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Legislation, AirBNB, Edinburgh
cAIRnBNB
Click here to visit CairnBNB.com and explore a selection of the beautiful properties that we manage! 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/.
Legislation
Legislation Update
LEGISLATION UPDATE BLOG ( Date: 31.3.22 ) The Scottish Government has announced that from the 31st March 2022, landlords will no longer need to serve 6 months notice to bring a tenancy to an end. The 6 month notice rule was introduced by the Scottish Government as part of a number of emergency laws that were introduced into the Scottish Private Rented Sector in 2020 as a response designed to help make the rental sector more stable during the upheaval that the COVID pandemic caused on the market. The Scottish Government had explored making the 6 month notice rule permanent as part of their agenda to create a New Deal for Tenants, but the evidence shows that this particular rule change has not been good for the sector. The Scottish Association of Landlords presented evidence to the Government showing that, due to the extended notice periods, some tenants were accruing rent arrears that they remain liable for and could never afford to repay resulting in a negative situation for all concerned. The rolling back of notice periods to the pre-pandemic rules (where landlords serve either 28 days or 84 days’ notice on tenants depending on the circumstances) is very good news for the sector as there is a definite shortage of new landlords and rental properties which is having an extremely negative impact on the number of available properties in the market. This in turn is heating the market and driving asking rents up as more and more prospective tenants compete for fewer properties. The government also announced this week that the temporary downgrading of compulsory grounds for repossession to discretionary, which was part of the same emergency laws introduced in 2020, will continue until September 2022 and will thereafter be reviewed again. This shouldn’t affect most cases for repossession as long as landlords can demonstrate a strong enough case for taking back their properties under one of the grounds for doing so. The Scottish Government is currently considering the simple measure of restricting rent levels on the market, but the evidence shows that a change like this would have a negative impact on the number of landlords and properties in the market, exacerbating many of the issues the government are trying to address. This highlights the importance for landlords to have qualified and knowledgeable agents managing their properties to ensure that they are receiving the most up to date and accurate advice relating to eviction actions and general management of the property. If you need any help with evictions, tribunal applications or management of your property, please do not hesitate to contact Cairn and one of our qualified and experienced property managers will be on hand to help with all of your queries. For Glasgow 0141 270 7878, Edinburgh 0131 346 4646 or Portobello 0131 622 6215
Legislation, Edinburgh, Landlords, Services, Tenants
Switching Letting Agents in Edinburgh: Advice for Landlords
Switching Letting Agents in Edinburgh: Advice for Landlords Are you a property landlord thinking of switching letting agents in Edinburgh? Read on for some top tips & advice from Cairn. Expensive maintenance charges. Substandard repairs. Poor communication. Late rent payments. And every time you call, it’s someone different on the other end of the line — and they don’t know you or your property. As a landlord, the last thing you need is a letting agent mismanaging your property. If the above sounds familiar, it could be time for a change. And despite some common misconceptions, switching letting agents is easier than you think. Moving Letting Agents in Edinburgh: Common Misconceptions Many landlords see changing letting agents as a hassle they can live without, so they stay loyal to an agency, even if they’re not meeting expectations. Others think they need to wait until the property is empty before switching, while some simply don’t see the point in moving. After all, a letting agent is a letting agent, right? Wrong. Let’s deal with these misconceptions, one by one: 1. “I have to wait until the end of the tenancy before changing agents.” This isn’t true. The Tenancy Agreement is between you (the landlord) and your tenant. The agency has been hired to manage your property — switching agents won’t impact the agreement. In fact, it’s often easier to change agents with a tenant in place, as it means the new agent can take over the management of the property without the additional need to advertise and place a new tenant. 2. “Every letting agent in the Capital is the same; there’s no point in switching.” Most letting agents provide similar services. However, the way in which these services are delivered can vary from one agent to the next. Think of it like having a favourite coffee shop, even though you can get a coffee almost anywhere. There’s more to it than simply getting what you asked for. Likewise, the very best letting agents in both Glasgow & Edinburgh are doing more than making sure rent is collected on time. They’re fully regulated, understand the legislation involved, prioritise quality customer service, and offer professional and reliable communication at all times. 3. “Moving to a new letting agent is more fuss than it’s worth.” Switching from an underperforming agent to one who values a strong working relationship and cares for your property and its tenants is absolutely worth the fuss — if it can even be considered “fuss” in the first place! In reality, there’s little you need to do in order to switch. Beyond giving your current agent written notice that you plan to leave, your new agent will handle everything on your behalf. Case in point… Switching Letting Agents in Edinburgh (It’s Easier Than You Think) At Cairn, we make switching simple. From liaising with your current agent to communicating with your tenant(s), we take care of every last detail, including: The acquisition of a detailed handover from your current agent. This will include information related to rent arrears, payment plans, planned maintenance, and outstanding tenant requests; The transfer and recording of the latest safety certificates; The transfer of all keys, up-to-date inventory, and the current lease agreement (if applicable); And the provision of a new point of contact and updated bank details for rent payments to your tenant(s). You are appointed a property manager so you are dealing with one point of contact. Our qualified and experienced property managers conduct audits on documents sent to us to ensure that all legal responsibilities are met and the landlords interests are protected. Cairn have branches in Portobello ( 0131 622 6215 ) & Edinburgh City ( 0131 346 4646 ). If you’re interested in changing letting agents in Edinburgh, visit our Getting Started page or contact our friendly team for more information.
Legislation, Landlords, Tenants
Legislation affecting BOTH Tenant and Landlord
Legislation affecting BOTH Tenant and Landlord It’s no surprise that the rental market has undergone yet MORE changes to legislation from 2017-2019 than ever before. If you don’t already know, The Private Residential Tenancy came into force on the 1st December 2017 and has brought about some big changes. The tenancy system establishes the […]
Legislation, Property Finance
Investors Face Higher Tax Rate for Second Homes and Buy-to-Let Properties in Scotland
Investors Face Higher Tax Rate for Second Homes and Buy-to-Let Properties in Scotland New LBTT Higher Tax Rate Applies From 1st April 2016 Investors in Scottish property are preparing to face tax rate increases for purchases of second homes and buy-to-lets. From April 1 this year, a higher rate of Land and Buildings Transaction […]
Legislation, Landlords
Immigration checks are coming – What do you need to know?
Immigration checks are coming – What do you need to know? Many landlords carry out checks as a matter of course but from February, in England, Right to Rent checks become a legal requirement. For most, background checks on new tenants are an expected part of the moving in process, but these are about to become law. […]
Legislation
New legislation: Landlords required to install smoke and carbon monoxide alarms
New legislation: Landlords required to install smoke and carbon monoxide alarms Housing Minister Brandon Lewis announced new measures in March to protect tenants. Regulations for landlords in England were to be brought into line with building regulations for new builds in the UK, and will require the installation of working smoke and carbon monoxide alarms […]
Legislation
Changes to Scottish Repairing Standard statutory regulations
Changes to Scottish Repairing Standard statutory regulations Over the next two years, beginning on December 1st this year, new mandatory electrical checks come into force for all privately rented properties. New regulations from the Scottish Government mean that all electrical items in a rented property must be either Electrical Installation Condition Report or Portable Appliance […]
Legislation, Investment
How to invest in property for your children, and pay no Capital Gains Tax
How to invest in property for your children, and pay no Capital Gains Tax If you are interested in buying property for your child, but are concerned about the expense, there are ways to reduce costs. There is an opportunity to invest your money through a trust, rather than buying privately, which means you won’t be […]
