| If you currently own or intend to purchase residential property for rental in Scotland, you should consider engaging me lettings property management service, our service covers Glasgow, Stirling, Falkirk, Lothian, You'll find it both professional and cost-effective.
As we are specialists in letting, we know how to manage property for optimum performance, whilst ensuring smooth running tenancies, and compliance with the various landlord/tenant laws. Maximise the return on your investment - contact us now.
- Visiting you at your property, and providing a Free Rental Valuation and any advice which you may require about letting your property.
- Advising you on compliance with the various safety regulations.
- Locating suitable tenants. Your property will be advertised on a wide range of property websites 30+ however we have excellent contacts with various company and other establishments who usually have tenants waiting.
- Accompanying tenant applicants to view the property.
- Obtaining and evaluating references and credit checks.
- Preparing tenancy agreement & AT5 and all other paperwork required.
- Collecting a tenancy deposit which will be treated in accordance with current legislation.
- Preparing an inventory and schedule of condition.
- Checking the tenant into the property and agreeing the inventory and out.
- Supervising the transfer of gas, electricity and council tax accounts into the tenant's name.
- Receiving rental payments monthly in advance, and paying you SAME DAY, together with a detailed statement.
- If required paying regular outgoings for you from rental payments. eg insurance, boiler cover.
- Inspecting the property between month 2-3 and 4-5 and reporting any problems to you.
- Arranging any necessary repairs or maintenance, first liaising with you in the case of larger works.
- Keeping in touch with the tenant on a routine basis, and arranging renewals of the agreement as necessary.
- Re-advertising the property minimum 2 months before the current tenant checks out, reletting and continuing the process with the minimum void period to ensure that you receive the optimum return from your property.
me lettings property advertising network:
Before a property can be let, there are several matters which the owner will need to deal with to ensure that the tenancy runs smoothly, and also that he/she complies with the law. We provide summarised information below. If you require further advice or assistance with any matter, please do not hesitate to contact us:
Preparing the Property
We have found that a good relationship with Tenants is the key to a smooth-running tenancy. As Property Managers this relationship is our job, but it is important that the Tenants should feel comfortable in their temporary home, and that they are receiving value for their money. It follows therefore that a well presented and maintained property in a good decorative order will go towards this, whilst also achieving a higher rental figure. Tenants are also more inclined to treat such a property with greater respect.
Before advertising can begin on any rental property the landlord must register as a landlord via there local council or online at landlordregistrationscotland.gov.uk
General Condition
Electrical, gas plumbing, waste, central heating and hot water systems must be safe, sound and in good working order. Repairs and maintenance are at the Landlords expense unless misuse can be established. Interior decorations should be in good condition and preferably plain, light and neutral.
Furnishings
Your property can be let fully furnished, part furnished or unfurnished. Which of these is appropriate will depend on the type of property and local market conditions. We will be pleased to give you advice on whether to furnish or not and to what level. As a minimum you will need to provide decent quality carpets, curtains and light fittings. Remember that there will be wear and tear on the property and any items provided.
Personal items, ornaments etc.
Personal possessions, ornaments, pictures, books etc. should be removed from the premises, especially those of real or sentimental value. Some items may be boxed, sealed and stored in the loft at the owner's risk. All cupboards and shelf space should be left clear for the Tenant's own use.
Gardens
Gardens should be left neat, tidy and rubbish free, with any lawns cut. Tenants are required to maintain the gardens to a reasonable standard, provided they are left the necessary tools. However, few Tenants are experienced gardeners, and if you value your garden, or if it is particularly large, you may wish us to arrange visits by our regular gardener.
Cleaning
At the commencement of the tenancy the property must be in a thoroughly clean condition, and at the end of each tenancy it is the Tenants' responsibility to leave the property in a similar condition. Where they fail to do so, cleaning will be arranged at their expense.
Information for the Tenant
It is helpful if you leave information for the Tenant, e.g. on operating the central heating and hot water system, washing machine and alarm system, and the day refuse is collected etc.
Keys
You should provide one set of keys for each Tenant. Where we will be managing we will arrange to have duplicates cut as required.
Other Considerations
Mortgage
If your property is mortgaged, you should obtain your mortgagee's written consent to the letting. They may require additional clauses in the tenancy agreement of which you must inform us.
Leaseholds
If you are a leaseholder, you should check the terms of your lease, and obtain any necessary written consent before letting.
Insurance
You should ensure that you are suitably covered for letting under both your buildings and contents insurance. Failure to inform your insurers may invalidate your policies. We can provide you with information on Landlords Legal Protection, Rent Guarantee Cover and Landlords Contents and Buildings Insurance if required.
Bills and regular outgoings
We recommend that you arrange for regular outgoings e.g. service charges, maintenance contracts etc. to be paid by standing order or direct debit. However where we are managing the property, by prior written agreement we may make payment of certain bills on your behalf, provided such bills are received in your name at our office, and that sufficient funds are held to your credit.
Council tax and utility accounts
We will arrange for the transfer of Council Tax and utility accounts to the Tenant. Meter readings will be taken, allowing your closing gas and electricity accounts to be drawn up. All these matters we will handle for you, however British Telecom will require instructions directly from both the Landlord and the Tenant.
