The Key Place Newsletter, August 2017 1st Aug 2017

Welcome to the August edition of our newsletter giving you current news from across the Private Rented Sector.  This month we discuss how the market is performing, with a link to the latest Citylets report.  We look at why you need landlord insurance, and point you to Bruce Stevenson for a comprehensive package.  Read our top ten tips for investing in buy to let, and find out why landlords are choosing to invest north of the border. We hope you enjoy The Key Place newsletter.  Please share with friends and they can subscribe to be added to our mailing list.

PRS Market Report 1st Aug 2017

The latest research from Citylets has revealed positive growth in the 3 months to the end of June in the Private Rented Sector Scotland wide as demand continues to outstrip supply. The overall national average grew by 1.5% year on year to £789 per month. This was led by growth in Edinburgh (5.2%) and Glasgow (5%), combined with the rate of decline in Aberdeen easing. Average rents in Aberdeen are currently £788pcm – just £1 below the national average. Rents in Edinburgh increased 5.2% year on year to an average of £1,037 per month, well above any other location in Scotland. All major markets in the city recorded strong gains with 2 beds performing best, up 6% at £950 per month. 1 bed flats are reaching an average of £713, 3 beds £1350 and 4 bed £1863. Average time to let in...

Citylets Report 1st Aug 2017

Bruce Stevenson Insurance 1st Aug 2017

It is essential that you have comprehensive landlord insurance for your rental property.  The Key Place offers a package for our fully managed landlords through Bruce Stevenson.  Find out more here . . . The_Key_Place___Landlord_Insurance.pdf   

Landlord Insurance 1st Aug 2017

Landlords need specific insurance for rental properties, which includes protection for both buildings and contents. Landlords also need extra cover for things like: - Non payment of rent- Tenant damage to a property- Loss of earnings / rehousing costs if tenants need to move out following an insured event- Liability for accidents in your property that lead to injury Whilst most tenancies run smoothly with the majority of tenants looking after rental properties well, every now and then a less respectful tenancy may happen. Although insurers generally receive more accidental damage claims, they have seen a marked rise in Theft & Malicious Damage by Tenant claims in recent years. This may be down to landlords realising their policy covers this sort of thing, along with the increase in...

Top Ten Buy to Let Tips 1st Aug 2017

1) Do your research. Is buy to let the right investment vehicle for you? If you have taken advice and want to proceed then it is essential that you research the market thoroughly. Consider how much you want to spend, what you want to get from your investment, what you want to buy, and where. Rental properties work well for many people in terms of income and capital gains but you must approach it fully equipped with all the facts, and a full knowledge of potential benefits and risks. From the outset you need to have a clear idea of the purpose of your buy to let investment. Are you buying to achieve a monthly yield or longer term capital growth? Are you buying the property for your children once they are older or yourself in retirement? Your longer term aims will affect what you buy and...

Investing in Scotland 1st Aug 2017

Buy to Let in Scotland is becoming increasingly attractive as political uncertainty and high property prices impact the market in England. Research (Hometrack) has found that the price gap between London and Edinburgh is at its biggest in 20 years. Edinburgh has an average house price of £206,000 and had 5.4% growth in the past 12 months – compared with London’s £492,000 average and 3.3% growth in the same period. As a result a lot of English investors are looking to Scotland, as we compare favourably to other parts of the UK in terms of yields, entry prices and potential for growth. Further research (Your Move Scotland) observes that as far as yields are concerned, Scotland is outperforming England. Whilst there has been a dip in England and Wales, Scottish rental yields have...