The Key Place Newsletter September 2017 1st Sep 2017

Welcome to the September newsletter giving you news from across the Private Rented Sector.  This month we look at the move towards longer term tenancies.  Buy to let confidence is strong, and we explore the latest market research in this area.  We look at proposed rent caps in Edinburgh. We discuss student requirements for top notch technology.  We look at the Warm Homes Discount scheme.  And finally read the exciting Midlothian Women in Business programme. We hope you enjoy The Key Place newsletter.  Please share with friends and they can subscribe to be added to our mailing list.

Long Term Tenancies 1st Sep 2017

New research (Your Move) has revealed that in the UK, tenants now stay in rental properties for an average of almost 2 years, up 18% from 2014. Scottish tenants are staying for an average of 18 months, with east coast tenants reaching an average of 20 months, compared to 16 months in the Highlands and Islands. A recent tenant survey (LSL Property Services) found that over a third of tenants would like a tenancy agreement of a minimum of 3 years, to give them the security of a home. Landlords can also benefit from the security longer term tenancies bring, as long as they have good, well paying tenants. Further research shows that 25% of all UK households are predicted to be occupied by private renters by 2025. This has come at a time when the rental industry is booming – it has...

Buy To Let 1st Sep 2017

A new poll (Knight Knox) has found that more than half of UK landlords are confident about the buy to let sector. 59% of landlords surveyed are confident in renting out property as a source of income, with only 11% having lost confidence and 30% being unsure, according to the survey. It further found that half of respondents intend to buy another rental property within the next five years despite the recent policy changes introduced by the Government affecting their tax. The survey also found that 44% of landlords have been renting out property for five years or fewer, suggesting a strong appetite for entry into the market. Good news then that in spite of changes including tax and stamp duty, landlords remain confident about the returns that can be generated by this asset class....

Students Want Technology 1st Sep 2017

Student lets are booming business if you can afford to get into that investment stream. Successful landlords increasingly own student properties as part of their portfolio, as do big institutions, including insurers Aviva and Legal & General. With many Universities lacking the funds required to build or maintain their own housing, there is a severe shortage of student accommodation across many parts of the UK, and this has helped to push up rents in the sector as demand outstrips supply. However student needs have changed over the years and landlords need to be aware of this. A new report from Currys PC World Business has revealed that landlords who fail to properly invest in technology may well be losing out on significant income. According to the findings, technology can make...

Edinburgh Rent Caps 1st Sep 2017

The City of Edinburgh Council has announced that it plans to apply for a city wide Rent Pressure Zone (RPZ) once the Private Residential Tenancy (PRT) regime comes into force (expected to be on 1st December).   The regime allows local authorities to apply to Scottish Ministers for areas to be designated as RPZs. Scottish Ministers must decide whether or not to regulate to introduce an RPZ within 18 weeks of the application being made. If Scottish Ministers do decide to regulate, it is likely to be several more months before regulations come into force in Edinburgh, meaning that it is unlikely any RPZ would take effect until 2019 at the earliest. Within an RPZ there is a cap placed on rent increases. To be clear, this cap would only apply to increases for new tenancies, i.e. those...

Midlothian Women in Business 1st Sep 2017

Midlothian Women in Business is an informal networking group bringing like-minded women together once a month, in order to collaborate and share information and experiences in order to grow our businesses. There are no membership costs, and all women who are in business in Midlothian, or are interested in expanding into Midlothian, are very welcome. Just buy your own cuppa. Meetings are held 9.30-11am, Dalhousie Castle, Bonnyrigg. Every month we have a topic for discussion, led by an industry expert. We have an exciting programme taking us up to Christmas as follows: Tuesday 19th September, 2017Phil Bowen, Midlothian View. Fergus Watson, Tourism Business Adviser, MBTAG (Midlothian & Borders Tourism Action Group). Midlothian business women, don’t miss this event.   Phil...

Warm Homes Discount scheme 1st Sep 2017

Follow the link below for the latest information on the Warm Homes Discount scheme, a programme of support aimed at households who may struggle with their energy bills.