How to become a Landlord in Scotland
We have created a simple landlord guide for anyone looking to buy a rental property in Scotland. There are a few things you need to know before you can market your property so we have put together everything you need to know all in one place in under 10 minutes!
We will cover the following in a little bit more detail, we have kept it very simple as the links on bullet point 6 will provide you with further information relevant to your circumstances.
- Register as a Landlord
- Obtain lender and owner consent
- Hold adequate insurance
- Obtain landlord safety certificates
- Using a Letting Agent
- Useful links attached
Register as a Landlord
It is a legal requirement to register as a Landlord with the local authority before you can advertise and let the property.
If you’re planning to rent your property out to 3 or more unrelated people, you will also need a House in Multiple Occupation (HMO) Licence
Obtain Lender & Owner Consent
You must obtain consent to let the property from any joint owners of the property and if the property is mortgaged, the lender. Some mortgages have terms and conditions therefore if you let your property without consulting them you might break your contract.
Hold adequate insurance
You must ensure you have appropriate buildings insurance for properties in a tenement. The importance of insuring your property correctly cannot be under estimated. Construction type of property, type of tenants, landlords contents and liability insurance to name a few.
If you are considering renting out your own residential property, it may have an impact on your existing Buildings & Contents insurance. You should discuss your plans to rent out your property with your insurer as they will give you advice on the most suitable cover.
Obtain Landlord Safety Certificates
There are certain safety regulations that must be met prior to and during the letting of your property. If required, Bridge Letting can arrange the following safety certificates on your behalf using our trusted local contractors;
- Gas Safety Certificate
- Electrical Installation Condition Report (EICR)
- Portable Appliance Test Certificate (PAT)
- Energy Performance Certificate (EPC)
- Legionnaires Risk Assessment
Using a Letting Agent
As fully accredited letting agents, we ensure that your rental property is always compliant with the current Scottish legislation.
We are a small team of qualified and experienced letting agents providing a personal service to our landlords and tenants. We know that the careful and attentive management of an investment property is most important to Landlords when choosing a letting agent.
Our full property management service suits landlords who want a hands-off approach.
This service includes:
- Collecting the rent and providing you with monthly statements
- Managing day-to-day tenant queries
- Arranging regular property inspections
- Arranging any maintenance work and safety certificate renewals
- Handling administration tasks associated with legislation updates
Under our Property Management Services, our Let Only & Tenant Find Service is suitable for Landlords who want to take on the day-to-day management of the property but need our help marketing the property effectively. Following the marketing and letting of your property, the first month’s rent and tenancy deposit is collected and credited to the Landlord less our agreed fee.
Useful Links
Scottish Landlord Register
Appling for HMO Licence
First-Tier Tribunal for Scotland
Citizens Advice Scotland
Energy Saving Trust
Office of the Gas and Electricity Markets (OfGem)
Safe Deposits Scotland
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