A MILLIONAIRE landlord has been banned from renting property after threatening to shoot tenants.
Ferrari-driving Mark Fortune failed to make the list of “fit and proper” landlords because of convictions directly relating his business of letting properties.
He is thought to be the first person in Scotland to be hit with the notice.
Edinburgh City Council refused the application after hearing he was fined £650 for threatening to shoot lodgers in 2010 over a £160 repair bill.
It is understood current lodgers will be allowed to see out the end of their contracts rent-free.
But there are fears Fortune – who intends to appeal the decision – will escape through a “legal loophole”.
Jaime Finn, 28, a threatened tenant who stayed in the Lonsdale Terrace flat, said: “I am very happy but my main concern is that this is overturned because of some legal loophole while he continues to benefit by changing the name under which the properties are registered.
“He threatened everybody in the flat. He said, ‘I will kick the f*** out of you,’ and was boasting about having friends who had been locked up for shooting someone.
“As he left, he kicked the door in and went downstairs in a fit of rage.
“After that, we began to receive threatening phone calls.”
Edinburgh Councillors were told Fortune had been convicted of offences directly relating his business of letting properties.
These included an incident in March 2011 where he was fined £1,000 for operating an unlicensed House in Multiple Occupation (HMO) and September 2011 where he was fined £650 for threatening tenants.
They also heard Fortune’s appeal to the Sheriff for a previous refusal of an HMO licence from the Council had been rejected in January.
Now he is removed from the landlord register it is a criminal offence for him to let properties with breaches leading to a maximum fine of £50,000.
Jon Black, secretary of Edinburgh Private Tenants Action Group, which was founded by some of Fortune’s ex-tenants, said: “We are really pleased.
“But registering the properties under a different name could easily be a loophole here. Action still needs to be taken to tighten the system up.”
Councillor Gavin Barrie, leader of the Capital’s regulatory committee, said: “Whilst the significant majority of landlords are of good character and comply with the law, there are some, such as Mark Fortune, who act unlawfully.
“This sends a clear message to landlords, tenants and their neighbours that we will take robust action against landlords who act unlawfully.”
A source close to the ban said: “He’s a nasty character. He should come with a health warning.
“Tenants may be able to continue to live there rent free but it’s very complicated with the legal side of things.”
In 2010 Fortune was also exposed as a blue-badge parking cheat after he left his £118,00 Ferrari F430 in a disabled bay outside the Crown Office in Edinburgh.
He claimed the badge belonged to someone else who used his car.
Fortune disputed the claims of tenant Mr Finn and insisted he had never been convicted of any offence against him.
He added Mr Finn was in arrears on his rent and an eviction order against him in 2010 had been granted.
He added: “Having been on the landlord register since May 2006, the committee’s decision was disappointing.
“Solicitors have been instructed to appeal the decision and I fully expect the appeal to succeed.”
Tenants can check if their landlord is registered on the Scottish Government’s National Landlord Registration website.