The residential letting & management service

• Property inspection, rental advice and valuation,
  without commitment
• Efficient marketing and viewing; advertising when   necessary
• Placing of good tenants, or tenant sourcing and reference   verification
• Preparation of leases, at5, inventory , schedule of   condition
• Supervision of the transfer of utility services & council tax   accounts
• Ensuring full compliance relating to gas, electric, furniture
• Quarterly property inspection and client reporting
• Ongoing emergency maintenance supervision
• Rental income collection and remittance by electronic   banking
• Quarterly income and remittance statement to landlord
• All properties and tenants are closely monitored to   endeavor to ensure continuity of rental payments
• Let residential insurances arranged
• Interior decorations/renovations managed

Management fees
Our terms of business for full management are 9% to 15% of the achieved monthly rental for short assured tenancies of 6 months or more. Contact us for a quote. Aside from an administration and advertising charge of £150 and a 10% project management on cost for any major works or furnishings you wish us to carry out on your behalf, we levy no further management fees whatsoever.

We fee at 50% of the first months rental (subject to a minimum of £275) for let-only instructions.

For short term lets, holiday lets and festival lets, we fee at 15% of the achieved rental.

Your questions answered
Below are answers to the most common queries of new clients, just to set out the best mode in which to proceed with the letting of your investment. If you decide to assign management of your property to us, we shall endeavour to understand your specific needs and supply you with a tailored property solution, allowing a firm working relationship to grow.

Lease Arrangements
Normally the most appropriate format is the Short Assured Tenancy Agreement over a minimum period of six months.

Safety Compliance
Recently compliance with the relevant health & safety legislation has become an important issue. We ensure that our clients and their investments are fully in line with all the current legal requirements for leased properties in areas of fire & furnishing safety, gas safety certification, electrical safety certification and stay within the legal bounds of the Housing Act 1985.

Sensible Budgeting
It is safe to assume that a property under year round tenure will require annual general maintenance of a value equivalent to one months’ rental and at the very worst, will experience one month of rental void.

For properties under mortgage or finance, we recommend you allow at least a month of cushion available in terms of meeting payments.

We usually recommend our clients to set an autonomous spend limit for emergency repairs, above which prior approval is needed: this should be at least £150. Any repairs of below this cost can therefore be dealt with in an expedient fashion without need of specific client approval.

Tax Issues
Rental income is taxable in Scotland. Landlords must declare this income on a Self-Assessment Tax Return.
Many of the expenses related to the letting of your property are deductible and can be used to offset profit:

• insurances
• ground rent
• management fees
• repairs
• wear & tear allowance
• professional fees
• loan interest

We can provide guidance on self-assessment for landlords.

For the landlord wishing to ‘holiday let’ his/her property during the Fringe Festival and/or Hogmanay, we can offer information on the most income tax-efficient method of doing so.