For would-be property investors, letting in Edinburgh holds several advantages. Scotland’s capital is home to a booming economy and a growing population of young professionals and students. And this means rental demand has never been higher.
But before you purchase property in Edinburgh and start advertising for tenants, there are a few things you’ll need to do as a new landlord.
Here, we explain all.
3 Things You Must Do Before Letting in Edinburgh
- Register with Edinburgh City Council
It’s an offence to let any house in Scotland without first being registered as a landlord. If you attempt to do so, you could end up with a maximum fine of £50,000 for operating as an unregistered landlord.
The register allows tenants and neighbours to identify and contact landlords of privately rented properties. For example, if there are noise complaints or concerns about building safety, you must be reachable to address these issues.
To apply for landlord registration, visit the Scottish Landlord Register website.
- Get the Right Insurance for Landlords
All rental property must be covered by the right kind of insurance policy. Most ordinary home insurance products won’t cover rented accommodation, so you’ll need to purchase specialist landlord building and contents insurance.
If you don’t have the right insurance in place, you won’t be able to make a claim should the property (and its contents) suffer serious damage.
- Inspect Your Property Before Letting in Edinburgh
Finally, you need to ensure all gas and electrical appliances, fixtures and fittings, furniture and soft furnishings are safe to use and have been maintained in good condition.
As a new landlord letting in Edinburgh, you’ll have the following responsibilities:
- Safety certificates must kept be up-to-date
- Property must comply with local safety regulations
- Tenants must be provided with the correct user documentation
If you fail to do this, you could be hit with penalties from the local council.
Thinking of Letting in Edinburgh? Get Advice from Zone
Once your tenants are in place, you’ll need to stay on top of your new-found property management responsibilities.
The good news is that you don’t have to go it alone. A knowledgeable local letting agent can help you get organised and stay compliant.
Contact our specialist property experts to learn how Zone can handle your Edinburgh letting responsibilities on your behalf.