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Hints & Tips, Tenants
Going Home for Christmas: Everything Tenants Need to Know
Going Home for Christmas: Everything Tenants Need to Know The Christmas holidays will soon be upon us, which means you’re probably already making plans to go home and eat your body weight in turkey and mince pies. However, before you head off to celebrate the festive season with your loved ones, you must ensure your property is safe and secure. Not only is Christmas a popular time for burglaries, but household problems are also more common during this season. Issues such as burst pipes and boiler breakdowns can often occur during the winter months as temperatures plummet. So, read on to find out the top things tenants need to know before going home for Christmas. 1. Check all windows and doors are locked Always check (and double-check) that all the windows and doors are shut and securely locked when you leave the house to go home for Christmas. If you have a spare key, make sure it’s not hidden in a place that’s easily accessible. Thieves are accustomed to checking in obvious places such as under doormats and flowerpots. Instead, leave it with a neighbour you trust. And if your property has a burglar alarm installed, make sure it’s set before you leave for Christmas. 2. Make the house look occupied Another way to deter burglars from breaking into your home is to make it look occupied. You can do this by leaving a light on or hanging coats up in the porch or hallway. In some houses, you can set the lights to switch on at a specific time with an electronic timer. This can be an easy and affordable way to create the illusion that someone is at home during the festive period. Also, avoid broadcasting your plans on social media since this can make criminals aware your property is empty. 3. Carry out essential property maintenance Drainage issues are common during the winter months. However, fortunately, you can often quickly fix them yourself. Try using a drain unblocker and plunger before calling an emergency plumber to your home at Christmas. You should also ensure your radiators are bled and that the boiler pressure is topped up. Keep in mind that any emergency callouts not classified as emergencies will be chargeable to you. Callouts over Christmas can be very costly. 4. Find out utility companies phone numbers We recommend having the phone numbers of your utility companies on hand in case of emergency. If there’s a power cut in your area, please contact SP Energy Networks If there’s no water in your area, please contact Scottish Water 5. Check smoke alarms are working It’s essential to think about fire safety when leaving your property to go home for Christmas. Check the smoke alarms on all levels to ensure these are working (replacing batteries, if necessary). You should also ensure there are no fire hazards while you’re away, such as Christmas tree lights left on or overloaded electrical sockets. Have a safe and happy Christmas from all of us at Cairn! Going home for the holidays lets you spend quality time with friends and family — and take a well-earned break from your work or studies. However, if you plan on vacating your property for longer than two weeks, please make sure you let us know. Contact us here. We hope you have a wonderful Christmas and a Happy New Year!
Hints & Tips, Property Investment
How to Find New Property Development Opportunities
How to Find New Property Development Opportunities Identifying property development opportunities can be challenging, whether you’re an experienced investor or you’re new to the game. To succeed, you’ll need to learn how to recognise those hidden gems in the property market. This could involve snapping up a rundown house ready for major refurbishment or finding a flat in an area that will soon be regenerated. The trick is to spot those qualities that will ensure a property sells for more than you paid for it. Read on for our top tips. Cairn’s Top Tips for Spotting Property Development Opportunities 1. Find public land for sale Finding public land for sale can be a good option for developing property. When land is put up for sale, it’s advertised in the public domain, with the government and local councils not legally allowed to sell sites off-market. Transparency is required throughout the sales process. To find out about land for sale, check out your local council’s website. 2. Visit property auctions Property auctions can be good places to find development opportunities. Since you’re likely to face less competition than when buying in the traditional way, you may be able to secure property at a discount. You can save a lot of money when buying at a property auction — however, there are a few things to be wary of. One of these is to always visit the site before committing to a sale. If you don’t, you could find that there are issues that could prevent you from maximising your investment potential. Most importantly, you’ll need to be sure of your decision before you bid. Once the gavel falls, the deal is finalised, with no requirement to exchange contracts. 3. Identify regeneration hotspots When looking for property development opportunities, it’s a good idea to keep tabs on those areas which are set to undergo regeneration works. Investors should always be on the lookout for regeneration hotspots since they signify future growth and demand. Urban regeneration usually leads to better amenities that attract new residents. Identifying homes in areas that are undergoing development often allows you to make a significant profit once local property prices have increased. Read more: Edinburgh Property Investment: Is It Worth It? 4. Work with an estate agent to find property development opportunities Of course, one of the best ways to find development opportunities is to work with an estate agent who is experienced in property development. This can save you a lot of time while also gaining expert insight into the local property market. Maintaining and developing a solid relationship with an estate agent puts you in a good place to hear all about great property development opportunities before they become public knowledge. Working with an estate agent is particularly advisable if you’re looking to make your first property investment. Read more: Buy-to-Let Glasgow Hotspots For expert advice in identifying property development opportunities, get in touch today. Our team are highly experienced in assisting property developers in Scotland, making us best placed to help you find the right opportunities to maximise your returns.
