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Student Accommodation, Buy To Let, Hints & Tips, HMO Properties, Landlords, 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.
Student Accommodation, Glasgow, HMO Properties
Glasgow HMO Properties: What Do Students Need to Know?
Glasgow HMO Properties: What Do Students Need to Know? Are you a student thinking of renting a Glasgow HMO property during term-time? Make sure you know the answers to these frequently asked questions. 1. What is an HMO? An HMO (House in Multiple Occupation) is a residential property where three or more unrelated people rent and share facilities (such as a toilet, bathroom, and kitchen). It’s also known as a “house share”. HMO properties are subject to strict licensing conditions. However, there are a few exceptions where an HMO licence isn’t required. For example, if you live with your landlord, they don’t count as one of the unrelated people. Similarly, by law, a landlord does not require a licence if 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”. 2. What are the licensing conditions? All HMO properties need to be licensed with the local council before they can be rented out. The council will typically inspect properties before issuing a licence. The licence means your landlord is 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. A certified HMO property must have an HMO licence prominently displayed. If you can’t see one, ask the landlord to share a copy. 3. What are the risks of unlicensed Glasgow HMO properties? Unlicensed house share properties can sometimes be cheaper and therefore more attractive to students on a budget. However, the risks far outweigh the benefits. Not only are they illegal, but if your landlord is unwilling to licence the property correctly, where else might they be cutting corners? And will they respect your rights as a tenant? 4. How do I know if the property is licensed and certified safe? If you’re unsure that the property you’re looking at is licensed (and your landlord is evasive and won’t show you a copy of an up-to-date licence), don’t sign anything until you’ve checked for yourself. To do this, contact the Glasgow City Council Private Landlord Unit via email (email@example.com) or by phone (0300 343 0414). They’ll be able to tell you if an application for a licence has been lodged or refused. Rent a Glasgow HMO with Cairn We’ve been managing fully licensed Glasgow HMO properties for years. When you rent with Cairn, you’re in good hands. We conduct thorough tenant move-in training, taking you through health & safety regulations, smoke alarm testing, and how to use appliances. And we also carry out quarterly inspections to ensure the property remains safe, clean and comfortable, as per the HMO conditions. Are you interested in renting an HMO property in Glasgow? Get in touch to learn more.
Student Accommodation, Edinburgh, HMO Properties, Landlords, Tenants
Renting an HMO in Edinburgh: Advice for Landlords & Students
Renting an HMO in Edinburgh: Advice for Landlords & Students Interested in renting an HMO in Edinburgh? Read on for some important advice. An HMO (House in Multiple Occupation) is any residential property rented by at least 3 people who aren’t from the same household (for example, a family). In doing so, they also share key communal facilities such as a toilet, bathroom, and kitchen. Renting an HMO in Edinburgh comes with plenty of benefits for both landlords and students: Firstly, for landlords, HMOs can provide higher rental yields than one or two-bedroom properties. They also help to spread risk across multiple occupants. Meanwhile, for students, they offer a chance to comfortably live with 3, 4, 5 or more friends. This means you can easily split bills and other living expenses. However, if you’re interested in renting out (or living in) an HMO, there are a few important things you need to keep in mind. HMO in Edinburgh: What Do Landlords Need to Know? As a landlord of an HMO, it’s your responsibility to get an HMO licence and to manage and maintain the property to a high standard. This means you need to: Be a registered landlord Keep important certificates up-to-date Undertake quarterly inspections and fire training Fit smoke alarms on every level Keep fire escapes clear from obstruction Ensure upkeep of communal areas Make sure waste disposal facilities are in place Are you a landlord interested in letting an HMO property? Here at Cairn, we offer a variety of HMO Development and HMO Property Management services. Get in touch to find out more. What About Students Renting an HMO? As a student living in a house share, it’s helpful to understand the rules around HMO properties. Presuming your property has an HMO licence (you can check by emailing firstname.lastname@example.org), your landlord is legally-bound to meet certain safety and cleanliness standards. If you feel as though these standards have slipped, and your landlord isn’t responding, you can flag this to Edinburgh city council. They’re responsible for enforcing these standards and can compel your landlord to take the appropriate action. Are you a student interested in renting an HMO in Edinburgh? We manage several licenced HMO properties in the city. Get in touch to learn more.
