Empty Homes, ADS & Policy That’s Worsening Supply

• John highlights the flaws in Additional Dwelling Supplement (ADS):

  • Penalises landlords purchasing empty or uninhabitable homes

  • Discourages buying tenanted properties

  • Slows down opportunities to bring homes back into use

• Proposes simple reforms: exempting purchases of empty homes and rented homes from ADS — a cheap, immediate supply solution.

🏛️ The Housing Scotland Bill & Political Ideology

• Discussion around how the Bill is influenced by ideology rather than evidence.

• John shares experiences with politicians who claim that being a landlord is inherently “immoral” .

• Emphasises that removing landlords doesn’t solve the housing emergency — it makes it worse.