Market Analysis 1st Jun 2017
Buy to let in Scotland is booming according to the latest Scotland Buy to Let Index from Your Move. The Index reveals that the average Scottish rental price increased by 6% during the year to April. The average rent is £574 per month, with all regions of the country experiencing an increase. These figures illustrate the strength of the private rented sector in Scotland, with 14% of all households now calling the PRS home, compared with just 5% back in 1999.
Landlords Choose Letting Agents 1st Jun 2017
The number of landlords choosing to use a letting agent to manage their property has increased dramatically since the end of 2016.
Capital or Yield? 1st Jun 2017
Your buy to let property is there to make money for you, and as such should be run as a business. However it is very important from the outset to be clear on what you want from your asset, as there are 2 ways in which you can earn from property investment. Capital growth, or capital appreciation is the increase in the value of your property over time. Rental income is the rent paid to you monthly by the tenant. If you divide the annual rent into the purchase price of the property and multiply by 100, this gives you your yield or annual return.
Rental Property Costs 1st Jun 2017
Recent research by mortgage lender Kent Reliance reveals some of the costs UK landlords face in the upkeep of their rental property.
The HMO Market 1st Jun 2017
In previous newsletters I have discussed the forthcoming changes in 2018 to Scottish Private Residential Tenancies. This will impact the House in Multiple Occupation (HMO) market as lease agreements will be open-ended, allowing tenants to stay until they wish to leave (giving 1 months notice), unless the landlord uses one (or more) of the 18 grounds for eviction. This legislation will impact the student market as potentially properties could become available at any time of year, when the market to secure replacement tenants is quieter.
Election Manifesto Summary 1st Jun 2017
The Scottish Association of Landlords have outlined the key points from the Scottish political parties’ manifestos which are likely to be relevant to landlords. They have also included in red text key policies relating to the private rented sector from the parties’ UK manifestos which will not apply in Scotland as housing policy is a devolved matter (ie governed by the Scottish Parliament), but which nonetheless may be of interest to members. Read the manifesto summary here: