News & Blog

Renting an HMO in Edinburgh: Advice for Landlords & Students Interested in renting an HMO in Edinburgh? Read on for some important advice. An HMO (House in Multiple Occupation) is any residential property rented by at least 3 people who aren’t from the same household (for example, a family). In doing so, they also share key communal facilities such as a toilet, bathroom, and kitchen. Renting an HMO in Edinburgh comes with plenty of benefits for both landlords and students: Firstly, for landlords, HMOs can provide higher rental yields than one or two-bedroom properties. They also help to spread risk across multiple occupants. Meanwhile, for students, they offer a chance to comfortably live with 3, 4, 5 or more friends. This means you can easily split bills and other living expenses. However, if you’re interested in renting out (or living in) an HMO, there are a few important things you need to keep in mind. HMO in Edinburgh: What Do Landlords Need to Know? As a landlord of an HMO, it’s your responsibility to get an HMO licence and to manage and maintain the property to a high standard. This means you need to: Be a registered landlord Keep important certificates up-to-date Undertake quarterly inspections and fire training Fit smoke alarms on every level Keep fire escapes clear from obstruction Ensure upkeep of communal areas Make sure waste disposal facilities are in place Are you a landlord interested in letting an HMO property? Here at Cairn, we offer a variety of HMO Development and HMO Property Management services. Get in touch to find out more. What About Students Renting an HMO? As a student living in a house share, it’s helpful to understand the rules around HMO properties. Presuming your property has an HMO licence (you can check by emailing hmo.licensing@edinburgh.gov.uk), your landlord is legally-bound to meet certain safety and cleanliness standards. If you feel as though these standards have slipped, and your landlord isn’t responding, you can flag this to Edinburgh city council. They’re responsible for enforcing these standards and can compel your landlord to take the appropriate action. Are you a student interested in renting an HMO in Edinburgh? We manage several licenced HMO properties in the city. Get in touch to learn more.

Buy To Let, Glasgow, Property Investment, West End

Property Investment in Glasgow: Where to Spend Your Money

Property Investment in Glasgow: Where to Spend Your Money Interested in property investment in Glasgow? Here Cairn profiles the most popular areas of the city. Investing in buy-to-let in Glasgow is a no-brainer. A bustling, modern European city with a vibrant student population, a thriving economy, vital transport links, and huge rental demand, Scotland’s largest city represents a golden opportunity for property investors. But where should you spend your money? Let’s explore Glasgow in a little more detail. Property Investment in Glasgow — Area by Area Glasgow Fast Facts Population: 633,120 (2019) House Price Avg: £193,000 (2020) Monthly Rent Avg: £636 (2020) Rental Yield Avg: 7.8% (the UK average is 4%) 1. The City Centre Home to both traditional properties and modern new-builds, Glasgow’s city centre boasts plenty of choices, no matter your target market. Although many people working in the centre prefer to live outside of its boundaries, many more call it home. This is especially true of Glasgow’s student population. The fashionable Merchant City is worth exploring if you’re looking to rent to young professionals, while areas like Townhead, Charing Cross, and Cowcaddens are all within walking and public transport distance of the city’s universities. 2. The West End The best West End estate agents rarely have trouble letting properties in this stunning part of the city. Popular with young families thanks to its green space, young professionals thanks to its transport links, and students, thanks to its bars, cafes, and proximity to Glasgow University, demand for rental properties here is through the roof. Of course, this level of demand has a knock-on effect, with many of the properties in the West End among the most expensive in Glasgow. But if you find something that works for your budget, you could be onto a winner. Consider areas like Hillhead, Kelvinside, Dowanhill, Yorkhill, and Partick for any of the target markets mentioned above. 3. The East End Home to Dennistoun, recently named the 8th coolest neighbourhood in the world (the WORLD!), the East End of Glasgow is chock-full of character. From the iconic red sandstone tenements to thriving independent businesses, the East of the city is particularly popular with students and young families. Thanks to regeneration activities brought about by the 2014 Commonwealth Games, the East End is beginning to catch up with other parts of the city after years of neglect. Yet it remains cheaper than the city centre and the West End, so you could nab yourself a buy-to-let bargain. 4. The Southside When you venture south of the River Clyde, you’ll find a mixed bag of property investment opportunities. A traditionally industrial area of the city, riverside regeneration has brought a modern feel to many areas, while others remain affected by social problems. Areas like Govan, Ibrox, and the Gorbals offer a variety of affordable property types boosted by vital transport links. Meanwhile, the likes of Shawlands, Newlands, Queens Park, and Langside have a trendy vibe popular with young families and professionals. These properties are pricier, but always in demand. Cairn: Property Investment in Glasgow Whether you’re looking east, west, south, or central, you’ll have plenty of choice in Glasgow Do you want to learn more about investing in buy-to-let properties in the city? Get in touch with our property investment experts today. We’re here to help!

