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Edinburgh, Letting
Maximising Rental Return: Cairn Edinburgh’s Premier Letting Agent
Maximising Your Rental Returns with Cairn: Edinburgh’s Premier Letting Agency Navigating the Edinburgh rental market can feel like a roller coaster ride, thrilling yet full of twists and turns. With average rents escalating to £1,372 per month and time-to-let averaging a speedy 18 days, landlords are truly on an exhilarating ascent. As an esteemed Edinburgh Letting Agency, Cairn is here to make sure you not only enjoy the ride but also reap the maximum benefits. The rental market in the Scottish capital is nothing short of a gold mine, especially for those with two-bedroom properties which have seen a staggering 78.5% increase in rental rates over the past decade. A property in Edinburgh is not just a home; it’s a long-term investment that keeps on giving. Whether you are a seasoned property mogul or a new landlord dipping your toes in the rental waters, Cairn’s comprehensive letting services are designed to help you make the most of this thriving market. With an eye-catching “TO LET” board, we announce your property’s availability to the world. Our digital marketing strategy ensures your property is featured on key online residential letting portals, including RightMove and Zoopla, as well as Cairn’s own website and social media channels. Tangible marketing efforts, like our property list and window card, further boost your property’s visibility. Cairn’s services extend beyond marketing. We host open or accompanied viewings to showcase your property to prospective tenants. Our tenant-finding process is meticulous and efficient, cross-referencing our extensive database of active tenants to find the perfect fit for your property. Our diligent vetting process, which includes credit, employment, and income checks, ensures that your tenants are reliable and capable. In a market as vibrant as Edinburgh’s, compliance is key. We assist with landlord registration and organise inspections to ensure your property meets all statutory standards. Rent and deposit collection are seamlessly managed, with the deposit transferred into the Tenancy Deposit Scheme and rent collected in advance. We take care of every aspect of tenancy creation and termination, from preparing the lease and handling the lease signing to transferring utilities and council tax into the tenants’ names. We also issue notices for rent increases and tenancy termination, ensuring that every legal aspect is covered. Our commitment to you doesn’t end once the tenants move in. We carry out regular inspections, manage any property-related queries, and arrange contractors for necessary repairs. Our comprehensive reporting keeps you updated, ensuring your property remains a rewarding investment. In a city where two-bedroom flats in EH12 yield a whopping 6.8% return and three-bedroom properties in EH8 follow closely with 6.5%, it’s clear that the Edinburgh rental market is attractive for landlords. Cairn, your trusted Edinburgh Letting Agency, is here to ensure you play smart and find your winning formula. Let’s embark on a property journey together and make the most of the booming Edinburgh rental market.
Edinburgh, Estate Agency
Edinburgh Estate Agency: Selling Your Home for the Best Value
Edinburgh Estate Agency: Selling Your Home with Cairn for the Best Value In the heart of the beautiful and bustling city of Edinburgh, a subtle shift in the property market is making waves. Recent figures suggest that although prices in the city have seen a 5% increase over the previous year, there has been a slight dip in the early months of 2023. The average property price has gently eased to £277,326, with properties taking a marginally longer time of 22 days to sell. In a market as vibrant and competitive as Edinburgh’s, selecting the right estate agency to represent your interests is more crucial than ever. That’s where Cairn, a reputable Edinburgh Estate Agency with offices in both Edinburgh City and Portobello, steps into the spotlight. Cairn, a leading player in the central Scotland’s property landscape, recognises the nuanced ebb and flow of the Edinburgh property landscape. We provide our clients with an honest, accurate valuation based on comprehensive market data and a wealth of industry experience. Understanding that a decrease of even 2% in property prices can be significant, we ensure our valuations reflect the latest market conditions while maximising the value of your home. Our services extend beyond mere valuations. We guide you through the entire process, from the initial home report to finalising the legal aspects. We can recommend industry professionals for your home report and offer advice on any improvements suggested. Furthermore, our trusted conveyancing partners can provide fixed-fee services, ensuring clarity and certainty throughout the legal process. As we all know, selling a home is not just about numbers—it’s about presentation, too. Cairn’s marketing approach is all-encompassing, utilising both digital and tangible strategies. We design a professional quality listing, highlighting the best features of your home, complete with a floor plan. Your property will feature on our website, key online property portals such as Rightmove and Zoopla, and across our active social media channels. To tap into our existing network, we circulate a property list to our purchaser database weekly. In a market where properties are in high demand and often subject to bidding wars, presentation is key. We host open or accompanied viewings, offer home staging advice, and provide immediate feedback after each viewing. This, coupled with our prompt follow-ups on queries and regular progress reports, ensures a seamless experience for you as a seller. Cairn’s comprehensive approach to selling properties in Edinburgh is tailored to the unique demands of the market. The dip in property prices and the slight increase in selling time underline the need for a dedicated, experienced estate agency that understands the local market. As a seller, you want an agency that not only maximises your property’s value but also ensures a smooth, hassle-free selling process. Cairn, your trusted Edinburgh Estate Agency, is equipped to do just that. Trust Cairn to navigate the subtleties of the Edinburgh property market and deliver results that exceed expectations.