Hints & Tips, Glasgow, Student Accommodation, West End
HMO Letting Glasgow West End: Advice for Students
HMO Letting Glasgow West End: Advice for Students HMO letting Glasgow opens up a variety of options for students studying in and around the West End. Here we share our top tips. Glasgow’s West End is a lively area popular with students at the city’s many colleges and universities. With beautiful Victorian architecture, a variety of shops, bustling nightlife, and lush green parks, it’s a highly sought after place to live in the city. Many students are attracted to HMOs since they provide affordable – and arguably more sociable – accommodation. If you’re considering renting an HMO in Glasgow, read on to find out everything you need to know. Are There Many HMOs in Glasgow’s West End? Since Glasgow’s West End is where Glasgow Uni’s Gilmorehill Campus is located and where you’ll find the grand main building and many key teaching and research facilities, it’s no surprise that the area is awash with students. In fact, in Hillhead, at the beating heart of the West End, 40% of the population is aged between 16-29. There’s a vast range of student accommodation here, with rooms in HMOs often available for rent during and outside of term time. Licensed HMOs provide safe and affordable accommodation for student tenants. What Should I Consider When Viewing an HMO? When considering HMO letting Glasgow, we recommend using an HMO letting agency. Look for an agency with professional body membership such as The Property Ombudsman and the Scottish Association of Landlords. These agents will have licenced HMOs on their books and can help you find safe and certified accommodation to suit your needs. You can check if a landlord has a valid HMO licence by contacting the local housing department. They will have a list of all licenced HMOs. As well as ensuring that an HMO is licenced, you’re also within your rights to ask to see a gas safety certificate and electrical safety certificate. When viewing an HMO, check that it has working smoke alarms, carbon monoxide detectors, and fire extinguishers on each level of the property. A good HMO letting agency should provide fire and safety training for new tenants. Also, don’t be afraid to ask questions during a viewing. Suggestions include: “What broadband do you have, and who pays for it?” “Is there any shared storage?” “Does a cleaner attend the property?” “Is there parking?” “Is the furniture included?” “How do we report a repair?” “Will my deposit be protected?” Asking as many questions as possible will help you decide if this is the right accommodation for you. Find Out Who You’ll Be Living With Students HMOs tend to be shared houses, where tenants eat and socialise together. Therefore, it’s a good idea to find out who you’ll be living with (if you don’t already know). This is especially important if you’ll be signing a joint tenancy with others living there since you’ll be responsible for any rent payments they miss. Ask a few questions to learn what kind of people live in the house. Asking what they do at weekends can help you establish if it’s a quiet, studious environment or filled with partygoers. Above all, it’s important to trust your instincts when meeting other tenants in an HMO. If you feel uncomfortable around them for whatever reason, it’s probably best not to take the room. HMO Letting Glasgow: Talk to the Specialists HMOs can be ideal for students seeking reasonably priced, friendly accommodation. The West End is a vibrant student community offering a wealth of high-quality shared housing. Contact us today to find an HMO in this thriving part of the city.
Hints & Tips, Buy To Let, HMO Properties, Investment, Landlords, Services
How Can HMO Specialists Help Me Prepare My Property?