Guides, HMO Properties, Landlords

Getting to Grips with HMO Licencing

Getting to Grips with HMO Licencing Are you a landlord looking to understand HMO licencing better? Here’s everything you need to know. If you’re thinking about renting your property to 3 or more tenants who aren’t related to one another, then you’re going to need an HMO licence. But what is it? Why does it matter? And what are your responsibilities? Let’s dig a little deeper. So, What is an HMO? HMO stands for House in Multiple Occupation. According to GOV.UK, an HMO is any residential property rented by at least 3 people who aren’t from the same household (for example, a family) but who share facilities such as a toilet, bathroom, and kitchen. It’s also known as a “house share”. Letting your property as an HMO is subject to strict conditions. These include: The property can’t be occupied as an HMO without a licence. Even if you have an application pending and it’s likely to be accepted, letting as an HMO without the correct paperwork will land you in hot water. The maximum penalty for doing so in Scotland is a fine of £50,000 upon conviction. The licence is issued by the local council in which the property is situated. The licence is typically valid for 5 years, but this can vary from one council to another. It may be issued for a shorter period if there are concerns over how the HMO property will impact neighbours. The council has the right to assess your property for potential risks. If you fail to comply with safety regulations, you could face criminal prosecution. It’s therefore vital that you ensure your property is safe and compliant before renting it as an HMO. The number of tenants. By law, you can only rent your property to as many people as stated on your licence. This is checked before your licence is issued. Assessors will inspect your property to see how many people can comfortably live there. If you exceed the number of tenants on your licence, you could face a hefty fine. HMO Licencing: Landlord Responsibilities As a landlord of an HMO, the buck stops with you when it comes to managing and maintaining the property and keeping your tenants safe. To stay on the right side of the law, you must: Be a registered landlord Keep important certificates up-to-date Undertake quarterly inspections and fire training Fit smoke alarms on every level Keep fire escapes clear from obstruction Ensure upkeep of communal areas Make sure waste disposal facilities are in place What Are the Benefits of an HMO? While the rules and responsibilities of renting out an HMO can be overwhelming, the benefits more than make up for it. HMOs can produce far higher rental yields than your typical buy-to-let property, and the demand for shared housing is fairly constant, no matter the economic backdrop. Plus, you can always pass those responsibilities onto a property management company (like Cairn) if you’d rather take a back seat. Interested in letting an HMO property? Here at Cairn, we offer a variety of HMO Development and HMO Property Management services. Get in touch to find out more.

Glasgow, Hints & Tips, Properties For Sale

Find Homes For Sale in Glasgow (Before They Go Online)

