The Key Place Newsletter, December 2015 1st Dec 2015

Merry Christmas and welcome to the December edition of our newsletter, keeping you up to date with what is happening in the rental industry.  This month we are looking at investing in Midlothian; buy to let at Christmas; the importance of inventories; the new electrical and CO regulations; and sing along to The 12 Days of Letting!

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Festive Investment 1st Dec 2015

House buying wisdom tells us that spring and summer are the prime seasons for house hunting, as more people put their properties on the market. However there are some very logical reasons for going shopping for a house in the winter months too:

Buy to Let in Midlothian 1st Dec 2015

Location is key for buy to let investors, and landlords tend to purchase in areas they are knowledgeable of in terms of property prices, monthly rents and the local amenities that attract tenants to an area.

Confessions of a . . . Letting Agent 1st Dec 2015

There are a number of landlords who see inventories as being an unnecessary expense, and so decline our offer of doing one for them. 4 years into the deposit scheme, and I could give you numerous examples of why this is a bad idea, and why a small upfront cost could really pay off in the long run. Here is one such example.

Protect your Property with a Water Tight Inventory 1st Dec 2015

Recent research has revealed that landlords who insist on doing their own inventories make common mistakes, which puts them at a higher risk of losing a deposit dispute. The main mistake is lack of detail, with landlords failing to produce adequate photographic evidence accompanied by sufficient written commentary about the condition of the property (internal and external), and its contents at the start and end of every tenancy. If landlords do not have this, it may not be possible to retain money from the deposit to cover any damage, cleaning etc.

Electrical and CO Legislation 1st Dec 2015

As previously mentioned, new legislation came into force on 1st December 2015 regarding electrical safety checks and carbon monoxide monitoring. The Housing (Scotland) Act 2014 requires landlords to comply with the Repairing Standard with regards to the following:

The 12 Days of Letting . . . 1st Dec 2015

On the first day of Christmas, my true love sent to me: A brand new rental flat key! On the second day of Christmas, my true love sent to me: Help with Landlord Registration, And a brand new rental flat key! On the third day of Christmas, my true love sent to me: An Energy Performance Certificate (EPC), Landlord Registration, And a brand new rental flat key! On the fourth day of Christmas, my true love sent to me: A Landlord’s Gas Safety Certificate, An EPC, Landlord Registration, And a brand new rental flat key! On the fifth day of Christmas, my true love sent to me: Smoke and Heat Alarms, A Landlord’s Gas Safety Certificate, An EPC, Landlord Registration, And a brand new rental flat key! On the sixth day of Christmas, my true love sent to me: PAT and EICR...