How Can HMO Specialists Help Me Prepare My Property? Are you planning on converting a property into an HMO? If so, you’ve made a wise investment decision. Although there may be more work involved in letting HMOs, they tend to offer significantly higher rental yields than single buy-to-lets. This is simply because you’ll be collecting rent from a higher number of tenants. But there are several steps you’ll need to take before you can start reaping the financial rewards of an HMO, from obtaining the necessary licence to making it habitable for multiple tenants. HMO specialists can help you tick every box when preparing your property, making the conversion to an HMO much easier. Why Work with HMO Specialists? 1. HMO Licensing A critical aspect of preparing your HMO property is acquiring the relevant licence. If three or more unrelated people are renting a property, it’s classed as an HMO (a house in multiple occupation). You’ll need to contact your local council to apply for a licence to let your property as an HMO in Scotland. A licence normally lasts for three years, and you’ll need to renew it before it runs out. HMO specialists can help you apply for the necessary licence while also making sure it’s renewed before it expires. Read more about HMO licencing here. 2. Safety Checks and Equipment As well as helping you to acquire a licence, HMO specialists can also assist you with other essential compliance measures. These include carrying out safety checks and ensuring that the property has all the required safety equipment, including smoke alarms, carbon monoxide detectors and fire extinguishers. An expert HMO letting agent will send all the relevant certificates to your local authority when required. These include gas safety certificates, portal appliance tests, and electrical installation condition reports. An HMO specialist can also ensure that your tenants have undergone the necessary training to maintain and test the safety equipment. 3. Ensuring “Fitness for Human Habitation” When converting your property into an HMO, you’ll need to consider the Homes (Fitness for Human Habitation) Act 2018. This piece of legislation came into force in 2019 and states that all rented accommodation needs to be suitable for human habitation at the beginning of the tenancy and throughout. The Act gives tenants greater powers to hold landlords to account if the property is below standard. HMO specialists can assist you in ensuring that your property is fit for human habitation by carrying out ongoing maintenance and liaising with tenants. HMO properties tend to require more maintenance than single buy-to-lets due to the higher number of people living in them. As such, it makes sense to work with an HMO specialist who has connections with certified local tradespeople. This will ensure that any necessary repairs are carried out quickly and to high standards, helping you to comply with all of your legal obligations. Cairn: HMO Specialists Since 1999 An HMO can help you to maximise the potential of your rental portfolio. However, you need to make sure you’re complying with all your legal responsibilities as a landlord. As seasoned HMO specialists, we can help guide you every step of the way. Cairn has been assisting HMO landlords since 1999 with everything from licence applications to essential safety checks, tests, and training. Contact us today to learn more about our HMO management services.
Hints & Tips, Buy To Let, HMO Properties, Landlords, Student Accommodation, Tenants
3 Reasons Why You Need an HMO Letting Agency for Your Property
3 Reasons Why You Need an HMO Letting Agency for Your Property Need help choosing the right HMO letting agency for your property? We’ve got you covered. HMOs can make fantastic investments, with rental yields for these properties far higher than standard buy-to-lets. Meanwhile, the demand for shared housing among professionals and students continues to grow due to its affordability and flexibility. So, if you’re a landlord thinking about investing in an HMO property, you might be wondering: do I go it alone, or should I work with an HMO letting agency? Here, we share three reasons why enlisting the help of an HMO letting agency can make all the difference. Why You Need an HMO Letting Agency 1. They Can Help Finding Suitable Tenants When it comes to letting out an HMO and maintaining cash flow, you must find the right tenants. Doing so reduces the turnover of tenants and keeps voids to a minimum. This is where an HMO letting agency really earns their corn. As well as using the most effective advertising techniques, an HMO letting agency will also interview prospective tenants to match them with existing housemates. They’ll also seek references from previous landlords and carry out the usual credit and employment checks on your behalf. 