What are we up to?
Despite the best of intentions this is our first newsletter of 2015. Don’t worry, we have not been twiddling our thumbs throughout the winter months, we have been improving our systems and processes behind the scenes:
- The new look website is now live and we are very pleased with the feedback we have received so far. Please take a look if you haven’t already done so and let us know your thoughts – www.athomeinedinburgh.co.uk
- We have new property management and accounts software in place that will help us focus more effectively on doing our day job and provide a better service to our customers
Susanna Walker has joined our team on a part time basis. With a wealth of experience in all aspects of lettings, we are very lucky to have her on board.
We are now advertising for another full time Property Manager position. Please contact us if you know of anyone that would like to join a fast moving business with plenty of opportunity for personal development.
Edinburgh Property Market
There has been a lot of media coverage of rent increases in Edinburgh and across Scotland over the last 12 months. For the first quarter of 2015 year on year growth for long term rents in Edinburgh is 7.7%. Properties of all sizes are recording growth and the average time to let is falling.
The rent increases come alongside increases in property prices. The buy-to-let market is very hot at present and the ‘offers over’ system that prevails in Scotland is pricing people out of the market.
If you would like any advice we are here to help. If you or anyone you know is considering a buy-to-let then please don’t hesitate to get in touch or to pass on our details.
Government Consultation on Changes to Private Rental Sector
The Scottish Government is currently consulting on the biggest changes to the tenancy system in Scotland in over 25 years.
The first consultation closed at the end of December and an analysis of the responses can be found at – http://www.gov.scot/Publications/2015/03/1968/0
The Government has now launched a second consultation which revises and gives more detail on the proposals. We are disappointed that the Government has made it clear in the second consultation that they will be removing the “no fault” ground for possession.
Under a short assured tenancy, landlords can currently reclaim their property simply because the fixed term has ended. This is called the ‘no-fault’ ground for repossession. This ground will be removed and it is proposed there will be 8 grounds for possession (some are new grounds, some already exist):
1. Landlord wants to sell the home
2. Mortgage lender wants to sell the home
3. Landlord wants to move into the home
5. Change to the use of the home
6. Tenant failed to pay three full months’ rent
7. Tenant is anti-social
8. Tenant has otherwise breached the tenancy agreement
At Home In Edinburgh continues to work with the Scottish Association of Landlords to make sure landlords interests are represented and we have formally responded to the second consultation. Anyone wishing to respond can do so before the 10th May at – http://www.gov.scot/Publications/2015/03/6142/0
Landlord Referral Scheme
If you know anyone who is considering renting out their property then please put them in touch. We will be happy to offer them advice on any aspect of lettings with no obligation. Should we subsequently let their property on any of our full management packages then we will happily offer you £50 as a wee thank you!
As we strive to offer the best service possible to our landlords and tenants we would like to ask you to provide us with your feedback. If you have anything to say we would love to hear from you. Thank you for your continued support!