Student Accommodation, Buy To Let, Glasgow, Investment
Buy-to-Let in Glasgow: 4 Reasons Why You Should Do It
Buy-to-Let in Glasgow: 4 Reasons Why You Should Do It Learn why buy-to-let in Glasgow is a no-brainer in this post from Cairn Estate & Letting Agency. Once an industrial powerhouse, home to factories and shipyards, Glasgow is today every inch a modern European city. Full of culture, diversity, and a growing population, it’s little wonder that Dear Green Place has resonated with property investors. And in this brief post, we share 4 reasons why you might buy-to-let in Glasgow. Why Buy-to-Let in Glasgow? 1. A thriving economy With the largest economy in Scotland (and the 4th largest in the UK), Glasgow is home to a range of established and emerging sectors. The likes of health, education, retail, and finance — alongside digital, biotech, and low carbon industries — are attracting talent from far and wide, providing ample opportunities and competitive salaries. And with all these talented, well-paid individuals needing places to live, demand for properties is massive (more on that below). 2. A vibrant student population If you’re interested in investing in student accommodation, then look no further than Glasgow. With three top universities and eleven colleges in and around the city, it’s home to around 185,000 students. That makes it, by far, the biggest student city in Scotland, and the second-biggest in the UK. What’s more, Glasgow was recently named as the best UK city for millennials owing to an abundance of graduate job prospects, entertainment options, and overall quality of life. 3. Vital transport links Glasgow is incredibly easy to navigate, with plenty of reliable transport links dotted around the city. But the best part is, it looks like there could be significant improvements in the pipeline. For instance, the Subway (the third-oldest underground system in the world) is often the subject of audacious expansion plans, while a modern tram or light rail network has also been proposed. If these plans become reality, it could result in certain areas of the city becoming more desirable to commuters. And this could mean a greater return on investment for investors. This phenomenon isn’t anything new in Glasgow, either. As it stands, the proximity to a Subway station can actually push up rents due to demand. 4. Huge rental demand Finally, speaking of demand, Glasgow (alongside Edinburgh) is one of the best cities in the UK in which to purchase a buy-to-let property. According to these stats, the average rent in the city is currently £840 PCM, while the average time-to-let for a one-bedroom property is around 27 days. So, if you do invest in buy-to-let in Glasgow, you’ll enjoy terrific yields — and it’s unlikely that it’ll sit empty for very long! Cairn: Buy-to-Let Glasgow Experts Interested in exploring buy-to-let property in Glasgow? Get in touch with our property investment experts to learn more about our approach and services.
Student Accommodation, Buy To Let, Edinburgh, HMO Properties, Investment
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.
Student Accommodation, Hints & Tips, Landlords, Tenants
How to manage your inventory effectively
You will probably be faced with a lot of different documentation relating to your rental property- some of which you may be more familiar with than others. Included with your “move in pack” will be your property’s inventory. An inventory is a written document which provides an accurate description of the contents and condition of […]
Student Accommodation, Hints & Tips
Essentials you need for your student flat
Chances are you probably feel like you have spent the majority of your student career going out, attending minimal classes and packing and repacking to go from halls to a flat to another new flat the following academic year. We are here to help cut the amount of time spent running around the supermarket […]
Student Accommodation, HMO Properties
Student HMO Lets
Student HMO Lets What is an HMO property? Why do students need them? What do I have to do? These are some of the many questions that are being asked daily so we have created a quick fix to answer all of these questions and help to iron out all of your burning questions. […]
Student Accommodation, Buy To Let, HMO Properties, Investment, Letting
Become A Parent Investor With Cairn
Become A Parent Investor With Cairn For many, when their children go to university or college there are only a few options open to them; continue to have them live at home, have them register for a space in the student halls, or look for a private rental property they can stay in while in […]