Step by Step Guide to Letting Your Property in Edinburgh

Author: Carol074 | Posted: 02.04.2012

When letting property to rent in Edinburgh, first impression of the property counts big time. It is important that the property should look good to the potential tenants. You will only be able to get best price for your property to rent in Edinburgh if your house looks well maintained internally and externally for all the viewings. For example, if there is a garden, it should be cleaned up. There are also a number of other standards set by law. The property to rent in Edinburgh must be in accordance with these legal requirements before it can be made available for letting. These include gas, electrical equipment and furniture safety standards. Hence, as a landlord you must make sure that the property along with its contents is in compliance with these regulations.

Taking deposit

As a potential landlord you must belong to a particular authorized scheme. This will protect the deposit throughout the tenancy period. Moreover, at the end of the tenancy it will deal quickly with its return or any dispute that will occur. You must provide details of your particular scheme to the tenant within 14 days of their handing you the deposit.

Managing the property

There are two ways to manage your Edinburgh flats to rent, you can either do it yourself or hire an agent to manage and market for your property. Doing it personally, however, involves a lot of hassle. According to research, majority of landlords hand over this task to qualified and dedicated agents and take advantage of their expert knowledge of the local market. You will also not be required to deal directly with potential tenants. An agent will not only filter suitable tenants for you but will also negotiate with them and arrange for viewings.

Letting the property

Once you have found your tenants, the next step is to enter into an agreement. In order to manage your Edinburgh flats to rent, you can hire a managing agent to do it on your behalf or you can do the entire thing on your own. The managing agent will provide you with professional advice and guidance throughout the term of the tenancy, create inventories, collect rent, arrange for repairs etc.

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