The Shore, Leith. Edinburgh.
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Information for Landlords and Property Owners
 


Due to the current market demand for residential rental property, we particularly require properties to let throughout Leith, The Shore and Edinburgh.

Our 'Full Management' introductory offer is 6% (per month) for the first 3 months, and our standard 9% thereafter, deductable from the agreed monthly rental. We also offer a 'Let Only' service, the full details of which are provided below.

Contact us today by calling us on: 0131 610 0510 or emailing: info@leithlets.com to arrange an appointment for a free evaluation of your property.

If you currently own or intend to purchase residential property for rental in Leith, Edinburgh, you should consider engaging our property management service. You'll find us professional and cost-effective.

We deal with potential and existing landlords on a daily basis and recognise that the decision to lease your property can appear a daunting and complex prospect. Leith Lets make this process simple and can quickly ease you through from potential landlord to successful landlord maximising your opportunity and achieving the full potential of your property. Our experienced staff understand the local market and take the stress out of letting.

Our Services Include:

• Visiting you at your property, and providing a rental valuation and any other advice which you may require about letting your property.
• Advising you on compliance with the various safety regulations.
• Locating suitable tenants. Your property will be extensively advertised, a 'To Let' board will be erected, and we are available 7 days a week to accompany tenants to view the property (including evenings).
• Obtaining and evaluating references and credit checks.
• Preparing a Tenant Information Pack.
• Preparing a suitable tenancy agreement and arranging signature by the tenant.
• Collecting a deposit (bond) from the tenant and lodge with an approved Tenancy Deposit Scheme (TDS) provider.
• Preparing a detailed inventory and schedule of condition supported by high definition (HD) video & photographs.
• Checking the tenant into the property and agreeing the inventory.
• Supervising the transfer of gas, electricity and council tax accounts into the tenant's name.
• Receiving rental payments monthly in advance, and paying you promptly, together with a detailed statement from our computerised management systems.
• If required paying regular outgoings for you from rental payments.
• Inspecting the property periodically, and reporting any problems to you.
• Arranging any necessary repairs or maintenance, first liaising with you in the case of larger works.
• Keeping in touch with the tenant on a routine basis, and arranging renewals of the agreement as necessary.
• Checking tenants out as required, re letting and continuing the process with the minimum of vacant periods to ensure that you receive the optimum return from your property.
• We maintain a flexible attitude, and are generally able to adapt our service to meet our client's individual circumstances and needs, for example by providing a part only service, or alternatively by taking on additional tasks and duties.

Leith Lets can help make sure that your property complies with all relevant regulations, and that you meet the current landlord registration requirements.

If you are a non-resident landlord, we will help you complete the necessary paperwork. We will keep you updated and warning you about any changes to the rules, and giving more general market news.

We can also help with the financial aspects of letting property: compliance with money laundering and insurance requirements, for example, and advice on maximizing the yields from buy-to-let property.

To find out more about how we could help you through the letting rules and regulations, and our letting service, please don't hesitate to contact us.


Tenancy Deposit Scheme (TDS)

The Tenancy Deposit Schemes (Scotland) Regulations 2011 came into force on 7th March 2011 and the scheme starts on Monday 2nd July 2012.
The Tenancy Deposit Scheme prescribes that deposits should be held by an independent 3rd party to protect deposits until they are due to be repaid. After 2nd July 2012, landlords (and letting agents) must pay deposits to 1 of 3 approved TDS scheme providers and must provide the tenant with key information about the tenancy and deposit. The money will be held by the TDS scheme provider until the end of the tenancy; this will allow deposits to be arbitrated more fairly at the end of tenancies.


Landlord Registration

From April 2006 all landlords in Scotland are legally required to register themselves, each property they let and their chosen agent, with their appropriate local authority and must be deemed a fit and proper person in order to let a property. Non-resident landlords also have specific documentation to complete.

Registration can be made online at: Landlord Registration Scotland (https://www.landlordregistrationscotland.gov.uk) and lasts for three years. Similarly, agents must register with each council area in which they operate. The Leith Lets registration number is 305376/230/22281.

We cannot proceed with letting your property without confirmation of your registration number.


Tenant Information Packs

New Legislation from the Scottish Government. Section 33 of the Private Rented Housing (Scotland) Act 2011 places a duty on landlords to provide new tenants with a tenant information pack.
From 1st May 2013 all tenants moving into a property must be provided with a pack containing standardised information about their tenancy and copies of all relevant safety certification.
The pack will explain tenant’s rights under a short assured tenancy and their landlord’s obligations. Tenants must be provided with the gas safety certificate (GSC) and an energy performance certificate (EPC). An electrical inspection condition report (EICR) must also be made available, for fixed wiring, and tests on portable appliances (PAT) must also be carried out.
We will arrange certificates for our clients as required. Packs must be provided to each individual tenant when they sign a lease. There will be no charge for preparing the packs.


Regulations

It is very important to know about the various gas and electrical regulations that must be complied with when letting a residential property.

The Housing Scotland Act states that a landlord must ensure their property meets the Repairing Standard at the start of, and throughout, a tenancy. There are also safety regulations for soft furnishings that all landlords must comply with.

If your property is to be let to three or more unrelated adults, a separate HMO (House in multiple occupation) licence is required as well.


Gas Regulations

Landlords Gas Safety Certificate (GSC): Under the Gas Safety (Installation and Use) Regulations 1998, a property must be issued with a Landlords Gas Safety certificate before the property can be let. This is renewable every twelve months and should not be confused with an annual service. Unless you have instructed Leith Lets to arrange for the certificates to be carried out on your behalf, a copy of the certificate should be provided to our office before a tenancy commences.


Electrical Regulations

Under the Electrical Equipment (Safety) Regulations 1994 and the Housing (Scotland) Act 2006, landlords are responsible for ensuring that all electrical installations and appliances are maintained in good working order and safe to use. In order to comply, landlords are advised to have a EICR carried out every three years and PATs carried out annually.

Electrical Installation Condition Report (EICR)

Replacing the Periodic Inspection Report (PIR) on 1 January 2012, the Electrical Installation Condition Report (EICR) is an inspection of the condition of the existing electrical installation within a property. Like the PIR an EICR will:
• Reveal if any of your electrical circuits or equipment is overloaded
• Find any potential electrical shock risks & fire hazards in your electrical installation
• Identify any defective electrical work
• Identify any lack of earthing or bonding
As a Landlord, the law states that you have a duty of care to make sure the property electrics (fuse box, light switches, sockets, etc.) are safe to use & the only way to do this is to have a EICR test carried out

Portable Appliance Testing (PAT)

All electrical appliances supplied with let accommodation must be safe. Portable Appliance Testing is widely regarded as being the best way of complying with this obligation.
The Portable Appliance Test includes visual checks and tests carried out on electrical appliances and their plugs and cables.


Energy Performance Certificate (EPC)

Any property available for let as of 4th January 2009 must provide an EPC in order to comply with European Union directives. An EPC must be completed by a Chartered Surveyor or a qualified Energy Assessor and indicates how environmentally friendly and energy efficient a property is - in much the same way as for domestic appliances. This certificate must be made available to Leith Lets prior to marketing, so that we can make it available to prospective tenants.


Copies of all certificates should be provided to Leith Lets before a tenancy commences, unless you have instructed Leith Lets to arrange for the certificates to be carried out on your behalf.


House In Multiple Occupation (HMO) Regulations

These apply to any property in which three or more unrelated adults share.
In this case the landlord needs to apply to the local authority for a license to let the property. Certain criteria may have to be met to comply with the regulations. Please get in touch with us if you require more detailed advice.


Housing (Scotland) Act 2006 – The Repairing Standard

This Act came into force on 3 September 2007 and states that a landlord must ensure their property meets the Repairing Standard at the start of, and throughout, a tenancy.
A landlord will have to ensure that their property is “reasonably fit for human habitation” and is wind and water tight. The structure, exterior, installations, fixtures and fittings should be in reasonable repair and working order. Landlords, or their agents will be required to undertake repairs and maintenance to their property in a reasonable timescale.


Smoke & Heat Alarms

There must be a minimum of one functioning smoke alarm in every room which is frequently used by the occupants for general daytime living purposes, one functioning smoke alarm in every circulation space, such as hallways and landings, along with one heat alarm in every kitchen. All alarms should be mains powered/ hardwired with a standby power supply. All alarms should be interlinked. The landlord should ensure that the smoke & heat alarm(s) are regularly maintained in accordance with the manufacturer’s recommendations.


Carbon Monoxide Detector & Fire Blanket

As part of the Repairing Standard & the Edinburgh Landlord Accreditation Scheme we require a property to have a suitably located Carbon monoxide alarm (if property has a gas supply) & a Fire blanket provided in the kitchen


Legionella Risk Assessment

It is the landlords responsibility to manage the property so as not to expose the tenant, residents and visitors to Legionnaires’ disease by making sure a risk assessment is carried out and any necessary control measures are put in place. The landlord understands the assessment needs to be renewed if there has been any changes to the system.


Soft Furnishings

It is mandatory to ensure that all soft furnishings in a let property comply with the Furniture and Furnishings (Fire) (Safety) Regulations 1988.
In order to satisfy these regulations, all items of soft furnishings such as mattresses, sofas, windows seats, etc., must display a compliance label. As a landlord it is your responsibility to ensure that all furniture and soft furnishings comply. Any items which do not comply should be removed from your property.


Mortgage & Insurance

Permission for a property to be used for letting MUST be obtained from your mortgage & insurance lenders. Failure to inform your insurer could invalidate any future claim.


Letting Your Property From Abroad

The Non-resident Landlords Scheme is a scheme for taxing the UK rental income of non-resident landlords. A non-resident Landlord is one who usually lives or travels for more than 6 months outside the United Kingdom. The scheme requires UK letting agents to deduct Basic Rate tax (presently 20%) from any rent they collect (minus deductible expenses) for non-resident landlords. Letting agents and/or tenants don't have to deduct tax if HM Revenue & Customs (HMRC) instructs them otherwise. HMRC will tell an agent/tenant not to deduct tax if non-resident landlords have successfully applied for approval to receive rents with no tax deducted. Rent may be paid with no tax deducted but it remains liable to UK tax. Non-resident landlords must include it in any tax return HMRC sends them. Non-residents MUST complete form P85 & form R105.


