Festival Lets vs Self-Catering vs Hotel vs Airbnb

Festival Lets vs Self-Catering vs Hotel vs Airbnb

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 […]

Credit Card Charges Ban – What’s the Fallout?

Credit Card Charges Ban – What’s the Fallout?

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 […]

Letting Agent Code of Practice and Registration

Letting Agent Code of Practice and Registration

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 […]

Private Housing (Tenancies) (Scotland) Act 2016

Private Housing (Tenancies) (Scotland) Act 2016

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 […]

Buy-to-Let Landlords are NOT the Villains!

Buy-to-Let Landlords are NOT the Villains!

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 […]

Airbnb vs Airbnb Agent vs Letting Agent

Airbnb vs Airbnb Agent vs Letting Agent

There’s absolutely no doubt that the success of Airbnb and Airbnb agents has completely changed the landscape of the Edinburgh lettings market. It’s a fantastic business model. Allowing users to capitalise on their property by renting their spare room, it’s an easy way to make some extra money. The website that was originally designed to rent […]

Short Term or Holiday Let – is there a difference?

Short Term or Holiday Let – is there a difference?

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 […]

Tenant or Licensee?

Tenant or Licensee?

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 – The Accommodation Crisis

Generation Z – The Accommodation Crisis

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 […]