Long Term Landlords

What is a long term let?

A let commencing after the 1st December 2017, where the property is the tenants only or main residence, will be a Private Residential Tenancy following the introduction of the Private Housing (Tenancies) (Scotland) Act 2016.

The Private Residential Tenancy (PRT) replaces the Short Assured Tenancy for all new tenancies (Short Assured Tenancies already in place on this date will continue to run until they are ended by either party).

A PRT has no fixed term period, only a start date and will run until either a landlord or tenant gives notice.

A tenant may give 28 days’ notice at any time should they wish to end a PRT. A landlord can end a PRT only if one or more 18 grounds for repossession apply and the notice period will depend on the length of time the tenant has lived in the property and if they have breached a term of their tenancy agreement.

Why choose long term letting?

  • Usually provides financial security over a longer term
  • Minimal vacant periods due to high demand
  • Flexibility of furnishings
  • Long term investment

Running cost comparisons

Rents for long term lets are lower than the equivalent short term rents but landlords are not responsible for the day-to-day running costs.

Short Term/Festival Long Term
Council tax Landlord pays Tenant pays
Utilities Landlord pays Tenant pays
Internet Landlord pays Tenant pays
Changeovers Landlord pays n/a
Maintenance Landlord pays Landlord pays
Insurance Holiday let cover required Landlord cover required

Our Long Term Services

Full Management

Our most popular service is full management. This service is fully comprehensive & landlords can relax in the knowledge that we are managing every aspect of the letting cycle:

  • advertising the property
  • accompanied viewings
  • securing tenants
  • rigorous referencing
  • preparing lease & legal documentation
  • providing a written & photographic inventory
  • liaising with utility providers & Edinburgh council
  • handling keys
  • organising regular inspections
  • arranging safety certificates, cleaning & maintenance
  • collecting and paying rents and handling deposits (through the tenant deposit scheme)

For our full management service, we charge an initial one-off set-up fee of £150 Incl. VAT to cover the cost of professional photographs and the inventory and then 12% Incl. VAT commission on any rental income.

Let-Only Service

We offer a let-only service to long term landlords who want to manage the let period themselves. This is charged as a one-off fee of £600 Incl. VAT, which includes:

  • advertising your property
  • accompanied viewings
  • securing tenants
  • rigorous referencing
  • preparing lease & legal documentation
  • collecting the first month’s rent and deposit

Landlord FAQs

What rental price can your property achieve?

By visiting your property we can provide a realistic no-obligation rental valuation. Our valuations are based on our local knowledge and take into account current market conditions. We also have access to databases of current and historical rental prices achieved for similar properties in your area.

During our visit we can also provide advice on preparing your property for the rental market including the necessary safety requirements.

If you are in the process of purchasing a buy to let property then we can provide you with a free buy to let rental assessment. Simply email us a link to the property advert and we will send you a report

How do we market your property?

Your property will be promoted on our modern, user-friendly, informative website. The website enables clients to make an enquiry 24 hours a day, 7 days a week.

Our website is an invaluable tool when trying to sell your property to prospective clients. The internet is the biggest source of enquiries for all types of letting so we have invested in maintaining a good web presence and search engine optimisation.

We have agreements with a number of partner websites where we market your property alongside our own website. Depending on the availability of your property these include Citylets, Gumtree, Lettingweb & Zoopla. If desired we will also erect a To Let board.

All our viewings are accompanied by an At Home In Edinburgh representative and we provide regular feedback on progress.

How should you prepare your property?

It is essential that a property is prepared to a high standard and is cleaned to a professional standard before the start of any tenancy. Well maintained properties attract better tenants, achieve a higher rental price and have fewer vacant periods.

The condition and cleanliness of the property and its contents will be recorded in a written and photographic inventory. This will be referred to by the tenant deposit scheme if there are any disputes at the end of the tenancy.

Who are our tenants?

Through rigorous referencing we find the right tenants to look after your property. We always obtain as much information as possible about potential tenants and only agree to a let when we are comfortable with the match. Your property is our priority so we do not operate on a first-come, first-served basis.

Long term tenants can come from a number of categories – young professionals, students, couples and families. We will agree the target market for your property with you in advance and discuss applications with you before securing tenants.

We provide a free viewing service for potential tenants and offer appointments in the evening and at weekends.

Do we take a deposit?