Edinburgh, Estate Agency
Unlock Success with Cairn, Edinburgh’s Property Specialists
Unlock Success in Edinburgh’s Property Market with Cairn, Edinburgh’s Property Specialists Are you planning to sell your home in Edinburgh? With the city’s property market thriving, it’s essential to choose the right estate agent to guide you through the process and secure the best possible outcome. Cairn, a leading Edinburgh estate agency, offers unparalleled expertise and tailored services to help you successfully navigate the local market. In this article, we’ll discuss the advantages of partnering with Cairn and why we stand out among Edinburgh property companies. Over the last year, properties in Edinburgh saw an overall average price of £334,164, with sold prices rising by 6% compared to the previous year . This growth highlights the ideal opportunity to sell your home in Edinburgh and achieve an excellent return on your investment. Operating two Edinburgh branches including our central Edinburgh HQ, Cairn’s experienced property team understands the unique aspects of Edinburgh’s wider property market, including popular neighbourhoods such as Portobello. With its beautiful sandy beach and vibrant community, Portobello is a highly sought-after area, and our team is well-versed in its local property trends with a branch strategically situated here. Our comprehensive services are designed to meet your needs and exceed your expectations at every stage of the selling process: Accurate Property Valuation: Our in-depth market knowledge allows us to provide you with a precise, competitive valuation, ensuring your property attracts the right buyers. Expert Marketing Strategies: Cairn employs a mix of traditional and digital marketing techniques to showcase your property to a wide audience. From high-quality photography and bespoke property descriptions to online advertising on top property portals and social media promotion, we leave no stone unturned in our efforts to find the perfect buyer for your home. Personalised Staging and Presentation: We offer tailored advice on home staging, focusing on your target market and budget. Our skilled agents will also host open or accompanied viewings, presenting your property in the best possible light to prospective purchasers. Proactive Communication: At Cairn, we believe in maintaining open lines of communication with our clients. We keep you informed throughout the entire process, providing prompt feedback on viewings and interest, as well as regular progress updates. Skilled Negotiation: Our team of experienced negotiators works diligently on your behalf to secure the best possible terms and price for your property sale. When you choose Cairn as your Edinburgh estate agency, you can trust that our dedicated team will handle every aspect of your property sale with professionalism and care. Our commitment to delivering outstanding results sets us apart from other Edinburgh property companies, making us the ideal partner for your property sale journey. If you’re ready to experience the best in Edinburgh property, contact our Edinburgh branches today. Let us demonstrate our passion for excellence and unmatched expertise in the Edinburgh property market, it’s exactly why we’re already a popular choice.
Edinburgh, Buy To Let
Buy-to-Let in Edinburgh: Where to Look?
