As a landlord, there are a number of bodies and groups you can become a member of or turn to for advice and support. But who are these bodies and what do they offer?
Scottish Association of Landlords (SAL)
Supporting and representing the interests of all landlords and letting agents throughout Scotland, the SAL campaigns for the recognition of landlords as an actual profession.
Working from home is becoming an increasingly popular phenomenon as people all over the UK choose to shun the daily commute.
Overcrowded trains, high parking costs, traffic congestion and the stress often involved in travelling into work are all reasons why one in seven Britons opt to turn their home into an office.
Void periods are a landlord’s worst nightmare. These are the times when your property is unoccupied, therefore earning you no rental income, but you still have to cover the costs associated with being a landlord, such as mortgage repayments and general property maintenance.
If you’re thinking about entering the buy-to-let market or perhaps expanding your existing property portfolio, identifying the perfect investment will be the key to making sure it is money well spent.
While there are a myriad of things to consider and we would always recommend speaking to a local lettings expert first, here are three essential tips to get you thinking…
We’re often presented with lists and charts of the best and worst investment locations for property investors and while they always make for interesting reading, it’s sometimes difficult to decipher what criteria the ranking has been determined by.
Here at Letting Solutions we feel that one of the best ways to determine a truly profitable buy-to-let investment location is simply by looking in detail at the average yield.
A few weeks ago the Scottish Government launched a consultation period for its planned Code of Practice for Letting Agents.
The Code of Practice includes, amongst other things, a requirement for all letting agents to go through training before they can be added to a register.
In recent years the kitchen has regularly been voted as the most important room in a property. It has become the centrepiece of many homes. Thanks to the foodie revolution sweeping across Britain, aided and abetted by the boom in farmers’ markets/street food and the proliferation of cookery programmes on TV, people are spending more time in their kitchens than ever before.
As you start out as a landlord, you will hear the word yield used plenty. But what exactly does it mean? Using our experience as the first dedicated letting agency in West Lothian, we’ll do our best to explain it.
One of the most important considerations when it comes to rental property is how much income you can generate, even more so if you are relying on this income to pay the mortgage. By calculating your property yield you will be able to see whether the property you choose to purchase is a sound investment choice or not.
We haven’t used our blog to report on the Scottish rental market for a while now and as we enter the summer months – a traditionally busy period for landlords and letting agents – we thought now the perfect time to post an update.
After sifting through all the Private Rented Sector (PRS) reports published over the past few weeks, the headline figure we’ve picked out is that average monthly rents in Scotland peaked in May, reaching £544. This represents a monthly rise of 1.0%, according to a report from a Scottish letting agency chain.
For landlords, attracting and then retaining tenants is of crucial importance. After all, a property without tenants is any landlord’s worst nightmare.
To avoid those dreaded void periods, the landlord-tenant relationship needs to be friendly and resilient. Good tenants will look after the property like it’s their own, pay you their rent on time and have no unreasonable or excessive demands. They will, however, expect their landlord to be kind to them in return.