2. They Provide Ongoing Support An HMO letting agency won’t just help you find suitable tenants; they’ll also maintain solid relationships with them (and their neighbours). HMOs often require a more active, hands-on approach to management due to their popularity with student tenants. A good HMO letting agent will treat your investment as their own, ensuring rent is paid on time and issues, such as repairs or complaints by neighbours, are taken seriously and addressed promptly. 3. They Offer Expert HMO Licencing Advice For many landlords, HMO licencing can cause quite a bit of stress and confusion. An HMO letting agent can burden that responsibility and make sure your property is compliant with the necessary rules and regulations from day one. In Scotland, a property that is let to three or more tenants from more than one household is considered an HMO and will need a licence. An expert letting agency can assist you with the application process, providing advice and guidance along the way. And since an HMO property can be inspected at any time, it must be maintained to the highest standards year-round. An HMO letting agency can help with this, too, recommending any remedial works to bring the property up to scratch. The best letting agents have experienced tradespeople in their contacts, who can then be hired to carry out the work as soon as possible — saving you from penalties, fines, and unhappy tenants. The Qualities of a Leading HMO Letting Agency The leading HMO letting agents all have a few things in common: they’re knowledgeable, passionate, and have strong relationships with key stakeholders, from tenants and neighbours all the way to the HMO department of the local council. They should also boast a strong reputation in the local area. We’ve managed HMO properties since 1999 and are the go-to HMO specialists in Glasgow and Edinburgh. Choosing the right HMO letting agent can be the key to achieving maximum rental yields and keeping tenants happy. Contact us to discuss your HMO property with an experienced agent.
Hints & Tips, Buy To Let, Investment, Property Investment
How to Find a Property Portfolio for Sale in Scotland
How to Find a Property Portfolio for Sale in Scotland Read on to discover how to find a property portfolio for sale in Scotland. Some investors choose to buy a single buy-to-let property. Others, meanwhile, opt to build a full-blown property portfolio — and with good reason. There are several potential benefits to building a property portfolio. You can gain access to multiple income streams and achieve longer-term financial security. And if you’re looking for a property portfolio for sale in Scotland, it makes sense to work with a knowledgeable local estate agent. Find a Property Portfolio for Sale with Cairn When buying a property portfolio, working with an expert local estate agent is the best place to start. Estate agents often have multiple property portfolios for sale and can offer you expert advice and guidance to help make sure an investment is right for you. At Cairn, we’ve sold 24 portfolios to investors throughout Scotland in the last six months, making us best-placed to help you acquire successful buy-to-let properties. Here’s how we do it: We help you identify your goals When looking for a property portfolio for sale in Scotland, you first need to think about what you want to achieve. Do you want to benefit from an increase in property prices over time? Or are you eager to boost your earnings through rental income? Chances are, it’s a combination of the two. An experienced estate agent can help you identify your goals and suggest properties that fit your long-term plan. This can reduce the chances of any expensive mistakes further down the line. You can tap into our expert local knowledge One of the biggest reasons to buy a property portfolio with our help is our excellent local area knowledge. We know what has been sold locally (and for how much) and what is due to come to the market in the near future. This means you can quickly snap up profitable properties for your portfolio. We can also provide you with key information about a particular area, such as whether it’s safe and desirable to potential tenants. The end goal: maximise your rental income We’ve worked with many buy-to-let investors to ensure they get the best possible yield for their properties. We can also advise on how to minimise void periods between tenancies. Any good estate agent knows that keeping your property occupied means more rental income for you. Our buy-to-let team makes the process of letting your properties easy and stress-free from the outset. We go above and beyond for our clients, often achieving rents in excess of the regional average. Find Property Portfolios for Sale with Cairn As one of Scotland’s leading local estate agents, you can feel confident we can help you build and expand your property portfolio. We have a proven track record in helping investors to secure profitable buy-to-let investments, with multiple portfolios sold within the last six months alone. Get in touch to learn more.