Buy-to-Let in Edinburgh: Where to Look? Looking for the best areas to buy-to-let in Edinburgh? This post’s for you… Edinburgh is one of the best places to buy-to-let in the UK. With six universities, a thriving commercial centre (boasting over 50,000 businesses), and a growing population projected to reach 586,566 by 2043, it’s the ideal city for expanding your rental portfolio. But if you want to maximise your income on a buy-to-let investment, you must choose the area carefully. Depending on your budget and target market, some parts of the city will make more sense than others. Read on to discover the best locations for buy-to-let investors in Edinburgh. But first… Why Buy-to-Let in Edinburgh? There are several great reasons to consider Edinburgh property investment in 2023. According to a study by commercial property advisor Colliers, the Scottish capital was named the second best city for residential property investment in the UK — Cambridge was first, and London came fourth. The city’s house price growth, high-quality universities, and strong economic performance all combined to help Edinburgh nab the runner-up spot. And with a population that’s been trending upwards since the early 90s, there’s no shortage of demand for rental properties among students, professionals, and families. Read More: 4 Huge Reasons Why You Should Buy-to-Let in Edinburgh Five Buy-to-Let Edinburgh Hotspots: The Best Postcodes in Edinburgh For Property Investment 1. EH16 – Liberton and surrounding areas Average property price: £260,000 EH16 is a consistently popular area for buy-to-let in Edinburgh. Covering Liberton (and the neighbouring suburbs of Craigmillar, Peffermill and Niddrie), EH16 offers various residential properties. Liberton is situated around three miles from the city centre, making it ideal for both professionals and students. Liberton High School, renowned for academic and sporting achievements, makes rental properties in this part of the city particularly sought after by families. Search for properties for sale in EH16 2. EH17 – Gilmerton, Moredun and Mortonhall Average property price: £285,000 Benefiting from good access to the city bypass, homes in EH17 (Gilmerton, Moredun and Mortonhall) appeal to tenants who need to reach other areas of the city or venture further afield. The area is also close to many of the University of Edinburgh’s buildings, making it popular with students. Search for properties for sale in EH17 3. EH11 – Try Dalry or Gorgie for Buy-to-Let in Edinburgh Average property price: £230,000 Southwest of the city centre, EH11 covers Dalry and Gorgie. With excellent transport links, it’s no surprise that properties here are popular with a wide range of tenants. Homes in EH11 also tend to be more competitively priced, making it an ideal area for investment. And since this is an up-and-coming part of Edinburgh, you can expect to make a healthy ROI. Search for properties for sale in EH11 4. EH7 – Broughton, Hillside and Lochend Average property price: £260,000 The area of Broughton is in high demand. Both young professionals and students enjoy its proximity to the city centre — but without the high housing costs associated with other areas. Bars, restaurants, cafes, and delis line Broughton Street, making it a vibrant and highly sought-after area. Property in Broughton, as well as neighbouring Hillside, tends to attract higher selling prices. For more competitively priced property, take a closer look at the area of Lochend. Search for properties for sale in EH7 5. EH8 – Newington and Canongate Average property price: £290,000 EH8 is a fantastic location for students attending the University of Edinburgh, with Newington and Canongate both situated near university buildings and an array of bars, eateries, and shops. And with Holyrood Park and the Meadows right on the doorstep, there are plenty of green spaces to enjoy. If you want to rent to students in Edinburgh, properties in the EH8 district should be your first port of call. Search for properties for sale in EH8 Buy-to-Let in Edinburgh with Cairn Property The best areas for buy-to-let properties in Edinburgh will always come down to the type of property you’re looking for and the person (or people) you’re targeting. Do you want to rent an HMO to students? Or would you prefer to let your property to a young professional or a family? Working with an experienced property investment company, like Cairn, can help you answer all of these questions and more. We’ll help you determine the best business model for your situation and zero in on the location and property type you require. And when you’re ready to rent, we can handle the marketing and ongoing management of your property on your behalf. If you’re interested in buy-to-let opportunities in Edinburgh, get in touch with our property investment experts to learn more about our approach and services.
