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Procedure for Possession of Property in Edinburgh

By Tom Ashdown Subscribe to RSS | May 24th 2012 | Views:

To acquire an ideal property to rent in Edinburgh is a strenuous job that fulfills one needs, wants and demand. It is necessary to have in contact and bargain with different landlords and letting agents for having a property and it is unusually lengthy and chaotic process. Additionally, it is very vital and effortful task to go from place to place, gather information about the houses in Edinburgh then take final decision about the best chosen place. While looking forward to the houses in Edinburgh through an onsite survey one need to be very bold and determine it thoroughly and make sure that one’s family members feel at ease to have life in this house. When everything is according to strategy then the next move is to have a secured property of one’s own choice.

For a property to rent in Edinburgh one must has to pay holding fees or deposit. It is a fee that provides safety and protection to the buyer. The property that is to be taken on rent or held in reserve for any other will be charged by the landlord.

Now if one decides to rent the property in Edinburgh then he/she has to make a down payment to the owner of the property. The amount of that property has to be paid as holding fees can differ in accordance with the scenario and it all depends on the number of members that will use that property. The holding fees of that particular property which will be charged are equivalent to the value of six week rent. The owner of the property will issue a receipt in which all the payments of holding fee will be mentioned. This will further help as a proof against his/her paid holding fee. Currently the law of renting a property in Edinburgh put forwarded by the government of United Kingdom to provide protection to those citizens who are a tenant and to secure their deposits is also the duty of government. According to the rule, all the payments are made under Tenancy Deposit Scheme. It guarantees that landlords have to take a deposit from a tenant at the start of the tenancy. The purpose of the new rules and regulations is to make sure that the deposit is to be transferred to the scheme within 14day timescale and provide renter all the details of this scheme.

The agreement should include all the details of a person who guarantees to pay debt if he/she is on a default on a loan obligation. This agreement should be signed and given to the owner of the property. It is very necessary because if such a situation arises in which one can’t perform obligations then one’s guarantor will act as a so-signor and will ensure the landlord that he is accountable for all the rent that is not possible to be paid in time. One guarantor is person who fulfils his duties and has enough income so that he will not face any difficulty in giving the payments in near future. Ones parents’ guardian can be act as a guarantor if he/she is a student.

When one perform all the desired obligations then one have a right to move in to the next step of tenancy agreement so that one comes into possession of Edinburgh property. In this agreement all the terms and conditions are clearly mentioned and also the obligations that have to be fulfilled by both parties. All the conditions of renting a property in Edinburgh that are defined in the agreement should be reviewed by both parties before signing.

Tom Ashdown - About Author:
Tom Ashdown is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on edinburgh flats to rent, please visit flats to rent edinburgh.

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