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Hints & Tips, Glasgow, Landlords, Letting
A Short Guide to Letting in Glasgow
A Short Guide to Letting in Glasgow Interested in letting in Glasgow? Here’s what you need to know. Buy to let in Glasgow is booming, with demand for rented homes soaring in recent years. Scotland’s biggest city remains an attractive option for students and young professionals, and properties are being built in prime locations targeted at these demographics. According to ECA International, this has driven up rental prices, with Glasgow seeing the highest increase in the UK over the last year. So, if you’re a first-time landlord interested in letting property in Glasgow, read on for Cairn’s most important info, tips, and advice. 4 Things You Need to Do When Letting in Glasgow 1. Register with the local council When renting out properties in Glasgow, you have to register with the local council. Registering your property before letting it ensures it meets the minimum legal requirements. Keep in mind that if you rent out a property before registering with Glasgow City Council, you could face a hefty fine (up to £50,000). To apply for landlord registration, contact the local housing department or visit the Scottish Landlord Register website. 2. Find suitable tenants Finding reliable tenants who will pay rent on time and respect your property is one of the most important aspects of a successful buy-to-let in Glasgow. However, you won’t secure good tenants by accident. Marketing your property will make it more attractive, with appealing visuals giving it the edge over others in the area. A local letting agency in Glasgow can help you market your rental property effectively, helping you find and secure suitable tenants quickly. 3. Understand your responsibilities As a landlord in Glasgow, you have a wide range of responsibilities. As well as drawing up a tenancy agreement and securing the deposit in an approved tenancy deposit scheme, you’ll need to: Arrange an Energy Performance Certificate (EPC); for advertising. Ensure your property meets the Repairing and Tolerable Standards at the start and throughout the tenancy. Meet safety requirements such as installing smoke alarms and carry out a gas, electrical and water system checks. Pay overseas landlord tax (if applicable). And maintain the property’s structure and exterior. You’ll also need to carry out common repairs within the property. Although your responsibilities as a landlord can seem overwhelming, a letting agency can carry out many of these duties on your behalf, making life so much easier for you! 4. Deal with disputes promptly When letting out properties, disagreements happen. For example, perhaps a tenant wants you to repair or replace something, and you don’t think it’s your responsibility. Whatever the reason for the dispute, you’ll need to find a way to deal with it quickly. If you can’t resolve the issue by talking to your tenant, you may consider getting advice from the Citizens Advice Bureau (CAB), the Legal Services Agency, or your solicitor. Many people find dealing with tenants disputes one of the toughest parts of being a landlord. This is why many choose to work with a local letting agency. Having the support of an experienced and qualified property manager with a vast knowledge in the Repairing and Tolerable Standards, as well as a landlords responsibilities will take the stress and worry away from dealing with any difficult disputes. At Cairn, all our staff are fully qualified to ensure they can handle and resolve any disputes quickly and efficiently to the landlords and the tenants satisfaction. Letting in Glasgow with Cairn Property Buying and letting out Glasgow properties can be a fantastic investment, with increasing demand for homes and rising rental prices making it an attractive prospect. However, there’s a lot to consider when renting out a property in the city, with many responsibilities placed squarely on a landlord’s shoulders. Fortunately, a local letting agency (like Cairn) can handle many of these duties, from finding the right tenants to making sure you’re complying with your legal obligations. Contact us to learn more about our letting services. .flex_column.av-qp6g3d-694ba03245f5f999b6d55385abe07316{ -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;
Hints & Tips, Glasgow, Letting
How to Choose Letting Agents in Glasgow