Edinburgh, HMO Properties
Cairn: HMO Specialists in Edinburgh
Cairn: HMO Specialists in Edinburgh As HMO specialists in Edinburgh, we regularly write about the benefits and considerations of renting an HMO in Scotland’s capital, whether that’s from the perspective of a landlord or a tenant. In this post, we’ve pulled together the most important links, definitions, and information, all in one place. If you’re thinking about renting an HMO in Edinburgh, make sure you read this first. Firstly: What is an HMO? An HMO (House in Multiple Occupation) or “house share” is a residential property where three or more unrelated people rent and share facilities (such as a bathroom, toilet, and kitchen). HMOs are a great way for landlords and tenants to spread the risk of renting. However, for a property to qualify as an HMO, it must meet strict licensing requirements. All HMO properties in Edinburgh are licensed by the local council, and the council will typically inspect properties before issuing a licence. The licence means HMO landlords are responsible for the following: Quarterly inspections and fire training Smoke alarm installation on every level Clearing fire escapes of obstruction Keeping communal areas clean and tidy Ensuring waste disposal facilities are in place In addition to this, the rooms in the property must be of adequate size, and any gas and electrical appliances must be certified safe. An approved HMO property must have its licence prominently displayed. When is an HMO Licence Not Needed? There are a few situations where an HMO licence won’t be required. For example, if a tenant is living with their landlord, the landlord doesn’t count as one of the unrelated people. Similarly, by law, a landlord does not require a licence if two of the tenants are a couple. This is defined as “married or civil partners, or living together as husband and wife or, where they are of the same sex, in an equivalent relationship”. You can read more about HMO licensing requirements on this page: HMO Letting with Cairn. What Are the Benefits of HMO Letting in Edinburgh? There are a few benefits to renting an Edinburgh HMO property, for both tenants and landlords: For tenants: You can split the bills between more people, potentially saving you more money than if you were renting alone or with one other person. HMOs in Edinburgh are popular with the city’s college and university students, allowing them to live affordably off-campus and cook together to save money. For landlords: You’ll likely receive a higher rental yield when letting an Edinburgh HMO, while void periods are often reduced due to high demand from students and young professionals alike. HMOs also mean you can collect rent from several tenants, so if one is late, it shouldn’t hurt your cash flow as much as it would with a standard let. Are There Any Disadvantages to Renting an HMO? There are a few minor downsides to renting HMO properties in Edinburgh worth noting: For tenants: If one of your flatmates is late with their share of the rent, the rest of you could be on the hook for it. This can cause tension, particularly if you don’t know one another all that well prior to living together. For landlords: There are far more regulations and responsibilities involved in letting an HMO property compared to a standard let. And success can often hinge on your tenants living together peacefully! Our HMO Specialists Edinburgh Resources: Choosing HMO Letting Agents in Edinburgh – Are you a landlord looking for the best HMO letting agents in Edinburgh? This post tells you everything you need to know. Renting an HMO in Edinburgh: Advice for Landlords & Students – If you’re interested in renting out (or living in) an HMO, there are a few important things you need to keep in mind. In this post, we explain all. 4 Huge Reasons Why You Should Buy-to-Let in Edinburgh – Are you a landlord thinking about investing in an HMO in Scotland’s vibrant capital? Here are a few reasons why it remains a popular and lucrative idea. Getting to Grips with HMO Licencing – Are you a landlord looking to understand HMO licencing better? This post explains everything. Cairn: HMO Specialists (Edinburgh) We’ve been managing fully licensed HMO properties in Edinburgh for several years. Whether you’re a landlord or a tenant, when you rent with Cairn, you’re in good hands. We meet all licensing requirements, move tenants in safely, and carry out quarterly inspections to make sure the property is secure, clean and comfortable, as per the HMO conditions. Are you interested in renting an HMO property in Edinburgh? Get in touch to learn more.
Edinburgh, Buy To Let, Investment, Property Investment
Edinburgh Property Investment: Is It Still Worth It in 2023?