Hints & Tips, HMO Properties, Landlords
7 HMO Licencing Questions Landlords Need to Ask
7 HMO Licencing Questions Landlords Need to Ask Interested in renting out an HMO property? Ask these HMO licencing questions first! HMOs can be fantastic investments, sometimes offering rental yields up to three times higher than traditional buy-to-let properties. However, despite their appeal to landlords, they come with challenges, not least an array of constantly changing legal requirements, costs, and deadlines. Keep reading to discover the 7 HMO licencing questions landlords need to ask. HMO Licencing FAQs: 1. How long does the HMO licence take to come through? One of the most common questions asked by HMO landlords is how long the licence takes to come through. Although you may be in a rush to find tenants and start generating rental income right away, you could need to wait up to 12 months for the licence to be granted. 2. How much does an HMO licence cost? Your first HMO licence will cost £1906, with further applications costing £953. If you run more than one HMO, you will require a separate licence for each home. If your HMO licence application is turned down, the local authority will refund the fee. 3. How long does an HMO licence last? An HMO licence usually lasts for 3 years. You need to renew it before it runs out. Remember that renewing it could take some time, so it’s important to apply in advance of its expiration. There are penalties for running an unlicensed HMO, and landlords who fail to apply for a licence in time could face steep fines. 4. How do I make my HMO compliant with regulations? Many landlords are concerned about ensuring their HMOs are compliant with the latest regulations. There are rules surrounding HMO licencing, minimum room size, gas and fire safety, furniture and furnishings, and more. You can read about HMO landlord responsibilities here. The good news is that when you hire a reputable letting agency that specialises in HMOs, they can undertake a full survey of your property and arrange for any necessary work to be carried out. 5. How many tenants can my HMO have? The number of tenants you can place in your HMO can vary, making it somewhat confusing for landlords. If the property is licenced, then the licence will determine this. Generally, a property is considered an HMO if it’s shared by three or more people who are members of more than two ‘families’. If the property is unlicensed, you can only put two unrelated people in the property unless the owner is also living there too. 6. What do I need to put in the bedrooms? Landlords are required to furnish bedrooms within an HMO with a minimum of a bed, mattress, wardrobe, a chest of drawers, and curtains. There are specific dimensions for these that need to be adhered to. Keep in mind that the furniture you provide must also meet the fire resistance requirements stated in the Furniture and Furnishings (Fire) (Safety) Regulations 1988. 7. Do I need to provide crockery and cutlery as part of the HMO licencing? Since many tenants prefer to use their own crockery and cutlery, you may want to avoid adding these when kitting out the kitchen in your HMO. More often than not, it’s an unnecessary cost and a headache when it comes to providing an inventory to new tenants. Do You Have More HMO Licencing Questions? Cairn’s Got the Answers For further advice on HMO licencing, simply get in touch. We’ve helped many landlords begin profitable HMO businesses in Scotland. We’re here to provide expert advice and guidance.
Hints & Tips, Investment, Tenanted Properties
5 Reasons Why You Should Buy Tenanted Properties
5 Reasons Why You Should Buy Tenanted Properties Interested in buying tenanted properties? You’re not alone! A growing number of buy-to-let investors are snapping up properties with tenants in place, attracted by higher net yields and the promise of reliable tenants who’ve shown they can pay on time. So, whether you’re buying to let for the first time or you’re looking to add to your portfolio, here’s why purchasing a tenanted property can be a fantastic investment. Reasons to Buy Tenanted Properties 1. You get an immediate cash flow For many investors, the most significant benefit of buying tenanted flats is that they provide an immediate cash flow. The property won’t sit empty while you look for new tenants. You get rental income from day one. Established tenants are also less likely to request expensive improvements to the property since the previous landlord often deals with them before selling. However, if major repairs or refurbishments are required, you can factor these into your negotiation. These factors mean a property’s net yield is usually higher than with vacant buy-to-let investments. 2. Tenanted properties are a fixed price investment In most cases, estate agents will market tenanted properties at a fixed price. Fixed price properties rarely achieve more than this value, which means you can have a high degree of confidence that it’s the maximum price you’ll need to pay. This can reduce the stress involved in the purchase — you don’t need to worry about a property going to a closing date. 3. You can check the tenant’s history When you buy a property with sitting tenants, you can check their history to make sure they’ve been paying their rent on time and in full. Dealing with non-payment of rent can be one of the most time-consuming and stressful situations for landlords. In some cases, it can mean you fail to meet your monthly buy-to-let mortgage payments or even falls into arrears. Knowing that the tenants are honest and reliable before you invest can help you avoid a lot of unnecessary hassle in the long run. 4. You have confidence it’s a fully compliant property Since your tenants already live in the property, you won’t need to arrange all the mandatory certificates and safety checks. The previous landlord will have already carried these out. When you buy the property, the necessary documentation will simply be transferred to you so you know when the next checks are due. What’s more, if you choose to stay with the existing letting agent, they can arrange them on your behalf to ensure the property remains compliant. 5. It’s audited and sourced by a letting agency A knowledgeable, local letting agent will be able to carry out an in-depth audit on the tenanted property to ensure that it’s a sound financial investment. Here at Cairn, we’ve sourced many quality buy-to-let properties with sitting tenants. Our team can offer expert advice and guidance to both new and experienced investors. Interested in Buying Tenanted Properties? Let’s Talk There are plenty of reasons why buying tenanted properties makes sense. If you’re interested in learning more, contact us today to discuss the investment opportunities available to you.
