Citylets have recently published their Quarterly Report, which can be read in full by clicking below. Watt Property are not surprised to hear that Edinburgh has overtaken Aberdeen as the most expensive city to rent and indicators suggest that it has no intention of falling from this lead. The market continues to be buoyant and […]
A big hello to our clients this month from all the staff at Watt Property and Birthday Wishes to Marlene, who celebrated her birthday earlier this week in the office.
I hope the onset of the winter weather and dark nights isn’t too depressing for our UK landlords and that our non-UK friends are enjoying milder and calmer weather than Edinburgh is just now.
As I write this my youngest is preparing her pumpkin for Halloween and has her costume all prepared for “trick or treating”, or “guising” as we say in Edinburgh, at the weekend. As soon as we recover from Halloween we will be straight into enjoying bonfire and firework displays, but behind the scenes I’m preparing my Christmas to do list and, more importantly, finances! Hopefully the Time Management Course that Marlene & I attended last week will help me with that and I’ve already started to implement some changes in the office environment, which should mean I can concentrate on our clients more now than ever before!
I’m sure you are now all aware of the Legionnaires Disease/Risk Assessments that have to be carried out on residential let properties now and I’m pleased to see this week that The Health & Safety Executive (HSE) have updated their position to confirm that it isn’t necessary for landlords to test the water for the bacteria, but simply to minimise the risk of tenants contracting the disease. I have prepared a more formal blog with links to more information on a separate post and a copy of the blog link is below for your information. Most of our landlords now have their Assessments in place, but I will be in touch with you directly if we are still looking to implement an Assessment for your property.
As always, if you have any queries relating to your property please don’t hesitate to contact us.
Legionnaires Disease and Risk Assessment Duties
Our landlords are probably now all fully aware that they hold a legal duty to carry out a risk assessment in terms of Legionnaires Disease in rented properties.
More information on landlord’s responsibilities can be found using the undernoted link and we would refer you specifically to the header “Who can assess the risk?”. It has been unclear for some time now as to what is considered to be an appropriate level of testing for private residential let properties. On considering the information within The Health & Safety Executive (HSE) website it is fair to say that the majority of landlords are competent to carry out the Risk Assessment for their own properties, without having to involve specialist firms to do this for them.
At Watt Property we do have a contractor who is happy to provide a Risk Assessment on behalf of our landlords for a charge of less than £50 per property. However, we are also able to provide you with template Risk Assessment Forms to allow you to carry out the Assessment in your own time.
All residential let properties now require this Assessment to be in place and once in place we will ensure that the annual review is carried out during our routine inspections at no extra cost to you.
Please contact Pauline or Marlene of our office to request a template form or provide instructions for our contractor to attend to this on your behalf.
Watt Property – September 15 Update
The summer holiday season is officially over and we’re all refreshed and raring to go! It’s great to have a full complement of staff back in the office and we have lots to be looking forward to…. keep reading to find out more…..
…..First the informative bit….
Tax on Rental Income
I’ve managed to catch up with a few of our existing and new clients over the past few weeks and one question that has been asked a few times now is “do I have to declare my rental income to the tax office?”. The quick answer is yes, but I have copied below a link to a very detailed explanation on the tax implications in relation to rental income on residential properties. If you have any questions on this please don’t hesitate to contact either myself or Angela.
We are also more than happy to introduce you to a firm of Accountants, who we have been working with for a number of years now, and who would be delighted to offer a personal tax return preparation service to our clients if you would like more guidance and assistance in this area.
Watt Property are the Proud new owners of
5A Giles Street, Edinburgh!
We are extremely delighted to advise all our clients that we have purchased a new office, which is going to give us so much more room to expand and most importantly to meet with our clients. As some of you will be aware we are falling over ourselves in our Duke Street office as it is a bit on the small side for us now, with poor Angela having to jump up from her desk each time we have to hold a client or tenant meeting. Her office is not only the meeting room, but also the staff room at lunch time! Not for much longer though, our new premises will have lots of space for staff members, including a training room and a separate meeting room. It’s going to be a few months before we are ready to make the move from Duke Street to Giles Street, but we’ll keep you updated with progress and look forward to sending you all an invite to our official opening when the time comes. The location is excellent, being only a short walk from The Shore and just round the corner from Mimi’s Bakehouse (mmmmm……coffee break will be superb!). Watch this space for a progress report !
Angela Watt and Pauline Smith of Watt Property attended the Annual Agency Conference at Hampden Park, Glasgow in May 2015. Take a look at the video below to see some of the highlights of the event….you may even spot someone you know!
Citylets have recently issued the Quarterly Rental Report, which can be viewed using the following link
The Agency Conference
Angela & Pauline of the office recently attended the Council of Lettings Agents Annual Conference in Hampden Park, Glasgow. It was extremely well attended and the variety of speakers and information made available was excellent. The morning sessions focused on the proposed changes to the PRS in Scotland and we heard from Policy Team Members within the Scottish Government on what the changes could mean for Letting Agents and their clients. The morning session ended with a surprisingly upbeat and even comedic, at times, talk from Andrew Cowan, of TC Young Solicitors. Andrew talked of how the Repossession system could work under the new Regime, which we’re sure everyone in attendance found very helpful and informative.
More information on the CLA’s involvement and policies relating to the changes within the PRS can be found below.