Find Homes For Sale in Glasgow (Before They Go Online) Looking for property for sale in Glasgow? Follow these tips and find them before they go online. You might think every property sale follows the same old process: a “for sale” sign goes up outside > it’s posted online > there are countless viewings > and, eventually, it’s sold. Simple. But some of the nicest homes for sale in Glasgow won’t make it as far as step one. They’re often snapped up long before they make it to the market, let alone the property websites. So, why does this happen? And how do you get in on the act? Here we share a few tips for finding homes for sale before they go online. How to Find Property for Sale in Glasgow Before It Goes Online 1. Your Glasgow Estate Agent Is Your Best Friend The best estate agents keep a close eye on the local market, with many working closely with sellers to achieve quick, profitable sales. As a prospective buyer, you can do something similar. If you’re clear, friendly, and responsive, outlining exactly the type of Glasgow property you’re looking for (and the budget you’ve got in mind), your local agents might just point you in the right direction. Remember, people do business with people they like, and that works both ways! 2. Get Your Friends & Family Involved Unless you’re keeping your move on the down-low for a reason, it’s a good idea to involve your friends and family in the search. You could even widen the scope to include social media connections and work colleagues. That way, you’ve got ears on the ground. If everyone knows that you’re looking to buy, you might just hear about an opportunity before it goes on the market. 3. Hunting for Flats for Sale in Glasgow: Be Prepared to Pound the Pavement If you know which part (or parts) of Glasgow you’d like to move to, you could be bold and start posting letters or chapping doors. Whether it’s in writing or face-to-face, simply explain who you are, your situation, and ask if they’re interested in selling. There’s no guarantee of success, of course, but you could strike gold. All it takes is one person who’s been thinking of selling and has put it off — until now. You could be the nudge they need. Pro Tip: Make Sure You’re Ready to Buy You’ll always move quicker when you’re ready to move. So if you hear through the grapevine that your dream property is close to the market, you’ll need to have your finances in order to nab it early. Having the cash ready (or a mortgage in principle) makes you seem less risky to the seller. And the idea of a fast sale could convince them to skip the open market and deal with you exclusively. Interested in homes for sale in Glasgow? Make Cairn your new best friend. Tell us what you’re looking for and where — we’re always happy to help. Contact us here. Did you know our Glasgow & Edinburgh branches specialise in Off-Market properties? Learn more about our approach to Tenanted Flats.

Investment, Property Investment

How to Find the Best Property Development Opportunities

How to Find the Best Property Development Opportunities Maybe you’ve been bingeing Homes Under the Hammer and thought “Hey, I could do that!” Or maybe you’ve already renovated one property and now you’ve got a taste for it. No matter the reason why you’re looking for property development opportunities, in this short blog post, we share the two things you need to know when searching for your first (or your next) big project. 1. Property Development Opportunities: It’s All About Location x 3 There’s a well-known phrase when it comes to property development; it’s all about location, location, location. But this isn’t a tired old cliché — you really do need to spot the up-and-coming areas before anyone else. And to do that, you have to scour the internet and pound the pavement. First, look at properties for sale on the likes of Rightmove and OnTheMarket and note their asking prices. Next, read up on new developments (shops, bars, restaurants) and check local newspapers, forums, and social media for insight. Finally, scroll around Google Maps to measure walking and driving distance from important amenities (schools, parks, train stations, etc.). Found an area you like? It’s time to visit in-person and ask yourself: Do any of the properties stand out as having potential? Some property developers like to look for the worst property on the nicest street as this means there’s room for improvement. Is there a variety of property types, or are they all the same? If it’s the latter, this could mean that each house on the street has the same maximum sales potential, so it could be a challenge to add enough value to achieve a healthy profit. Are there any skips or signs of development? This could mean fellow property developers are in the area, or it could mean the owners see enough value in their property to do some renovation work themselves. Either way, you could be onto a winner. Are there new-builds nearby? Whether it’s a shiny new flat complex, student housing, or a new-build estate, these sorts of developments are usually followed by new or improved local amenities. Buying and renovating a nearby property could mean selling while demand is high for the area. 2. Finding the Best Property: Estate Agents Are Your Friends Once you’ve identified your development area, reach out to the local estate agents. Whether it’s a call or an email, introduce yourself and outline what it is you’re looking for in a property. Discuss timelines, financials, and your end goal (place tenants in the property or sell for profit). With the right “profile” of property, the agents can start sending property development opportunities directly to your inbox. This will save you precious time, and they might even send you a hot tip for a property that’s yet to be posted online. The best estate agents know their local market, so if you’re looking for a buy-to-let in Glasgow, a buy-to-let in Edinburgh, or HMO development opportunities, they’ll be able to point you in the right direction. Looking for property development opportunities in Scotland? Make Cairn your new best friend. Tell us what you’re looking for and we’ll be happy to help. Contact us here.

