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Local Property News For Landlords – ‘Creeping It Real’ (Halloween Pun Alert)

The Scottish Property Rental Market – Post Pandemic

I don’t think there has ever been a time in the property rental market where the phrase ‘demand outstripping supply’ has been more accurate! This imbalance could look set to continue over the coming months, underpinning further rent rises.

On another note, the next two years will see significant changes to private renting in Scotland, due to the planned ‘transformation of the ‘private rented sector’ by the Scottish National Party.  A 50-page agreement between the SNP and the Scottish Greens has been announced with the main objective ‘to create more affordable homes and a new deal for tenants.

As part of the ‘Rented Sector Strategy’ it will:

  • Create a new housing regulator for the private rented sector to improve standards and enforce tenants’ rights
  • Enhance tenants’ rights, including through greater restrictions on evictions over winter, providing additional security for tenants
  • Introduce new rights for tenants, for example giving tenants greater flexibility, such as, keeping pets
  • Put in place additional penalties and compensation for illegal evictions
  • Implement a national system of rent controls

All of this, along with the further planned EPC regulations, which in part will:

  • Require home and building upgrades at the point of sale, change of tenancy, and refurbishment to meet at least EPC C standards or equivalent, on a mandatory basis, from 2025 onwards. To ensure the approach is fair, and to avoid unintended consequences, this will be subject to a detailed consultation in 2022 and supported by an upscaled grants and advisory service. As a backstop, and to ensure we meet our climate targets, we will require all homes to be upgraded by 2033.

Will all of these changes force Landlords to look at the viability of their buy-to-let investments?!  We think so. But it’s hopefully not all ‘doom and gloom’.

The private rental sector has already supported many government legislative changes, such as the new ‘private residential tenancy which came into effect on the 1st December 2017 .  This model tenancy was implemented allowing tenants more secure of tenure.  What more security is needed, some may ask.

Some also may say that if the government focussed more of their attention on the rogue landlords and rogues agents there would be no need to implement a strategy where it is likely a lot of decent landlords will jump ship and the decent agents will find it hard convincing their landlords to hold onto their investments, all the while the ‘rogues’ will be left doing what they do best; ripping off tenants, carrying out letting agency work without a proper letting agent license and well, you catch my drift!

With all this being said, reform of any kind takes time, even years!  It would be easy to focus on the negative and feel disillusioned by the future of the property rental market, however, we’ve worked in this erratic industry for a very long time and there has always been big demand from investors and tenants.  We believe that the low-mid market will continue to do well, and the benefit of spreading your investment across multiple smaller properties means you minimise the risk factor, or could that be “Witchful thinking.”  If you’re in it for the long term, hang around, unless it becomes unviable!

Spook-tacular Buy-To-Let Investments

Buy To Let Investors – Tenants are still keen on tenement-living

Demand for housing offering outdoor space has certainly increased, more so during the height of the pandemic, however, not all tenants have the affordability to rent bigger homes.

We have seen huge demand for one and two bedroom properties, mostly within the Dundee and Newport on Tay area. Prospective tenants rarely ask about outdoor space when it comes to searching for these types of properties. Tenants appear to be more interested in the rent amount and comfort of the home. 

Check out these buy-to-let deals which could achieve gross rental yields of around 8%.

Agent: Thorntons
https://lnkd.in/dA9Vp2Dn

Agent: Lawson, Coull & Duncan
https://lnkd.in/dXtke5zp

Agent: Lawson, Coull & Duncan
https://lnkd.in/dzvJhFh2

Agent: RSB Lindsays
https://lnkd.in/dHuEgUJF

Agent: Remax
https://lnkd.in/dzUjHnVN

If you wish discuss any investment opportunities with us, we would be happy to chat. You can call our office on 01382 54054 or drop us an email at info@iletonline.com 

 

Changing our article focus to ‘Hocus Pocus’ 

What’s more fun at Halloween than carving pumpkins, dooking for apples or trick or treating?!  Well, for us adults working in the property sector, whats more exciting than trawling the internet to find some haunted houses for rent!  And what a trick or treat we have in store for you.  Now, for you ‘lazy bones’, sit back, click away and consider your next haunted-house airbnb stay, right her in the UK!  . . . This listing caught our eye . . .

Haunted Bedroom in Extraordinary Home

Do you think you could survive a night in a master bedroom haunted by a seven-year-old Edwardian child?  If the answer is yes, then this extraordinarily designed home could be right up your street. The haunted room is not the only thing this delightfully spooky home has to offer.  

An ex-council house transformed by owner John Trevellian, Talliston House & Gardens is located in the historic town of Great Dunmow, which dates back to Roman Times.

The description and photos on the airbnb listing should be enough to tempt those lovers of Art Nouveau-style (and nightmarish splendour).  Guests also have access to all the rooms in the main house to explore for the duration of their stay. These include a Victorian living and dining room, Japanese teahouse, New Orleans kitchen and Boathouse bathroom. 

This is a great example of how an “Ordinary House’ can be transformed into one of ‘Britains’ Most Extraordinary Homes’.

Check out all three airbnb listings here: 

The Haunted Bedroom at Talliston

The Cabin at Talliston

The Room of Dreams at Talliston 

 

Looking for a short-stay holiday close to Dundee and within easy commute to St Andrews and Edinburgh?

We now offer three apartments locally, each one offering a slightly different style, and view of the River Tay!

In easy commute to Dundee, St Andrews and Edinburgh, the location of these apartments would suit a variety of travellers.  You may not wish to travel far when you visit our lovely village though 🙂

Locally you can find nice walks and spectacular sunrise and sunset views.  With a variety of local hub spots such as the beautiful Tatha gallery, a local yoga studio (Yoga on Tay), two great cafes, a popular bakery (huge demand for their delicious cakes), a local grocery, a hair and beauty salon, and a variety of other local services.

Take a stroll along the river (or challenge the Fife Coastal Path), or visit Tentsmuir Forest and it’s ever-expanding beach.  Tentsmuir is also a great place for cycling too!

If you are planning a visit to St Andrews, then you really should consider a stop over at the infamous ‘Balgove Larder‘.  They have a great farm shop offering lots of Scottish delicacies, homeware, a butcher, a lovely cafe, and a steak barn which offers only the best locally produced meat.  Indoor and outdoor dining is available. Pets welcome (outdoor) 🙂

Click here to check out our listings Airbnb

You can also book our short-stay apartments direct by calling Nykky on +447892 891116 or email nykkybanks@iletonline.com

Have a fang-tastic Halloween!

 

 

Article written by Nykky Danielewicz (Banks) recently married.