Letting Agent Registration Update & More Legislation16 Oct 2018
You may be aware that as of 1st October 2018 any company acting as a letting agent or doing any “letting agency work” in Scotland had to be registered on the Register of Letting Agents. This register is supposed to ensure that every agent is suitable to do the job and has met minimum training requirements. All letting agents also have to adhere to the Letting Agents Code of Practice.
Fineholm’s Glasgow Licence: LARN1809025
To offer you some peace of mind, we can confirm that we adhere to both the code of practise and are also fully registered in Glasgow. Although we submitted our application for both companies together we are still waiting for the Edinburgh registration number to be released. However rest assured the application is submitted and we anticipate the approval number shortly!
Minimum standard requirement on EPC
For some time now, all rental properties in Scotland have required to display a valid Energy Performance Certificate (EPC) which shows the energy efficiency of the rental property and offers a tenant some guidance on what they can expect utility bills to be.
However as of 1st April 2019 where a property is being offered for a new tenancy, the minimum EPC rating must be band E or above. If it falls below band E, so F or G, then the landlord will have 6 months to bring it up to the minimum standard (normally band E).
As of 1st April 2022, the minimum standard will change to a band D and again if the property doesn’t meet the minimum standard, landlords will have to make changes to ensure the property becomes more energy efficient.
We will be working through our portfolio and advising landlords who require to make changes to ensure minimum standards are met.
A wee reminder – additional services we offer
The rental market in Glasgow and Edinburgh is booming and we are pleased to say the standard of rental properties coming to the market has never been higher.
That’s fantastic news but it does mean that as a landlord , you have to be aware that your property needs to be “kept up to scratch”. It also needs to be marketed well to ensure that we can find you the best possible tenant, paying the best rent we can ask, in the shortest time.
Property staging is key. We offer 2 newish tools which can help make sure your rental property stands out from the crowd:
1. Property Staging (from £60 inc VAT per property)
We add some finishing touches to a furnished property to make sure its feels appealing – it’s all about the soft furnishings now and making the property aspirational. We take a staging kit to the property, dress it and take new marketing shots, leave the kit there for viewings and then remove it before a tenant moves in – (obviously making it clear to any incoming tenant what items are being removed!)
Property Staging: adding a couple pillows and a plant freshens up the room immediately
We find this a fantastic way to make a tired rental property look fresh. Combined with a fresh coat of paint, it can also increase the rent we can ask and always reduces any possible void periods.
Example of Property Staging with before/after shots
2. Virtual Furnishings
Works extremely well for unfurnished properties to offer would be tenants some idea of how the property would look with furniture, it makes the property look so much more appealing than an empty box. This is one of our most effective tools as it increased viewer number significantly.
Above are a couple great examples. Our friends at Doctor Photo are so clever!
Cost is from £36 per photo.