The Key Place Newsletter, August 2015 1st Aug 2015

Welcome to the August edition of our newsletter, giving you current news from across the rental industry.  This month we are looking at how the Scottish rental market is performing in the second quarter of 2015.  We discuss landlord and tenant responsibilities - lack of knowledge is leading to an increase in disputes.  And investors, have a look at the Scottish property blog. 

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The Scottish Rental Market 1st Aug 2015

In the second quarter of 2015 (1st April to 30th June), the Scottish Private Rented Sector (PRS) has continued its upward climb in most areas, with Aberdeen being the main exception, as it bends to reduced oil prices (free market economics in action).  Edinburgh recorded strong growth at 7.3% (Citylets), with properties taking an average of 1 month to let. To give an idea of rents, within Edinburgh, the average monthly rent for a 1 bed is £631; £850 for a 2 bed; £1207 for a 3 bed; and £1654 for a 4 bed property (Citylets).

Is Your Investment Insured? 1st Aug 2015

Damage to a rental property can prove to be quite a headache. It is therefore essential that landlords have the right insurance policies in place in order to protect their investment. New research proves that the unexpected can, and does happen. Property damage can be a costly issue for landlords especially if the level of damage exceeds the value of the tenancy deposit. Tenants are expected to report any damages to the landlord or letting agency, and all parties then agree how replacements or repairs are going to be arranged and paid for – but agreements aren't always reached amicably.

Property Damage - The Latest Research 1st Aug 2015

Recent research from MakeItCheaper.com reveals that 43% of renters do not know whether the responsibility for maintaining their rental property lies with themselves, their landlord, or their letting agent. 11% say they have a better understanding of their responsibilities than their landlord, while 48% said they believe their landlord knows more about this issue.

Landlord or Tenant - Who is Responsible for What? 1st Aug 2015

A significant number of tenants are unaware of their responsibilities when it comes to maintaining a rented property. The confusion surrounding this can lead to disputes when it comes to the end of a tenancy. There needs to be more clarity over who is responsible for maintaining which aspect of the property. So who is responsible for what?

The Penicuik Property Blog 1st Aug 2015

Landlords, how much is your property worth, and where is the next one coming from?  The Penicuik Property Blog (part of the Scottish Property Blog series) gives you the answers.Click here to read The Penicuik Property Blog.

Meet The Key Place Staff 1st Aug 2015

Helene Wilkinson is the Manager of our busy Penicuik office, which she runs with great enthusiasm. Helene has worked with The Key Place for 3 years. She started as a Letting Agent in our Bo’ness office, before taking over the helm in Penicuik. Previously Helene worked for land securities and dealt with commercial properties, however was keen to move into private lettings. Helene’s favourite part of the job is meeting people and problem solving. She is less keen on doing the filing! Helene is a proud mum to Nadia who is 19 years old and going to university in September to study Sociology. Helene is a belly dancer and she participated in live shows and gala day events for 4 years! Helene’s favourite quote is ‘you’ve gotta dance like there's nobody watching`! Fiona McBeth is...