How to choose letting agents in Glasgow Looking for letting agents in Glasgow to help rent your properties? Here are our top tips. With the demand for rental properties in Glasgow greater than ever, there’s never been a better time to buy-to-let here. However, rather than letting out your property yourself and running into problems down the line, it makes sense to work with a reputable local letting agency. Read on to find out how to choose letting agents in Glasgow. 6 Tips For Choosing Letting Agents In Glasgow 1. Assess their local property knowledge There may be hundreds of letting agents advertising their services in Glasgow, but how many of them have expert local property knowledge? When you choose a letting agent with experience in renting similar properties in your area, you can expect them to deliver the expert advice you need to make your investment a success. Focus on finding agents who know the area well. Not only can they be relied upon to value your property accurately, but they’ll also be on hand to carry out viewings in person. 2. Evaluate their marketing methods Marketing is crucial for finding the right tenants for your rental property — it’s essential to find letting agents in Glasgow who place significant focus on it. Find out what methods they use to market properties, taking a close look at how well they’re listed online. Have they used enticing visuals and video that gives them the edge over other properties? Do their properties stand out from the crowd? If so, there’s a good chance that particular letting agency can do the same for your property. 3. Consider your requirements When choosing letting agents in Glasgow, you’ll need to consider your requirements carefully. Do you need a fully managed service or will a let-only service do? If you’re an inexperienced or time-short landlord, a fully managed service could be the best option. This means your agent will handle everything on your behalf, from finding tenants to dealing with repairs and disputes. However, if you’re prepared to manage the tenancy yourself and only want your agent to find tenants for you, a let-only service may be more appropriate. Take some time to think about how much time and expertise you have to commit to your buy-to-let investment in Glasgow. 4. Check reviews and testimonials Online reviews are worth their weight in gold when it comes to choosing a letting agency in Glasgow. They let you read honest and impartial feedback from people who’ve already used the company’s services. Scouring the internet for reviews and testimonials can help you to find a reputable letting agent with a proven track record for managing rental properties in the city. 5. Credentials & LARN Always ensure a Letting agency is registered, each professional agency has a LARN number and that should be on display and available on request. By law, all agencies must use a tenant deposit scheme ie Safe Deposit Scotland, look out for how your chosen letting agent deals with disputes, ideally disputes are settled through third tier tribunal processes. Investing in agency staff is also an important tell tale sign, look for an agency that demonstrate qualified, fully trained staff – these can often be recognised through the credibility of having a SAL or ARLA accreditation. 6. Knowledge is key It is important to ask questions to ensure the letting agent appointed is knowledgeable with current legislation and procedures. Consider asking questions like ‘how do you reference tenants?’, ‘how do you check that my property is being looked after throughout a tenancy?’, ‘how to you handle tenant arrears?’, ‘how do you manage maintenance?’, ‘how do you handle tenant evictions?’, ‘do you have any experience with the First-tier Tribunal?’, ‘Can you help me with my HMO license?’. Having an experienced and knowledgeable letting agent will ensure that you have the best support possible when difficult situations arise in your rental property. At Cairn, we have fully qualified property managers with a wealth of experience in handling difficult letting situations. We have specialists in our office on hand to help you with HMO applications, tenant arrears, evictions and Tribunal applications if necessary. Looking For Letting Agents In Glasgow? Choose Cairn With the vast majority of landlords in Glasgow hiring letting agents to manage their rental properties, their importance is clear. They can help you to find and retain reliable tenants, helping you maximise the profitability of your buy-to-let investment. Finding the right letting agent can make life so much easier for you, taking away much of the stress that comes with being a landlord. Take your time to choose a local letting agent who you can rely on to manage your property to a high standard. A letting agent like Cairn. Contact us to learn more about our letting services.
Hints & Tips, Landlords
Case Study: Is Your Letting Agent Performing For You?
