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 […]
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 […]
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’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 […]
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 […]
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 […]