Our Price List

Landlords Annual Gas Safety Certificate (GSC):
from £50.00
Landlords Annual Electrical (PAT) Test:
from £55.00
Energy Performance Certificate (EPC):
from £50.00
Electrical Installation Condition Report (EICR):
from £135.00
Boiler Service:
from £65.00
Supply & fit a Carbon monoxide detector:
from £45.00
Supply & fit a Fire blanket:
from £40.00
Supply & fit Carbon monoxide detector & Fire blanket:
from £75.00
Supply & fit mains operated smoke & heat alarms:
£call for quote

 

 

 

 

 

 

Please note the above prices may be subject to change without prior notice.

We will not be responsible for services to the property should they fail the initial inspection. You will incur additional costs to bring them up to standard.


LANDLORD FEES: FULL MANAGEMENT

Our Full Management introductory offer is 6% (per month) for the first 3 months, and our standard 9% thereafter, deductible from the agreed monthly rental.

Marketing fee £125.00

This includes:
• Advertising ('To Let' board, internet etc)
• Viewings (9am - 9pm, 7 days a week)
• Obtaining and evaluating references and credit checks.
• Preparing a Tenant Information Pack.
• Preparing a suitable tenancy agreement and arranging signature by the tenant.
• Checking the tenant into the property and agreeing the inventory.
• Supervising the transfer of gas, electricity and council tax accounts into the tenant's name.

Please note, the £125.00 marketing fee will be applicable where remarketing takes place.

Inventory:
We will prepare an inventory of contents detailing: condition, decoration, furnishings and furniture, supported by high definition (HD) video & photographic records.

Studio:
Unfurnished £35.00
Furnished £45.00
1 bedroom property:
Unfurnished £45.00
Furnished £60.00
2 bedroom property:
Unfurnished £55.00
Furnished £75.00
3 bedroom property:
Unfurnished £65.00
Furnished £85.00
4 bedroom property:
Unfurnished £75.00
Furnished £100.00
5 bedroom property:
Unfurnished £85.00
Furnished £110.00


 

 

 

Additional services:

HMO works (3 beds +) 10%
If we are to apply for and project manage your HMO application or renewal.

Works management fee 10%
If we are to instruct, oversee, carry out or process any works/invoices for your property we will take a works fee from the total costs of works.

Insurance claims fee 10%
If we are to instruct, oversee, carry out or process any insurance claims or property refurbishments we will deduct a fee from the total cost of the works.

Key cutting £15.00
If instructed we can cut additional sets of property keys. Charged at cost price plus a charge for Agents time of £15.00

Lease renewal £30.00
New lease agreement for existing tenants where instructed or necessary.

Notice to quit £35.00
Served by sheriff officers. £35.00 plus VAT for 1st tenant £15.00 plus VAT for each tenant thereafter.


LANDLORD FEES: LET ONLY

We provide exactly the same service as the full management package up until the tenant moves in. From this point, the tenant will then deal with the landlord throughout the tenancy and the deposit will be held by the Tenancy Deposit Scheme (TDS) provider until the end of the tenancy.

Please check if you have a mortgage on the property, your mortgage lender may insist an agent manages the property.

Our Let Only Marketing fee is a one off fee equal to 50% of the monthly rental amount.

This includes:
• Advertising ('To Let' board, internet etc)
• Viewings (9am - 9pm, 7 days a week)
• Obtaining and evaluating references and credit checks.
• Preparing a Tenant Information Pack.
• Preparing a suitable tenancy agreement and arranging signature by the tenant.
• Checking the tenant into the property and agreeing the inventory.

Inventory:
We will prepare an inventory of contents detailing: condition, decoration, furnishings and furniture, supported by high definition (HD) video & photographic records.

Studio:
Unfurnished £35.00
Furnished £45.00
1 bedroom property:
Unfurnished £45.00
Furnished £60.00
2 bedroom property:
Unfurnished £55.00
Furnished £75.00
3 bedroom property:
Unfurnished £65.00
Furnished £85.00
4 bedroom property:
Unfurnished £75.00
Furnished £100.00
5 bedroom property:
Unfurnished £85.00
Furnished £110.00

 

 

 

 

Additional services:

Works management fee 10%
If we are to instruct, oversee, carry out or process any works/invoices for your property we will take a works fee from the total costs of works.

Exit inspection £75.00
We can visit your property at the end of the tenancy agreement, check the inventory, take photographs and send you a full damages and dilapidations report.

Lease renewal £95.00
New lease agreement for existing tenants where instructed or necessary due to a change in tenant

Holiday cover £price on request
At any time during the tenancy we would be able to take over full management of the tenancy, dealing with any issues 24 hours a day 7 days a week.


 
 
   
   
   
   
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