Income tax
When resident in the UK, it is entirely the Landlords responsibility to inform the Revenue & Customs of rental income received, and to pay any tax due. Where the Landlord is resident outside the UK during a tenancy, he will require an exemption certificate from the Revenue & Customs before he can receive rental balances without deduction of tax. Where we are managing the property we will provide advice and assistance on applying for such exemption.
The inventory
It is most important that an inventory of contents and schedule of condition be prepared, in order to avoid misunderstanding or dispute at the end of a tenancy. Without such safeguards, it will be impossible for the Landlord to prove any loss, damage, or significant deterioration of the property or contents. In order to provide a complete Service, we will if required arrange for a member of staff to prepare an inventory and schedule of condition, at the cost quoted in our Agency Agreement.
Health and Safety, and other Legal Requirements
The following requirements are the responsibility of the owner (Landlord). Where we are managing the property they are also our responsibility. Therefore where we are managing we will ensure compliance, any costs of which will be the responsibility of the landlord.
Energy Performance Certificate (EPC)
From January 4, 2009, all EU member states have an obligation under the Energy Performance of Buildings Directive (EPBD) to promote improvement in the energy performance of new and existing buildings.
This means there will be a requirement to provide an Energy Performance Certificate (EPC) to any prospective buyer or tenant of a property when it is either sold or rented out.
http://www.scotland.gov.uk/Topics/Built-Environment/Housing/BuyingSelling/Home-Report/epcs
Smoke Alarms
The 1991 Building Regulations require that all properties built since June 1992 must be fitted with mains operated interlinked smoke detectors/alarms on each floor. Such regulations regarding older properties do not exist but we strongly recommend that smoke alarms are fitted in all let properties and are regularly checked to ensure they are in full working order.
Furniture Safety
The Furniture & Furnishings (Fire) (Safety) (Amendment) Regulations 1993
It is now an offence to install any furniture in let properties that do not comply with these regulations.
The regulations apply to
- Headboards
- Mattresses
- Pillows and scatter cushions
- Stretch or loose furniture covers
- Children’s furniture
- Garden furniture suitable for use in the dwelling
- Sofa-beds
- Futons and any other item with similar type fillings of which must carry the appropriate labels of compliance.
Upholstered furniture must have fire resistant filling material and must pass a cigarette resistance test and permanent covers must pass a match resistant test.
Any furniture added to the property since 1st March 1993 must comply with these requirements whether new or second hand.
The regulations do not apply to
- Antique furniture made before 1st January 1950
- Bedclothes including duvets & pillowcases and loose covers for mattresses
- Curtains
- Carpets
- Sleeping bags
- Cushion covers
The recommended way to check whether furniture complies is to look for labels attached to the furniture. If there are no labels, you must try and establish when and where the furniture was bought and contact the retailer or manufacturer to check whether the item complies. If you are unable to establish where the furniture came from or its compliance, it must be replaced. It is illegal to let a property with furniture which does not comply with these regulations.
We are able to suggest a variety of insurance policies for both landlords and tenants, including the following -
Buildings Insurance
Covers the rebuilding of your property following loss or damage caused by fire, aircraft, smoke, malicious persons (including tenants), accidental damage to bathroom fixtures & fittings and glass, lightning, explosion, collision or impact, falling trees and earthquake, theft (by forcible means), subsidence, riot/civil commotion, storm, flood, escape of water or oil leakage and loss of rent up to 20% of the sum insured following damage. Also includes property owner's liability.
Contents Insurance
Cover can be on a new for old basis for loss or damage caused by fire, aircraft, smoke, malicious persons, lightning, explosion, impact, theft (by forcible means), subsidence, riot/civil commotion, storm, flood, escape of water or oil leakage, breakage of mirrors or glass in furniture, replacement of locks following theft of keys, and loss of rent up to a given percentag of the sum insured following damage. This can also includes landlord's liability.
Legal Expenses
You may be unable to collect the rent, your tenants may damage or remove your personal possessions, or they may cause a nuisance to your neighbours. All these problems can be resolved by legal action but this is expensive. You can get cover to include all of your legal expenses up to a set figure and even with no policy excess to pay.
Rent guarantee
This policy provides total peace of mind for landlords. Cover includes the rent you are expecting from your property until vacant possession is obtained for up to 12 months (excluding the first month's lost rent). Additionally, cover includes 50% of the rent for up to 3 month's after possession is obtained whilst a new tenant is found. All related legal expenses are included.
Pre-purchase guidance
Our considerable local experience in this field, together with our independent status, means that we are able to provide practical and impartial advice on such matters as the type of property and the area that you should consider, and also on a choice of lenders to approach to suit your circumstances. Pre-purchase guidance is available free of charge.
Post-purchase refurbishment
From minor works to complete refurbishment, we are able to assist in the process of preparing the property for letting in a variety of ways, including the arranging and supervising of redecoration and repairs, carpeting, curtaining and furnishings. Our relationship with local suppliers and tradespeople ensures competitive pricing and quality workmanship.
We hope that you will find the above information useful. If there are any aspects of which you are unsure, please ask us. We look forward to being of assistance to you in the letting and management of your property.
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