The revised Payment Services Directive (2015/2366/EU) (PSDII) was transposed by all Member States into national law on 13th January 2018. Universally welcomed by consumers it has, nevertheless, had a detrimental effect on some business sectors. A small corner shop selling low value goods at a 5% margin is likely to turn down a credit or […]
As of the 31st January 2018, all letting agents in Scotland will be subject to The Letting Agent Code of Practice (Scotland) Regulations 2016. The Code requires the Letting Agent’s clients (landlords) to act in concord with the agent, in terms of probity in their business and personal dealings. Section 31 compels the agent to […]
The Private Housing (Tenancies) (Scotland) Act 2016 that was passed by the Scottish Parliament earlier this year comes into force on 1st December 2017. It will become the de-facto tenancy and replaces the Assured and Short Assured Tenancies we have employed since 1988 (and before). These will remain in force but no new ones can […]
Recent changes in government property taxation, stamp duty and income tax have undeniably sent out mixed messages as to the government’s view of buy-to-let landlords. On the one hand, they continue to postulate on their commitment to a healthy PRS (Private Rented Sector) confirming what a vital role the sector provides and acknowledging the desperate […]
The Council does not seem to have a clear policy regarding short term lets. Factotum are concerned that landlords are getting confusing advice from council workers. They seem to have advised some of our landlords that a tenancy longer than a month would represent the tenants’ only or main residence, adopting HMRC’s definition of 31 days […]
The majority of people who rent residential accommodation are tenants, but some are in fact a licensee. Firstly – what is the difference? Licensees are common in establishments where the employee is granted accommodation as part of the employment package. For example, educational establishments. A licence rather than a tenancy is seen as a way […]
Generation Z, also known as the post-millennials or the iGeneration, are rapidly approaching adulthood. Born from 2000 onwards, they are getting ready to take their exams, leave the family home and head to university. They’ll enjoy their 18th birthdays in 2018. Around the time the new Private Rented Tenancy (PRT) comes into force in late […]
The Private Housing (Tenancies) (Scotland) Act 2016 will come into force in late 2017 to early 2018. Dealing with long term regulations, it dispenses with the present Assured and Short Assured Tenancies and introduces a Private Rented Tenancy (PRT). We refer to Short Assured Tenancies as Long Term lets. No less than six months in […]