Edinburgh Property Investment: Is It Still Worth It in 2023? Interested in Edinburgh property investment? Here, we explain why it’s still a great idea. Investing in buy-to-let in Edinburgh is a no-brainer. Scotland’s cosmopolitan capital boasts stunning properties, a thriving economy, a growing student population, and huge rental demand. In short, it’s the ideal mix for property investors. But why should you spend your money here in 2023? Let’s explore the attraction of Edinburgh in a little more detail. Edinburgh Property Investment — Why Invest in the Capital? Edinburgh Fast Facts Population: 548,000 (2022) House Price Avg: £338,000 (2022) Monthly Rent Avg: £1,327 (2022) Typical Rental Yield: 4% – 6% (the UK average is 4%) Auld Reekie: A City On the Rise It might seem odd to describe a city first founded before the 7th century AD as one “on the rise,” but in property investment terms, that’s Edinburgh in a nutshell. The (Second) Best UK City for Property Investment According to a major study by commercial property advisor Colliers, the Scottish capital came second as the best city for residential property investment in the UK — pipped to the post by Cambridge (London came fourth). The city’s house price growth, high-quality universities, and strong economic performance helped Edinburgh take silver in this particular contest. But there were a variety of other impressive points worth noting where Edinburgh property investment is concerned, including: 1. Historically Low Unemployment Rates Edinburgh’s unemployment has been historically much lower than in most other UK cities, with students and young professionals drawn to the area thanks to higher education and employment opportunities. With more people working, demand for rental properties remains high, while rental rates stay competitive. 2. A Beacon for Major Employers More and more employers are setting up shop in Edinburgh due to its large population, diverse economy, and highly skilled workforce. A powerhouse of the Scottish economy, key sectors include financial services, software and technology, tourism, and retail. 3. A Commuter’s Dream Edinburgh City is incredibly well-connected to its surrounding areas, with several major roads, train lines, and other public transport links converging on the capital. If your property investment budget doesn’t stretch to the city centre, you could still take advantage of Edinburgh’s magnetic draw by looking to the outskirts. 4. A Thriving Student Market Edinburgh is home to 6 universities and 3 colleges. The city attracts students from across Scotland, the UK, and the rest of the world — and these students need to live somewhere! Consider investing in high-quality HMO student accommodation in Edinburgh to meet the demand from student tenants and earn greater yields than standard buy-to-let properties. 5. A Population That Could Soon Rival Glasgow Edinburgh’s population has been on an upward trend since the 1990s, and it shows no signs of slowing. As of 2022, it sits at a whopping 548,000, and this is projected to grow to over 603,000 by 2035. This means it could rival — and even overtake — Glasgow at some point in the near future. And a growing population means a greater demand for housing stock. Worth keeping in mind if you’re trying to choose between the two cities! Read more: Property Investment In Glasgow: Where To Spend Your Money in 2023 So, Where to Buy? Edinburgh Buy-to-Let Hotspots We dig a bit deeper into the postcodes and places to buy in Edinburgh in this post: Buy-to-Let in Edinburgh: Where to Look? But if you want the headlines, here goes… The southwest is an up-and-coming part of the city, with competitively priced properties and fantastic transport links. Check out EH11 and Dalry and Gorgie in particular. EH16 (Liberton and surrounding areas) is consistently popular for buy-to-lets. Situated a mere three miles from the city centre, it’s ideal for students and professionals alike. The neighbouring areas of Broughton, Hillside, and Lochend also offer close proximity to the centre, but without the high costs associated with other parts of the city. Trendy bars, cafes, and restaurants make this a vibrant and sought-after locale. Ready to invest in Edinburgh? Start your property search here. Cairn: Edinburgh Property Investment Experts So, is purchasing a buy-to-let property in Edinburgh worth it in 2023? Absolutely — so long as you know where to look. That’s where we come in. Our property investment experts are ready to help you find your next buy-to-let opportunity in the capital. Get in touch to learn more.
