Staying legal with let properties

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2015 will be the year of change for landlords across Scotland. Current changes to legislation and impending changes to tenancy agreements mean it is getting harder for landlords to keep ahead of all the legislative and regulatory demands imposed on the lettings sector.

The latest being changes to the minimum smoke alarm requirements as amended from the 2007 guidance, installation of carbon monoxide alarms in certain properties and full electrical inspections are to become a legal requirement and not just a recommendation.

Not to mention the Energy Performance Certificates, Tenant Information Packs and Tenancy Deposit Schemes which are all legal requirements and all carry large penalties for non-compliance.

Letting Agents will also not get away unscathed as they will have to comply with the proposed Letting Agents Registration and the associated training programme.

FBR are registered agents in the Borders and East Lothian (landlord registration is not required in England) and are also accredited with Landlord Accreditation Scotland (LAS).

For large residential developments, they are registered property factors and their Property Manager Lois Renton is a member of the National Landlords Association (NLA).

FBR provides two types of service for landlords wishing to rent out a property: let only, and a full managed service. Their aim is to manage the landlord/tenant relationship smoothly and reliably to ensure you, your property and your tenancy comply with all legislation and associated guidance.

The fees are very competitive and negotiable for landlords who may have several properties in their portfolio.

For a ‘managed’ service FBR let the property and during the tenancy provide a principal point of contact for the tenant and landlord.

The service includes:

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z Assessment of the vacant property for possible repairing standard issues and rental valuation

z All forms of advertising

z Dealing with applications from prospective tenants, arranging viewings and referencing

z Pre-tenancy paperwork

z Preparation of the tenancy agreement

z Issuing the Tenants’ Information Pack

z Preparation of a full photographic inventory (a requirement of the Tenancy Deposit Scheme)

z Handover to the new tenant

z Notifying utilities and Local Authorities

z Lodgement of the deposit with a TDS and issuing the required information

z Annual inspection to assess condition of the property

z Annual rent review

z Action repairs and maintenance

If you are an existing or prospective landlord and require further information or guidance on the issues facing the private rented sector, contact Lois Renton, Property Manager, or Helen Bader, Property Administrator, in Kelso on 01573 224381.

If you are looking to rent, FBR’s property team have extensive experience in letting, and are available to help any prospective tenants.

FBR will arrange mutually convenient times for viewing, and will guide you through the letting process.

If you cannot find a property on FBR’s website that suits your needs, please call a member of their property team, who will be happy to take the details of your requirements and contact you if a suitable property becomes available.

All FBR landlords are registered with Landlord Registration Scotland, and FBR are committed to good practice as accredited letting agents with Landlord Accreditation Scotland.