Buy To Let, Edinburgh, Hints & Tips, Landlords

Tips for Letting Edinburgh Property During the Festival

Tips for Letting Edinburgh Property During the Festival Are you a landlord interested in letting Edinburgh properties during the festival? Read on. So, you’ve got yourself an Edinburgh property within walking distance of the most popular Fringe venues, and you’re wondering if you should rent it out for the summer? You’re not alone. Many Edinburgh residents get out of dodge when the Festival rolls into town, and they often make a pretty penny by putting their property on the short-term rental market. But before you let those flashing pound signs cloud your judgement, there are a few things you need to know. Here we share our top tips for letting Edinburgh properties during the world’s biggest arts festival. COVID Disclaimer: At the time of writing, the 2021 Edinburgh Fringe is “under construction”. However, these tips are evergreen and can be used whenever the festival returns to normal, whether that’s this summer or beyond. Letting Edinburgh Properties During Festival Season 1. Make Sure Your Mortgage Allows Short-Term Lets First thing’s first, you need to ensure you’re allowed to market your property as a festival let. You might think that your buy-to-let mortgage has you covered, but this generally requires that you let the property for a minimum of six months. Instead, you need a special holiday-let mortgage — and these are more expensive and difficult to acquire owing to increased risk and uncertainty. Even trying to fly under the radar by putting your property on sites like Airbnb could leave you in breach of your mortgage contract, so while tempting, it’s ultimately not worth it. 2. Don’t Rush Into Anything — Always Vet Your Tenants When you let your property long-term, both you and your tenant are guided by various legal obligations and responsibilities. However, when you let short-term, your tenants may not feel as responsible, given that they’re only staying for a few days or weeks. This means you could end up renting to someone who fails to take care of your property in the same way a long-term tenant would. And this could leave you out of pocket and chasing payment for repairs should the worst happen. Just remember, festival lets are always in high demand, so there’s no need to rush. Take your time and vet your tenants to find someone you can trust with the keys to your property. 3. Move Your Valuables Into Storage Most short-term renters understand that they’ve booked another person’s home for the duration of the festival, so at a minimum, they’ll expect furniture, cutlery, utensils, and other bits and pieces. But they’ll also want to feel at home during their stay. So it’s a good idea to pack away your personal belongings, assorted knick-knacks, photographs, and any other valuables. Also, don’t forget to lock away important documents, like bank statements or passports. Or better yet, take them with you. 4. Take Plenty of Photos (Before & After) Finally, similar to renting long-term, it’s best practice to take plenty of photos immediately before and immediately after a short-term tenancy. That way, you have a record of the condition of the property should you need to pursue the tenant for any damage that occurs during their stay. Interested in Letting Your Edinburgh Property? Talk to Cairn Whether you’re interested in renting Edinburgh properties short-term or long-term, Cairn can keep you right. Get in touch with our Edinburgh property experts today.

Edinburgh, Hints & Tips, Properties For Sale

Find Flats For Sale in Edinburgh (Before They Go Online)