Edinburgh, Landlords, Letting
Edinburgh Letting: New Landlords, Read This
Discover everything you need to know about Edinburgh letting for first-time landlords. Some people become landlords by accident. They move in with a partner and want to hang on to their property. Or they relocate for work and don’t want to sell their home. So, they decide to rent it out. Others are more deliberate, viewing buy-to-let as a sensible long-term investment. No matter how you’ve arrived at your decision to let out your Edinburgh property for the first time, this post is for you. Here, we lay out the steps you need to take before you become a landlord, and what you need to do once you’ve found your tenants. New to Edinburgh letting? What you need to do before renting out your home Before you even contemplate putting your home up for rent, you need to make sure your mortgage lender allows it. If you have a standard residential mortgage, you’ll have to ask for “consent to let,” which is where your lender will give you permission to rent out your property with a residential mortgage. This is usually for a set amount of time. Otherwise, you’ll need to switch to a buy-to-let mortgage. If you don’t have a BTL mortgage and you try to rent your property on a residential mortgage without consent to let, you run the risk of breaching your contract. And if that happens, it could result in your lender demanding instant repayment of the full mortgage balance! Once you have the mortgage sorted, the next step is to amend your insurance policy to include landlord insurance. Having tenants living in your property can affect your liability. You must also register as a private landlord with the Scottish Landlord Register. Everyone named on the title deeds must do so. Failure to register is a criminal offence and can result in a fine. You can register as a landlord here. Finally, if you’re planning on renting to three or more unrelated people, this will be classed as a house of multiple occupancy (HMO). HMOs require an additional licence. Learn more about Edinburgh HMOs here. Found your tenants? Here’s what you need to do next First, it’s important to note that there’s a lot of responsibility that comes with being a landlord. If you’d rather take a hands-off approach, working with a local property management company (like Cairn) can be a big help. Learn more about our management services here. However, if you want to try your hand at being a DIY landlord, there are several things you’ll need to do: Conduct all viewings of the property Get references for all tenants Take deposits and move funds from tenants Ensure all compliance is in place for the tenants’ move-in (safety certificates/maintenance/cleaning) Conduct inventory Create the correct tenancy agreement and ensure all parties sign it Meet with your tenants and give them a tour of the property. Show them how to switch off the electricity, how to reset a blown fuse, and how to switch off the water supply in an emergency — plus anything else specific to your property. Once you’ve received your tenant’s deposit, you’ll need to place it into a Tenancy Deposit Scheme within 30 working days of the start of the tenancy. You should also notify your tenant in writing which scheme is holding their deposit. Finally, you should notify the local authority and the property’s utility providers that a tenant is moving in (and that you no longer live there) so that the Council Tax account and energy accounts can be updated. You should also let your tenant know that you’ve done this. Of course, your responsibilities as a landlord don’t end there. Throughout the tenancy, you must: Respond to reactive maintenance/emergency out-of-hour issues (weekends and evenings) Conduct periodic inspections of the property Handle tenant complaints Handle neighbour complaints Collect rent/chase rent if in arrears And at the end of the tenancy, you must: Conduct a move-out inspection Handle deposit deductions/deposit disputes Re-advertise the property and start the process all over again If this seems like too much to handle, we have friendly and qualified staff here at Cairn ready to help you with the management of your property. Whether it was accidental or on purpose, if you’re entering the world of Edinburgh letting as a landlord, Cairn can help. We can look after everything to make sure you remain compliant and your tenant enjoys a safe and happy experience. Contact us here to learn more.
Edinburgh, Glasgow, Hints & Tips, Student Accommodation, Tenants
Cost of Living: Money-Saving Tips for Student Tenants
Cost of Living: Money-Saving Tips for Student Tenants The cost of living crisis is biting hard, and many students are feeling the pinch. According to the 2022 Student Money Survey, the average student now spends £924 per month, while 82% of students worry about making ends meet. What’s more, four in five have considered dropping out of university at one point or another. If you’re living away from home during your studies and you’re struggling with money worries, here are a couple of handy tips to help you save and spend wisely in rented accommodation. Cost of Living Tips: Advice for Student Renters Be energy-aware to cut bills Some rental properties will bundle up the rent and utilities into one payment. However, it’s more common for tenants to pay the electricity and/or gas bills themselves. Try to be mindful of your energy usage to lower your monthly bills. Don’t leave lights on when rooms are empty (and switch to energy-efficient LED bulbs where possible); keep doors closed so heat doesn’t escape; try to charge laptops, tablets, and smartphones at uni, and don’t leave your gadgets plugged in and on standby