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The latest property news & information from a trusted source.
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Letting, Landlord Insurance, Landlords, Property Finance, Tenanted Properties, Uncategorized
The importance of specialist landlord insurance.
The Importance of Specialist Landlord Insurance As a landlord, arranging appropriate insurance for your buy-to-let property is crucial for safeguarding your investment. Comprehensive landlord’s insurance is essential to protect you and your finances from unexpected events that may result in an insurance claim. While regular household insurance provides cover for your building and possessions while […]
Letting, Edinburgh, Meet The Team, Property Careers, Property Managers, Staff
Meet the Team – Jordan Jack Property Manager
Describe your role in one sentence at Cairn? As a Property Manager I am the main point of contact for our landlords and tenants in the East of Scotland Area. How long have you worked at Cairn? I joined Cairn at the end of 2023 and can’t believe how fast the time has gone, I […]
Letting, Glasgow, Property Careers, Property Managers, Recruitment
What’s it like to work at Cairn?
What’s it like to work at Cairn? The key to Cairn’s success is its people and our commitment to high quality and personal customer service. There are lots of opportunities within Cairn, from working within letting, estate agency, property investment, finance, and development. This post is for anyone considering a new challenge and is a […]
Letting, Edinburgh
Moving from Short-Term Letting into Long-term letting – Edinburgh
Transitioning from Short-Term to Long-Term Letting in Edinburgh In recent years, Edinburgh’s property market has seen a significant shift from short-term to long-term letting. This transition offers various advantages for property owners and requires careful consideration and strategy. Cairn Letting & Estate Agency, with our extensive experience in both short-term and long-term letting markets, provides invaluable guidance in this transition. Edinburgh, a city known for its vibrant culture and history, attracts a diverse range of tenants. The letting market here is dynamic, with short-term rentals traditionally popular due to tourism and events. However, the trend is tilting towards long-term letting, offering stability and a steady income stream for landlords. The shift to long-term letting brings several benefits. It offers a more predictable and stable income, compared to the seasonal fluctuations of short-term rentals. Furthermore, it allows landlords to build lasting relationships with tenants, which can lead to better care and maintenance of the property. Transitioning to long-term letting involves understanding the legal and regulatory changes, such as tenancy agreements and property standards. Property owners must also consider the suitability of their property for long-term occupancy, which might require different amenities and maintenance compared to short-term rentals. Cairn Letting & Estate Agency stands out in facilitating this transition. Our comprehensive services include legal advice, property assessment, and effective tenant matching. Our team of experts ensures that your property meets the requirements for long-term letting and helps you navigate the process smoothly. For property owners in Edinburgh, moving from short-term to long-term letting represents a strategic shift in the approach to property management. Cairn Letting & Estate Agency offers the expertise and support needed to make this transition a success. If you’re considering this move, reach out to us for professional guidance and ensure your property reaches its full long-term letting potential.
Letting, Glasgow, Guides, Landlords, Legislation, Tenants
LATEST UPDATE ON THE REPAIRING STANDARD JAN 2023
Latest update to the Repairing standard – Lead Pipes Private rented properties as we all know are heavily regulated and in addition to all other requirements expected to be adhered to, all private landlords must ensure that their properties are served by a water supply system that is in a reasonable state of repair and […]
Letting, Estate Agency, General, Landlords, News, Social Responsibility
Cairn – Our Social Responsibility
Cairn – Social Responsibility Cairn care for the future of our planet, people, and wildlife. We want to do “our bit” ethically and sustainably to make sure we are being as good to the planet as we can be. We cannot rely on governments to reduce our carbon footprint. We must all take […]
Letting, Legislation
What will happen after the 31st March 2024 regarding Scottish Government’s Rent Cap?
What will happen after the 31st March 2024 regarding Scottish Government’s Rent Cap? From the 6th September 2022, there was a temporary cap on rent increases for private tenancies in Scotland. This was part of the Scottish Government’s wisdom to lessen the burden to tenants on the impact of the cost-of-living crisis. The cap was set at 3% and is expected to stay in place until the 31st of March 2024. The government’s current proposal is that from 1 April 2024 landlords can issue a rent increase notice up to the current market value of the property. The tenant could then refer the increase to the rent officer for adjudication if they felt it was too high. The rent officer would be able to restrict the rent increase through a tapering mechanism. The larger the difference between the current rent and the open market rent, the larger the increase which would be permitted by the rent officer subject to a maximum figure yet to be announced (but likely to be in the region of 10-15%). These proposals are still under consideration and SAL will notify members as soon as a firm announcement is made about rent increase procedures from 1 April. Rent increase notices issued before 1 April are still subject to a 3% cap, even if the increase doesn’t come into force until after that date. Assured or short assured tenancies which contain a rent increase clause in the contract terms are exempt from the current rent cap and are also expected to be exempt from the proposals set out above. Q: Can I increase the rent to market value after March 31st 2024 if I have implemented the 3% increase in the last year? A: No, if you have increased your rent by 3% in the last 12 months you cannot increase it to market value until 12 months has passed since the 3% increase. Can rent for an active tenancy can be increased by any amount? A: No, to prevent steep increases post-rent cap expiration, the government plans to introduce temporary charges to the rent adjudication process. These measures lasting a max of one year and subject to regular review aim to protect tenants during the transition. We doubt most landlords will seek steep rental increases. We know that many landlords have helped tenants throughout the uncertainty of covid and the cost-of-living crisis. Q What are the new temporary changes? A: When the emergency rent cap is removed the Scottish Government plans to amend the rent adjudication process so decisions must be based on the lowest of the three comparators: Open market rent The new rent proposed by the landlord A maximum “reasonable” increase for that tenancy, which will be defined by a new taper calculation. Unfortunately, with less than three months to go we do not yet have firm legislation on the rent increase cap. However, the potential plan set out by the Scottish Government does seem sensible for both landlords and tenants. As an experienced letting agent, we do not foresee any of our landlords requesting for rents to be increased at an unreasonable level and we will always advise them of the market value and what we believe is a suitable increase. Rent Officers will monitor these closely and ensure all landlord and letting agents are being fair and reasonable.
