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 […]
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 […]