all day and night. If you have flatmates, consider cooking together regularly (you can split the cost of the ingredients, too). That way, you’re all in the same room, and the oven/microwave/hob is getting used once rather than several times one after the other. Bonus points if you use a slow cooker — it can be far cheaper to run, as per the table below, and you’ll often have plenty left over. With the new 52p/kWh electricity cap, here’s how much certain items and devices will roughly cost to run. Take a note of where you can cut down usage to save money. Item Cost 1 kWh fan heater/ electric radiator 52p/hour 2kWh fan heater/electric heater £1.04/hour 3 kWh immersion heater £1.56/hour 5w LED light bulb 0.26p/hour 60w light bulb 3.12p/hour 40w electric blanket 2p/hour 8KG washing machine (A rating) 26p/cycle 8KG washing machine (D rating) 55p/cycle Tumble Dryer – Heat Pump – A rating £1.13/cycle Tumble Dryer – Condenser – C Rating £2.33/cycle Oven 52p/hour Electric hob halogen per ring 85p/hour Electric hob induction per ring £1/hour Microwave 900w 47p/hour 200w slow cooker 10p/hour 42” TV 6p/hour Computer monitor 1p/hour Xbox One S 6p/hour PS4 7p/hour Amazon Echo Dot 0.2p/hour Sonos One 0.7p/hour Google Nest Mini speaker 0.2p/hour Laptop 2.5p/hour American style fridge freezer 2.5p/hour 60p/day Freestanding fridge freezer 1.45p/hour 35p/day Under counter fridge 0.6p/hour 16p/day 7.5kWh electric shower 6.5p/min 9 kWh electric shower 7.8p/min Can’t switch energy providers? Switch your broadband deal instead Most fixed-rate energy deals are off the table at the moment, and switching energy providers is harder than ever. But that doesn’t mean you can’t switch and save elsewhere. Changing broadband providers can be a great way to shave a few pounds off your monthly expenses. Broadband prices are pretty competitive at the moment, and a few of the big-name providers (like BT and Virgin) even offer special student deals, usually on a rolling contract. Check out Save the Student’s guide to the best student broadband deals to see if you’re on the best deal. Heads up: before switching any utility provider, check the terms of your contract. There might be a fee for cancelling the contract early, which could make switching more expensive. If you’d like to get more posts like this in your inbox, sign up for our regular newsletter.
Edinburgh, AirBNB, Legislation
cAIRnBNB
Ever considered renting out your property at a higher monthly rental figure with no stress as someone else is taking care of all the set up for you– sound too good to be true? With over 20 years of property management experience, particularly in the highly regulated HMO market, we are delighted to announce Cairn BNB which is a natural fit to our existing management services. We offer a strictly ‘hands on’ BNB experience, tailor-made specifically for you, whilst maximising your overall monthly rental income. We pay close attention to market trends and any upcoming local events to ensure all prices fall in line with accurate rental prices across the board. Cairn BNB presents a fantastic opportunity to earn higher income where the fast-paced environment is both exciting and highly profitable, as opposed to the traditional professional letting route. Read about the new legislation directive from the Scottish Government – click here. New hosts and operators ( Did you know ? ) If you were not using your premises to provide short term lets before 1 October 2022, you cannot take bookings or receive guests until you have a licence. All hosts and operators need to have a licence by 1 July 2024. There are four types of licence for short term let accommodation Secondary letting – the letting of property where you do not normally live, for example a second home that is let to guests Home letting – using all or part of your own home for short-term lets, whilst you are absent. An example of this could be whilst you are on holiday Home sharing – using all or part of your own home for short-term lets, whilst you are there Home letting and home sharing – operating short-term lets from your own home while you are living there and for periods when you are absent You can find the latest information about the regulation of short term lets at https://www.gov.scot/publications/short-term-lets/. At Cairn we have a dedicated AirBnb ( Short-term Let ) specialist, Mark Coll – today we asked Mark for his comments on the new legislation changes. “At this moment in time, the information on licensing for short term lets is very vague where more information will be released when rules come into force on October 1st. What we do know is that any properties currently operating before this date can still operate under the assumption that landlords apply for a licence before April 1st 2023 and have it granted by July 1st 2024. Any new short term letting landlords operating after October 1st are not allowed to let their properties out until a licence has been applied for and has been granted otherwise there could be a firm penalty – this is extremely important to know and to not get caught out. My advice would be to be prepare in advance of this date and start contacting your local authorities now for more information to get the best footing for when the legislation takes effect. After October 1st we will have a much clearer vision of the direction and future of short term lets where Cairn BnB will be the first to offer any advice and guidance on the next steps to getting things up and running for your property on the short term letting market. Please get in touch if you’d like to know more information on this or if you would like to get up and running prior to the October 1st deadline.”