We take a substantial deposit from tenants to protect your investment.

Due to legislation that came into force in 2012, the deposit is transferred into and held in a government approved tenant deposit scheme. We undertake a detailed written and photographic inventory which translates to an excellent success rate on our deposit claims.

When will you get paid?

Rents are paid to you at the start of each month and you will receive a detailed electronic statement.

Rents are paid by BACS straight into your account unless otherwise agreed.

Who do we use for repairs?

We aim to address maintenance issues as soon as they arise to ensure your property is maintained to the best possible standard.

Our team of trusted, competitively priced tradesmen & cleaning professionals have worked with us for many years

Tenants are provided with a 24/7 emergency contact number in case any issues arise.

How often do we inspect our properties?

We aim to inspect our properties every 3 months. This allows us to capture and address issues early, before they become a greater concern.

Do you need to tell your insurance company?

A landlord is responsible for ensuring that their property and its contents are covered by adequate insurance cover. Tenants are advised to have their own belongings insured separately.

If you need more information regarding landlord insurance, please contact us.

What regulations do I need to adhere to?

We can advise you on the various statutory requirements you must comply with as a landlord. Below is a summary of the current regulations:

Landlord Registration (valid for 3 years)

Your registration number must be stated on the property advertisement. You can register online at www.landlordregistrationscotland.gov.uk or contact Edinburgh council on 0131 469 5293. As part of the registration process you will need At Home In Edinburgh’s letting agent registration number which is LARN1902079.

Energy Performance Certificate (valid for 10 years)

The EPC rating of the property must be stated in the property advertisement. If you have recently purchased your property you should have an EPC as part of the Home Report. An EPC typically costs around £78 Incl. VAT.

Housing in Multiple Occupation

If you have a property that is likely to be occupied by more than 2 unrelated people you will need a HMO licence to stipulate the number of people that can safely rent the property. We can advise on and manage the HMO licensing process.

Gas Safety Certificate (valid for 12 months)

If your property has any gas appliances a landlord Gas Safety Certificate is legally required to prove that they are in safe condition. The annual check typically costs around £66 Incl. VAT.

Portable Appliance Test (valid for 12 months)

A PAT checks all the landlords portable electrical appliances in the property are safe to use (not required for tenants appliances). It typically costs £50 Incl. VAT.

Legionella Risk Assessment (needs to reviewed regularly)

Health and safety regulation requires that landlords carry out risk assessments for the Legionella bacteria which cause Legionnaires disease and thereafter maintain control measures to minimise the risk. Typically the cost is around £66 Incl. VAT.

Electrical Installation Condition Report (valid for 5 years)

A registered electrician needs to carry out an inspection of the:

  • Installations for the supply of electricity
  • Electrical fittings including the consumer unit (or fusebox), switches, sockets, light fittings, etc.
  • Fixed electrical equipment including heating equipment, boilers, smoke alarms etc.

Anything that fails to pass the electrical safety inspection must be replaced or repaired immediately.

An EICR needs to be carried out every 5 years and the cost of the report is around £150 Incl. VAT.

Smoke detectors and fire blankets

Guidance states that there should be at least:

  • One functioning smoke alarm in the principle room which is frequently used by the occupants for general daytime living purposes
  • One functioning smoke alarm in every circulation space, such as hallways and landings
  • One heat alarm in every kitchen
  • All alarms need to be mains powered
  • All alarms need to be interlinked

The number and position of the alarms will depend on the size and layout of your property. There should be at least one alarm on each floor. We can arrange quotes for any work needed.

We recommend that a fire blanket is also left in the property.

CO detectors

Landlords must provide a long-life battery or mains powered detector in any space that contains a carbon-based fuel appliance (excluding cooking appliances) e.g.

  • Gas/oil boiler
  • Gas/oil fire
  • Wood burning stove or open coal fire

There should also be one in any bedroom or living room which is bypassed by a flue.

Non-resident landlords

If you live outside the UK for more than 6 months of the year then it is in your interest to register as a non-resident landlord with HMRC by completing a NRL1 form. If you do not register we are obliged to deduct 20% tax from your rent and pass this onto HMRC. This will usually be considerably more than you would otherwise need to pay.

You can find the appropriate form at www.hmrc.gov.uk/cnr/nr_landlords.htm. Our agency reference is 904/NA 052582.