Case Study: Is Your Letting Agent Performing For You? A mismanaged property isn’t always obvious. Small things, like patchy communication and substandard repairs, can sometimes fly under the radar, while late rent payments and expensive maintenance charges can be explained away as the cost of doing business. This leads to many landlords remaining loyal to their current agent, even if the agent isn’t delivering as promised. Besides, changing agents is too much hassle, right? Well, we’re here to tell you that moving letting agents is actually easier than you might think — and it could save you lots of money. Here’s how one of our clients benefited by making the switch to Cairn: How We Saved Our Client Over £500 per Month Our client had a lovely property in the city centre of Glasgow, managed by a local agent. Unfortunately, the property had sat vacant for a little over a year, which resulted in the dreaded 200% council tax charges. The COVID-19 pandemic was offered up as an obvious excuse for the lack of movement, but when they started receiving bills for over £500 a month, they decided it was time to switch. This led them to Cairn, and within a week, we had their property looking great and on the market. Before moving to Cairn, our client had been told time and again that the rental market was “slow” over the past year. We were delighted to prove this claim wrong. Within a fortnight, we had an application for the property, and in under a month, we had a new tenant in place. What we did to help To make the switch a smooth one, we did the following: Liaised with the current agent, requesting and receiving the necessary documentation for the property. We then reviewed this internally and made a plan of action. Arranged a thorough property inspection to determine the current condition. We then provided quotes for any necessary repairs. Advised the owner of what was required and arranged to undertake certificates/works to bring the property back up to standard. Marketed the property across our website, social media, and the leading property portals. Conducted all viewings, handled the paperwork, and placed a tenant within 4 weeks. What our (very happy) client said: Once those bills for over £500 a month started coming in, enough was enough. We approached Cairn and the switching process was straightforward. They handled almost everything. The only job I had was to arrange key collection. Even though their team appreciated the urgency to get our property back on the market and rented out, I was shocked at how quickly they managed it. I can’t thank the team at Cairn enough for their efforts. They are professional, dedicated, and efficient and I would have no hesitation recommending them in the future. Interested in moving letting agents? Read our simple six-step process. With another letting agent? Get a FREE property audit from Cairn and make sure your obligations as a landlord are being met. Contact us today.
Hints & Tips, Buy To Let, Landlords, Property Investment, Property Partners
Looking for Portfolios for Sale? 4 Things You Need to Consider
Looking for Portfolios for Sale? 4 Things You Need to Consider Interested in portfolios for sale? Read this short blog post for advice. Building a property portfolio can take time, money, and know-how. The best property investors and buy-to-let landlords have built their mini-empires with patience and hard work. But there is a faster way: you could simply purchase a ready-made property portfolio. However, finding portfolios for sale requires careful planning, and in this post, we share 4 important questions you need to ask before you start moving money around. Portfolios for Sale: 4 Questions to Ask 1. Have you done your due diligence? No matter the size of the property portfolio in question, the biggest mistake you can make is rushing in. Prior to investing, you must evaluate the portfolio to understand its true commercial value and potential, and also uncover any risks involved in the purchase. When you work with Cairn, we carry out a review of the cost/benefit opportunities against the investment profile to make sure you’re making the right financial decision. 2. Are the properties tenanted? Buying a portfolio with tenants in situ means you can start making rental income without skipping a beat. It also saves you from the hassle (and expense) of having to market several properties at once, vetting and placing new tenants. Here at Cairn, we specialise in the sale of tenanted properties, so we know how to handle the ins and outs of this process, keeping everyone happy and informed. 3. What developments are planned nearby? Another key consideration when purchasing a property portfolio is to understand the wider landscape in and around your investment. Will new developments (housing, bars, restaurants, schools, transport links, etc.) affect the value of your property in the short and long term? On the one hand, more amenities could make your new portfolio more desirable to potential tenants. However, new housing popping up right next door introduces more competition and could make it difficult to place and retain tenants in the future. In short, make sure you have all the facts before pushing ahead. 4. Do you require HMO licenses? Finally, will your new portfolio allow you to rent one property to more than 3 unrelated people? If so, you’ll need an HMO (House of Multiple Occupation) licence. HMOs are an increasingly attractive property investment idea, boosting yields and spreading risk across multiple tenants. We offer a number of HMO development services, helping you assess your properties for compliance with HMO regulations. Find Portfolios for Sale with Cairn Our property investment services are second-to-none. We can help you assess your objectives for any property investment or development, taking budget, yield, and capital growth expectation into consideration. And once you’ve secured your new portfolio, we’re on hand with a range of property management services to ensure your properties are compliant and maintained to the highest standards. Get in touch to learn more.
Hints & Tips, Glasgow, 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.
Hints & Tips, Buy To Let, Edinburgh, 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.
Hints & Tips, Edinburgh, 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.
Hints & Tips, Edinburgh, 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.
Hints & Tips, Landlords, News
COVID 19 LOAN SCHEME
COVID 19 LOAN SCHEME A new loan scheme has been made available this week for some landlords whose tenancies have been affected by COVID-19. Private Rent Sector Landlord COVID-19 Loan Scheme Last month, the Scottish Government announced it would provide an interest-free loan to landlords who have suffered a loss of rental income as […]