Find Flats For Sale in Edinburgh (Before They Go Online) Looking for flats for sale in Edinburgh? Follow these tips from Cairn and find them before they go online. Here’s something you might not realise: Some of the nicest flats for sale in Edinburgh are snapped up long before they make it to the market, let alone the property listing websites. So, how do these seemingly psychic house-hunters keep beating you to the punch? In this post, we share some of our favourite proactive property-searching tips: How to Find Flats for Sale in Edinburgh Before They Hit the Market 1. Get to Know Your Local Estate Agents The best estate agents work hard to keep their fingers on the pulse of the local market. And many develop close working relationships with sellers to achieve quick, profitable sales. As a buyer, you can aim to do the same. By getting to know your local agents (being clear, friendly, and responsive in the process), you might just get a few hot tips in return. This is especially true if you know exactly what you’re looking for in an Edinburgh flat for sale (and you have your finances in order). If something matching your specifications becomes available, an agent will often be happy to let you know before it hits the market. 2. Build a Team of Flat-hunters Unless you have your reasons for keeping it a secret, tell your friends, family, colleagues, social media connections, and anyone else who’ll listen that you’re looking for flats for sale in Edinburgh. That way, if they hear through the grapevine that someone they know or a friend of a friend is looking to sell, they can let you know ASAP. Word-of-mouth is an underrated way of finding properties, but it’s certainly effective! 3. Don’t Underestimate the Power of Letter Writing Do you know which part (or parts) of Edinburgh you’d like to move to? If so, crack those knuckles and get writing. Post letters through doors in the area(s) you’re interested in, explaining who you are, your situation, and asking if they’d be interested in selling their property. This approach is a numbers game. Most may discard your letter, but for some, it could plant a seed. Maybe they’ve been thinking about selling and simply discovering that there’s interest could be the push they need. Or, if you’re feeling particularly brave, you could knock on doors. Just be prepared for rejection. 4. Keep an Eye on the Rental Market Finally, it’s worth remembering that everything is for sale at the right price. If you see a property for rent that ticks all your boxes, there’s no harm in reaching out to the letting agent and inquiring about the possibility of buying it. Again, some landlords may have thought about selling up, especially if they’re finding it difficult to keep tenants, or if they live outside the city or country. By simply asking the question, you could prompt them to do a deal. Bonus Tip: Make Sure You Have Your Financial Ducks in a Row It’s easier to move quickly when you’re ready to move. So, if you get wind of a dream property edging towards the market, and you want to nip in there and nab it early, you need to have your finances in order. When you have the cash ready (or a mortgage in principle), you’ll seem less risky to the seller. And the attraction of a fast sale could encourage them to avoid the open market and deal with you exclusively. Interested in flats for sale in Edinburgh? Get to know Cairn a little better. Reach out and tell us what you’re looking for — we’re always happy to help. Contact us here. Did you know our Glasgow & Edinburgh branches specialise in Off-Market properties, Learn more about our approach to Tenanted Flats here.

Glasgow, Landlords, Letting, Services, Tenants

Switching Letting Agents in Glasgow: Advice for Landlords

Switching Letting Agents in Glasgow: Advice for Landlords Are you a landlord thinking of switching letting agents in Glasgow? Read on for some advice from Cairn. Expensive maintenance charges. Substandard repairs. Poor communication. Late rent payments. And every time you call, it’s someone different on the other end of the line — and they don’t know you or your property. As a landlord, the last thing you need is a letting agent mismanaging your property. If the above sounds familiar, it could be time for a change. And despite some common misconceptions, switching letting agents is easier than you think. Moving Letting Agents in Glasgow: Common Misconceptions Many landlords see changing letting agents as a hassle they can live without, so they stay loyal to an agency, even if they’re not meeting expectations. Others think they need to wait until the property is empty before switching, while some simply don’t see the point in moving. After all, a letting agent is a letting agent, right? Wrong. Let’s deal with these misconceptions, one by one: 1. “I have to wait until the end of the tenancy before changing agents.” This isn’t true. The Tenancy Agreement is between you (the landlord) and your tenant. The agency has been hired to manage your property — switching agents won’t impact the agreement. In fact, it’s often easier to change agents with a tenant in place, as it means the new agent can take over the management of the property without the additional need to advertise and place a new tenant. 2. “Every Glasgow letting agent is the same; there’s no point in switching.” Most letting agents provide similar services. However, the way in which these services are delivered can vary from one agent to the next. Think of it like having a favourite coffee shop, even though you can get a coffee almost anywhere. There’s more to it than simply getting what you asked for. Likewise, the very best letting agents in Glasgow are doing more than making sure rent is collected on time. They’re fully regulated, understand the legislation involved, prioritise quality customer service, and offer professional and reliable communication at all times. 3. “Moving to a new letting agent is more fuss than it’s worth.” Switching from an underperforming agent to one who values a strong working relationship and cares for your property and its tenants is absolutely worth the fuss — if it can even be considered “fuss” in the first place! In reality, there’s little you need to do in order to switch. Beyond giving your current agent written notice that you plan to leave, your new agent will handle everything on your behalf. Case in point… Switching Letting Agents in Glasgow (It’s Easier Than You Think) At Cairn, we make switching simple. From liaising with your current agent to communicating with your tenant(s), we take care of every last detail, including: The acquisition of a detailed handover from your current agent. This will include information related to rent arrears, payment plans, planned maintenance, and outstanding tenant requests; The transfer and recording of the latest safety certificates; The transfer of all keys, up-to-date inventory, and the current lease agreement (if applicable); And the provision of a new point of contact and updated bank details for rent payments to your tenant(s). You are appointed a property manager so you are dealing with one point of contact. Our qualified and experienced property managers conduct audits on documents sent to us to ensure that all legal responsibilities are met and the landlords interests are protected. If you’re interested in changing letting agents in Glasgow, visit our Getting Started page or contact our friendly team for more information.

