Another busy month at the office with rental properties being snapped up as quickly as they are put on the market.

There’s been a good demand for 2 bedroom properties this month, with one of our properties being tenanted within 5 days of it becoming available on the market.

New Statements for July 15
Now that the end of the financial tax year for the office has come and gone we are having to make a change to our fee structure and as from next month VAT will be added to our fees. Your statement next month will include VAT as a separate entry to ensure clarity for your bookkeeping purposes. If you have any questions relating to this please contact either myself or Angela Watt directly.

Race for Life
The girls in the office are now into the final 2 week countdown of our Race for Life team challenge on 14th of June and we want to say a huge Thank You to everyone who has sent us through a donation so far.  We are almost tipping the £500 mark on our fundraising and would love to add a little more before the big day.  Anyone who would still like to add their donation, please click on the link below to reach our fundraising page.

https://www.justgiving.com/teams/watt-property-girls

Have you ever heard of that saying “Four Seasons in one day!” – well that’s exactly what we are experiencing in Edinburgh this week. We’ve had beautiful sunshine, rain, wind, hail and even snow all in the same day! Here’s hoping May is going to bring milder weather.

New Services

I’m pleased to be able to advise you that Angela has been very busy meeting new contacts this month and we now have the facility to refer you to a Financial Adviser as well as a Conveyancing Solicitor. Both of these contacts have a similar friendly, but professional, approach to their clients and we are certain that you will find their information valuable and their costs as competitive as our own. Please let myself or Angela know if you would like us to pass your details on to them at any time.

Gas Safety in Properties

I am quite sure that you are all very aware of the requirement to have your gas appliances in let properties inspected annually as part of your landlord obligations, however, you may not be aware that the Government have amended the Building Regulations in 2013 to ensure that a Carbon Monoxide Detector is required in properties when a boiler or other fixed heating appliance is replaced or upgraded. Having your best interests at heart we are installing detectors as they are inspected by Marlene. We are purchasing CMD’s in bulk now therefore we are able to provide these at completive costs for our clients. Marlene from our office is identifying on her inspections any properties that don’t have a unit in place and we are routinely adding these in and advising the tenants on how these should be tested. If your property is one of these we will simply deduct the cost of the unit from your next rent statement.

Useful Link;

You will likely be starting to look at your self assessment tax forms for this year and the link below will offer you helpful guidance on completing your forms.

HMRC tax guide to let property

http://www.hmrc.gov.uk/courses/syob2/letting/HTML/letting_menu.html

Watt Property Management wish all our clients and tenants the very best for Christmas & the New Year

Our office will be closed for the festive period from

5pm on 19th DECEMBER to 9.30am on 5th JANUARY 2015

We hope you enjoy our fun festive video from all the staff at Watt Property Management.

Our normal emergency service for our tenants will be in place throughout the festive period.

Angela & Pauline recently attended National Landlords Day which is organised by SAL and CLA.

A link to the programme can be found on the SAL website using the link below; https://www.scottishlandlords.com/Events/NationalLandlordDay.aspx

The event was extremely well attended as always and the main discussions throughout the day were in relation to the Scottish Government’s proposals for changes to the Private Rented Sector Tenancy system.

After listening to Andrew Cowan of TC Young’s opinion on the proposals it would seem that the biggest change is going to be to ending a tenancy. New grounds for repossession are being proposed, as noted below.

  1. landlord wants to sell the home
  2. mortgage lender wants to sell the home
  3. landlord wants to move into the home
  4. refurbishment
  5. change to the use of the home
  6. tenant failed to pay three full months’ rent
  7. tenant is anti-social
  8. tenant has otherwise breached the tenancy agreement

It is clear from the discussions that more clarification is required on how these grounds could be used in practice (for instance how do we define “anti-social”), but in our experience the most common reasons for repossession are generally covered in these new grounds and the majority of landlords should not be at any greater risk of ending a tenancy than under the current system.

Full details of the proposal can be found on the Scottish Government website using the undernoted link;
http://www.scotland.gov.uk/Publications/2014/10/9702/downloads

If after looking over the proposal you have any questions you would like our opinion on please get in touch with Angela or Pauline. You may also be interested to read SAL’s response to the proposal which can be viewed at; https://www.scottishlandlords.com/NewsPolicy/PolicyItem.aspx?ArticleId=222