There’s little doubt that Airbnb has affected the Edinburgh letting landscape. The company claims 120,000 people have booked through their website between the 3rd – 27th August 2018 for the Edinburgh Fringe, boosting Edinburgh’s economy by £48 million and bringing Edinburgh Airbnb hosts a personal profit of £15 million. So what is Airbnb? Saviour of the economy? Selling […]
What is a sole agency agreement? It’s when a letting agent is the only agent letting the property. It’s common in estate agency work and usually entails a reduced commission when dealing in sales. In letting, it forbids a landlord to advertise or let a property through any other channel or company apart from them. […]
The Fringe, Edinburgh International Festival, Edinburgh International Book Festival, Edinburgh Art Festival… there’s no doubt that the Edinburgh population grows considerably every August. Visitors flock to our capital to soak up the atmosphere, the art, the architecture… but what about festival accommodation? So when you’re visiting Edinburgh – where do you book festival accommodation? A […]
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 […]
Do I require linen? Do I require pots, pans and crockery? What essential furniture is necessary? These are just a few of the questions we get from landlords looking to rent out their flat. Factotum has compiled a list of what is essential for both short term and long term properties. Short Term, Festival and […]
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 […]