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 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 […]
Deposits can be a topic of disagreement between tenants and landlords. It’s always the ideal to have 100% of the deposit returned to the tenant at the end of a lease. So how would a tenant go about making sure they get a full deposit returned? There are a few common issues that landlords 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 […]
One of the choices you must make as a landlord is whether to let your property as furnished or unfurnished. Surprisingly, it makes little to zero impact on the rental valuation. Factotum looks at the pros and cons, as well as key factors to take into account when making this decision. How long do you […]
To quote Benjamin Franklin, in this world nothing can said to be certain, except death and taxes. Letting a property is a great way to generate additional income or enhance your pension / retirement income. Unfortunately, it’s not free from rental income tax. Here’s Factotum’s guide on what to expect when you rent your property. […]
There are so many reasons to live in the thriving City of Edinburgh. It offers so many opportunities to so many people. We have brilliant universities – making it a huge attraction to students coming from far and wide. We have so much history and culture – making it very appealing to tourists. Edinburgh also […]
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 […]