Edinburgh, Hints & Tips, Selling

Choosing Edinburgh Estate Agents: How to Make a Shortlist When Selling in the Capital

Choosing Edinburgh Estate Agents: How to Make a Shortlist When Selling in the Capital Selling your property in or around the capital? You’ll need to make a shortlist of the best Edinburgh estate agents for starters. But what should you look for, and where should you look? Here we share our top tips: Building a Shortlist of Edinburgh Estate Agents 1. Check for Legitimacy First thing’s first, you need to make sure the Edinburgh estate agent in question is a legitimate, trustworthy organisation. And the quickest way to do this is to check their website for professional body memberships and testimonials. If you spot the Scottish Association of Landlords or The Property Ombudsman logos, for example, alongside strong customer reviews, you’ll know that you’re dealing with an agency committed to doing things right. 2. Look at Their Photos + Videos While you’re on their website, take a look at some of their listings. Are the photos high-quality? Have the rooms been dressed and presented professionally? Do they offer video tours? You’re looking for an Edinburgh estate agent that understands how to entice potential buyers with eye-catching imagery. “No Images Available” just won’t cut it. 3. Read Their Property Descriptions Sticking with the listings, read a few of the property descriptions. Are they detailed and engaging? Do they cover the basics before diving into the particulars? Do they paint a picture of the property, the area, and the amenities? Or are they short, vague, and riddled with typos? You’re not looking for Shakespearean prose, but the words are as important as the pictures. 4. Review Their Social Media Activity Nowadays, more and more people are searching for — and sharing — properties on social media. With that in mind, you’ll want an estate agent with their finger on the pulse, active on the most popular social platforms. 5. Search Where They List Properties When it comes to selling property in Edinburgh, it’s all about getting eyeballs on your listing. To that end, you need an estate agent that’s familiar with the leading property portals. If they’re only sharing your property on their website instead of Zoopla, OnTheMarket, Rightmove, and more, that could be a red flag. 6. Visit the Edinburgh Estate Agents in Person (When You’re Allowed) Finally, it’s important to remember that people buy people. You’ll want to put your sale in the hands of an Edinburgh estate agent who’s knowledgeable, likeable, and motivated. So, when you’re allowed, make an appointment to visit their office (or arrange a call or video chat in the meantime) and get to know them better. And once you’ve followed those six steps, you can whittle down your list to two or three candidates. Now you can talk in detail about services, listen to their pitch, and discuss fees. Good luck! Add Cairn to Your List of Edinburgh Estate Agents Thinking of selling your Edinburgh property? Get in touch today to have a chat or arrange a valuation.

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Edinburgh, HMO Properties, Landlords, Student Accommodation, Tenants

Renting an HMO in Edinburgh: Advice for Landlords & Students

Buy To Let, Glasgow, Property Investment, West End

Property Investment in Glasgow: Where to Spend Your Money