Hints & Tips, Edinburgh, Landlords, Letting
A Short Guide to Letting in Edinburgh
A Short Guide to Letting in Edinburgh Interested in letting in Edinburgh? Here’s what you need to know. With Edinburgh property as sought after as ever, buy-to-let opportunities haven’t lost their appeal. Average rents are up 39% in the past ten years according to ESPC, demonstrating the fantastic long-term investment potential the rental market offers. If you’re a first-time landlord, read our short guide to letting Edinburgh properties. 4 Things You Need to Do When Letting in Edinburgh 1. Register your rental property Before you can let out your property, you’ll need to register with the City of Edinburgh Council. Since this is a legal requirement, failing to do so could land you in hot water. You could even face a £50,000 fine in some cases. To register as a landlord, visit the Scottish Landlord Register website or contact your local housing department. 2. Understand your responsibilities Letting out your rental property isn’t a simple case of finding tenants and pocketing the rent each month. As a landlord, you have a wide array of responsibilities you’ll need to carry out to ensure you comply with the law. This includes creating tenancy agreements, securing deposits in a tenancy deposit scheme, and arranging Energy Performance Certificates (EPC). You must also take steps to ensure your tenants are safe while living in your property, such as annual fire safety, electrical safety, and gas safety checks. 3. Market your property Don’t underestimate the importance of marketing your rental property when letting in Edinburgh. There are many properties available for rent in the capital, and yours must stand out from the crowd to stand a chance. Although it can be tempting to skip the marketing process to save money, it’s essential when it comes to finding quality tenants who can be relied upon to pay rent on time each month. A local letting agent can market your property using various methods, making sure it’s visible and appealing to as many prospective tenants as possible. 4. Carry out repairs quickly When letting in Edinburgh, you may have to carry out repairs in your rental property. You need to ensure the property meets two sets of standards: the Repairing Standard and the Tolerable Standard. Always carry out repairs in a reasonable amount of time. What is considered “reasonable” depends on the type of repair. If the problem makes the property unsafe, you’ll need to get it fixed as quickly as possible. However, many landlords either don’t have time or live too far away to make or manage repairs to their properties. Fortunately, if you choose a fully managed letting service, your agent can arrange the repairs on your behalf. Letting in Edinburgh with Cairn Property Edinburgh remains one of the best cities in the UK for buy-to-lets. Not only does it have a growing population and a thriving economy with over 50,000 businesses, but it also has six universities, making it ideal if you want to let out your property to students. Work with a reputable Edinburgh letting agent (like Cairn) to maximise the potential of your buy-to-let investment in the Scottish capital. Contact us to learn more about our letting services. .flex_column.av-8egpo-b95516b53cac3006319c6f701afd6499{ -webkit-border-radius:0px 0px 0px 0px; -moz-border-radius:0px 0px 0px 0px; border-radius:0px 0px 0px 0px; padding:0px 0px 0px 0px;