Letting, Buy To Let, Edinburgh, HMO licensing, Landlords, Portobello
8 Steps to becoming a landlord in Edinburgh
8 Steps to becoming a landlord in Edinburgh Ah, Edinburgh! The city of enchanting castles, winding cobbled streets, and the world-renowned Edinburgh Festival Fringe. Beyond its historical charm and vibrant arts scene, the Scottish capital is also a hotspot for property investments. Fancy joining the community of landlords in this mesmerising city? You’re in for an adventure! Here’s your guide to becoming a landlord in Edinburgh, with Cairn leading the way. (1) Celebrate Edinburgh’s Diversity Before diving deep into landlord responsibilities, let’s take a moment to appreciate Edinburgh’s diversity. From the medieval marvels of the Old Town to the elegant Georgian terraces of New Town, and the bustling student hubs around the University of Edinburgh, each terrain offers unique letting opportunities. (2) Understand Your Responsibilities First things first: being a landlord isn’t just about collecting rent. There are legal responsibilities, from ensuring your property is safe for tenants to protecting their deposits. Cairn is here to ensure you’re not just compliant but confident in your role. (3) Getting Your Property ‘Tenant Ready’ Give your property a critical once-over. Consider small renovations or even just a fresh coat of paint. Remember, a property in top shape attracts reliable tenants and better rental income. (4) Navigate the Maze of Licensing and Regulations Edinburgh has specific licensing requirements, especially if you’re considering becoming an HMO (House in Multiple Occupation) landlord. But don’t get bogged down in the bureaucracy – let Cairn guide you through the complexities. (5) Set the Right Rent Research is crucial. Too high and you may struggle to find tenants; too low and you might not cover your costs. Cairn’s experts, with their finger on the pulse of Edinburgh’s property market, can help you set an appropriate, competitive rate. (6) Choose Your Tenants Wisely Selecting the right tenant can make or break your experience as a landlord. Comprehensive background checks and interviews will ensure you find trustworthy and reliable tenants. (7) Dive into Edinburgh’s Vibrant Communities Engage with local communities. Perhaps you own a flat in Leith, famous for its ports and cultural diversity, or a family home near the verdant meadows of Bruntsfield. Understand the unique pull of each area to market your property effectively. (8) Continuous Learning with Cairn Stay updated with property regulations, market trends, and community insights. Cairn offers continuous support and education to ensure you remain a top-notch landlord in Edinburgh. In conclusion, becoming a landlord in Edinburgh is not just about owning a piece of this historic city but being a part of its ever-evolving story. With Cairn by your side, this journey promises to be as exciting as a stroll down the Royal Mile during the Fringe! Get in touch with our Edinburgh Office.
Letting, Edinburgh, Glasgow, HMO licensing, HMO Properties, Landlords, Student Accommodation, West End
HMO licensing, Cairn, your trusted partner
HMO Licensing: Cairn, Your Trusted Partner The housing market in Scotland is diverse, comprising a vast array of property types, ownership arrangements, and regulatory guidelines. Among these, the realm of House in Multiple Occupation (HMO) stands out due to its unique licensing intricacies. For anyone embarking on the HMO journey, whether as a new landlord or an experienced one looking to expand, the complexities of HMO licensing can be daunting. Enter Cairn – your trusted partner in navigating these waters. The Significance of HMO Licensing In Scotland, if you plan to rent out a property to three or more unrelated tenants, it falls under the HMO category, and specific licensing regulations apply. The essence of HMO licensing is to ensure that properties rented to multiple occupants meet a higher standard of safety and well-being. According to data from the Scottish Government, there are thousands of licensed HMO properties across the nation. This significant number reflects the growing trend of shared living, especially among students and young professionals. It underscores the importance of ensuring that these properties meet the necessary standards, both for the safety of the occupants and the peace of mind for landlords. Cairn: Leading the Way in HMO Expertise Navigating the HMO licensing process can be a maze of checks, balances, and regulations. From ensuring the property adheres to fire safety standards, regular inspections, to equipping it with the right safety equipment – there’s a lot to cover. Cairn’s expertise in the field ensures that every box is ticked and every regulation met. But Cairn’s role isn’t just about compliance. It’s about partnership. They work closely with landlords, providing expert guidance every step of the way, ensuring properties not only meet but exceed standards. It’s no surprise that Cairn has positioned itself as a leading authority in the HMO property space. The Risks of Non-Compliance The consequences of not complying with HMO licensing can be severe. Landlords can face hefty fines or even imprisonment for not adhering to the regulations. In recent years, there have been instances where landlords faced legal actions and penalties for overlooking these rules. This further underscores the importance of having a trusted partner like Cairn, which ensures that you remain on the right side of the law. In Conclusion The world of HMO properties offers opportunities for landlords to tap into a growing market. However, the intricacies of HMO licensing require careful navigation. With Cairn as your trusted partner, you’re not just ensuring compliance; you’re promising a safer, better living space for tenants and a stress-free experience for yourself. For those in the HMO space or considering entering it, the message is clear – partner with the best. Partner with Cairn.
