Tag Archives: scotland

Robust BTL Strategy required for £1m investment in Scotland Latest Articles

Hello everyone.

I hope this finds you all well in the run up to the festive period.

My name is Andrew Hayworth. I’m new to the forum and wanted to introduce myself with a question for you all.

I am in the process of setting up a property investment vehicle, focusing on residential buy-to-lets, with initial capital c.£1m.

Target areas are Edinburgh, Aberdeen, Glasgow, Dundee and Inverness. I know these markets and have an existing contact network of tradesmen established in Edinburgh, Aberdeen and Dundee. I also have a large family network in Inverness who can advise on location, tradesmen and the state of play re the local market and new University opening in 2015.

I currently own 3 residential buy-to-lets in Edinburgh (where I live) so have a base working knowledge of property investment. However, I am looking to identify someone who can advise on the development of a robust investment strategy for a larger portfolio and to help mitigate risk where possible.

I would also be interested to hear from any Scottish members who would be willing to open a dialogue. I’m a young businessman (27) who has benefited greatly from mentoring throughout my career to date. Whilst I have worked in property previously (3 BTL’s and a couple of refurb + sales) I feel that building a relationship with someone more experienced would be invaluable over the coming 12-months.

I should note that I’m not looking to steal too much time. Just some feedback and advice from readers or lunch once a month (on me of course) and the occasional email for questions/sense checking.

Many thanks to everyone in advance.

Have a great Christmas when it comes.


Lettings package exclusively for Scottish Landlords Landlord News, Latest Articles, Lettings & Management, Property News

Lettings package exclusively for Scottish LandlordsScottish landlords want at least three things from their tenants:-

Rent paid on time
Respect the property
Respect the neighbours

There are many ways to find these perfect tenants and to insure against the risks of any problems. The cost of full property management in Scotland has been increasing as agents are having to pass on costs landlords previously paid by tenants. Continue reading Lettings package exclusively for Scottish Landlords

Some good News for Landlords in Scotland at last Landlord News, Latest Articles, Letting, Lettings & Management, Property Investment News, Property News

Good News for Landlords in Scotland at last

I keep in touch with what’s going on in the lives of my fellow landlords North of the border via my friends at the Scottish Association of Landlords (SAL) and via listening to members of the Association, many of whom joined SAL on my recommendation.

Members of SAL tell me landlords in Scotland are feeling the pinch of all the new regulations. Letting Agents fees are rocketing to offset the premiums they used to charge to tenants and many of the online portals have pulled out of working with Scottish landlords altogether.

Just because I don’t own any properties myself in Scotland doesn’t prevent me from keeping an eye on the market to look out for solutions though, my ancesters are Scots so I know that every penny counts.

The new regulations might be a pain in the neck for some (OK most!) but as they say, as one door closes another one opens.

I’ve been discussing the challenges with several of my contacts and one of them, an online letting agent (member of the Scottish Association of Landlords and ARLA), has decided to buck the trend and create a brand new product for Scottish landlords whilst their competitors are exiting the market in droves.

This is an overview of their product and I would be very interested in your feedback, especially if you own and let properties in Scotland.

Scottish Landlords Letting and Rent Guarantee Package

  • Advertising of your property on all the major property portals (Rightmove, Zoopla, Prime Location etc)
  • Tenant referencing
  • Dealing with Deposit Protection
  • Rent collection
  • Legal Expense Insurance Cover and Rent Guaranteed for 12 months up to £2,500 pcm and £25,000 in total (with an option to renew each year)
  • Eviction Proceeding costs covered

What’s more, you remain in control. You do the viewing so you get to look your prospective tenants in the eye and decide whether you want them living in your property. This also helps keeps costs down 🙂

The outcome of a tenancy is set at the beginning I think you will agree? However, on top of the increased regulation in Scotland and the associated costs being passed onto landlords, rent arrears, which are every landlords worst nightmare, are increasing too.

One bad tenant can leave you unable to pay your mortgage with prospects of losing your property and possibly bankruptcy. Worse still the court system can take well over 6 months to achieve eviction!

Add to that extortionate lawyers fees and damage to the property, is it any wonder that rent arrears and rising costs of compliance are the biggest fear amongst Scottish landlords?

The rent arrears situation is getting worse.

Arrears are increasing, courts are closing and the process of re-gaining possession of your property is taking longer and longer…

Is it any wonder that “professional rent dodgers” are having a field day?

Things are now about to change for the better for Scottish Landlords though 🙂

The rent guarantee insurers are happy to partner with the agent offering the above scheme due to their unparalleled tenant find and vetting procedure which provides for low risk letting.  

The bottom line is that if the tenant does not pay – you still get paid, and you still save money :-)

Given that 10% of tenants are in arrears amounting to thousands of pounds, and you get rent protection and legal cover, you’d expect a hefty premium wouldn’t you?

Not so – because of this letting agents bulk buying power already established in England and Wales, all of the above can be offered for a full year for just £247 + VAT. Compare that to the fees that your letting agent charges!

It get’s better though!

The deal even comes with a Money Back Guarantee!

If your property is not “Let Agreed” within 30 days you can cancel your instructions and have a full refund.

It’s a meaningful guarantee too, not from some two bob business operating from a bedroom, these agents are qualified members of ARLA and are also members of the Scottish Association of Landlords.

So, why take the risk with your property when you can use this service and get complete peace of mind at such an incredible price?

To find out more please complete the form below.

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Landlords face compulsory nationwide deposit protection Buy to Let News, Landlord News, Latest Articles, Lettings & Management, Property News

The countdown to nationwide tenant deposit protection is on as Scotland joins the scheme already running in England and Wales from July 2.

The Scottish Government has approved two more protection schemes, giving landlords and letting agents the choice of three. Continue reading Landlords face compulsory nationwide deposit protection

Landlord Legal Update – for the real Northerners (…Scotland) Buy to Let News, HMO's & Student Lets, Latest Articles, UK Property Forum for Buy to Let Landlords

Are you looking for a legal update in relation to landlord matters north of the border, in particular the tenancy deposit scheme? We’ve been regular readers and admirers of the Property118 blog for some time and have always had the strange idea that perhaps something was missing. We now think it might be the lack of blog articles from someone in Scotland. To those of you who don’t know, Scotland is that bit of Britain which is much further north than the area that everyone in London calls “the North”. As someone who lives in a place where Manchester is 200 miles to the south, I always find it highly amusing to hear Mancunians called “northerners”. Continue reading Landlord Legal Update – for the real Northerners (…Scotland)

House Prices Drop Slightly in Scotland House Prices, Latest Articles, Property Market News

House prices in East and Central Scotland have fallen over the past three months according to the latest house price report from ESPC, and they don’t expect things to change.

On average, Edinburgh has seen a drop of 1.1% in the course of the year, but the properties in the city centre increased in value by 3.4%. Other areas saw big drops; one bedroom flats in Gorgie and Dalry for example dropped by 11% in value. Continue reading House Prices Drop Slightly in Scotland

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