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Edinburgh, Buy To Let, 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.
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.
Edinburgh, Buy To Let, HMO Properties, Investment, Student Accommodation
4 Huge Reasons Why You Should Buy-to-Let in Edinburgh
In truth, there are loads of reasons to invest in buy-to-let property. From passive income and tax planning to long-term capital growth, it remains a popular and lucrative investment opportunity. But why should you focus your attention on buy-to-let in Edinburgh specifically? In this short post, we take a look at 4 reasons why Scotland’s capital remains in-demand with property investors. Why Buy-to-Let in Edinburgh? 1. A growing population The population of Edinburgh has been trending upwards since the 1990s and shows no signs of slowing. As of 2020, it sits at a whopping 536,775, 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 bearing in mind if you’re trying to choose between the two cities. 2. 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, not just for its outstanding educational facilities, but also for its rich history, architecture, and nightlife. According to a recent census, full-time students comprise around 12% of the city’s population — and these students need somewhere to live! Investing in high-quality HMO student accommodation can meet that demand and deliver greater yields for property investors. 3. Opportunities for young professionals As we mentioned, Edinburgh’s population is growing rapidly, and a significant factor in that growth is the younger generation calling the city home. Around 20% of the population are in their 20s (only Aberdeen has a higher percentage in Scotland) and 15% are in their 30s. And as of 2018, the Scottish capital was the most prosperous UK city outside London. Around 40% of the workforce are in high-skilled jobs, with an average full-time salary of £30,700. This certainly ticks a few boxes for would-be property investors; namely young, full-time working professionals with a high level of disposable income. 4. The biggest arts festival in the world In 2019, a record 3 MILLION people descended on Edinburgh for the largest arts festival going. And although new legislation will be introduced in 2021 to control Airbnb-style short-term lets, the sheer number of tourists and performers visiting the city each year represents a massive opportunity for property investors, both in the short and longer-term. Cairn: Buy-to-Let Edinburgh Experts Interested in exploring buy-to-let opportunities in Edinburgh? Get in touch with our property investment experts to learn more about our approach and services.
Edinburgh, Estate Agency, Glasgow, Letting
Check out our new responsive, faster to use Website !
Check out our new responsive, faster and easier to use Website ! We listened to our Landlords & Tenants and are very excited to announce the launch of our new state of the art website. The new site features improved navigation and clean, fresh design as well as introducing you to our four key defined business areas, Investors, Tenants, Landlords & Estate Agency. We wanted to make the new website faster, easier to navigate, and more user-friendly and Its integral for us to make our tenant facing information easily accessible and informative for our tenancies. As well as still marketing properties on all the leading property engines, Cairn have invested in a our new website to help deliver our unrivalled service even more efficiently online. www.CairnEstateAgency.com
Edinburgh, Cities, Investment
Edinburgh Included In The Top Three European Cities For Property Investment
Edinburgh Included In The Top Three European Cities For Property Investment Many of you will have seen that London is seen as one of the places in Europe to invest in property. But it would appear the tide is slowly starting to turn. Analysis from property consultancy CBRE has shown that Edinburgh property investment conditions are on the rise, more […]
