Top 10 tips for new landlords

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Top 10 tips for new landlords

• John Blackwood
• Director
• Scottish Association of Landlords

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Tip ONE

• Register with your Local Authority as a landlord.
• You can register online
• www.landlordregistrationscotland.gov.uk
• Cost is 55 plus 11 per property.

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Tip TWO

• Get advice before letting.
• Work out your landlord obligations.
• What are the pitfalls?

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Tip THREE

• Seek advice on obtaining a good tenancy
  agreement.
• www.edinburgh.gov.uk/letwise
• Dont reply on outdated documentation!
• Issue Notices, Repairing Standard Letter, AT5,
  Lease.

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Tip FOUR

• Work out your safety obligations
• Annual Landlords Gas Safety Certificate.
• Electrical Safety Certificate (PIR PAT).
• Fire Furnishings Safety Check.
• Fire/smoke detection system.
• Fixtures Fittings are fit for purpose.

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Tip FIVE

• Work out your repairing obligations
• Ensure property meets the Repairing Standard
  Housing (Scotland) Act 2006
• Provide tenants with guidance on how to access
  the PRHP and inform them on the Repairing
  Standard.
• Provide a clear statement to tenants on the
  condition of the property (inc. fixtures,
  fittings furnishing).

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Tip SIX

• Beware of your tax liability as a landlord!
• Liable to pay tax on profits made.
• Seek advice from a tax adviser.

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Tip SEVEN

• When placing adverts
• Be brief.
• Emphasise key accommodations.
• Dont exaggerate or mislead.
• Avoid over emphasising.
• Dont deter potential viewers (i.e. being vague
  on price or excluding individuals etc).

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The Consumer Protection (Distant Selling)
Regulations 2000
Applies where there is no physical contact
between Landlord/Landlords Agent Tenant prior
to the completion of the Tenancy Agreement.
If regulations apply
Cooling off period of 8 days following the
signing of Tenancy Agreement.
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SOLUTION
Insist on meeting the tenant prior to completing
the Tenancy Agreement.
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Tip EIGHT

• Reference tenants thoroughly and carry out a
  detailed inventory of fittings, fixtures
  furnishings.
• Model documents free to download on letwise
  website.

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Tip NINE

• Up your game and learn more about being a good
  landlord become an ACCREDITED LANDLORD!
• Landlord Accreditation Scotland
• www.landlordaccreditationscotland.com
• Edinburgh Landlord Accreditation
• www.edinburgh.gov.uk/ela

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Tip TEN

• Join a landlords organisation and be kept up to
  date with changes in legislation and network with
  other landlords.
• Scottish Association of Landlords
• www.scottishlandlords.com
• 0131 270 4774