The Tenancy Deposit Scheme is a scheme designed to safeguard Tenants Deposits by placing them with a third party. The regulations can be viewed here.
The Scheme launch date is the 2nd July 2012
We are using SafeDeposits Scotland
Any Tenancy Deposit accepted by an Agent/Landlord will have to be deposited into the approved scheme. The Deposit will then be kept by the scheme administrator. Landlord Registration Numbers are required for submission, if you have not registered then please do so immediately at LandLord Registration Scotland
You will be asked for the Agents Registration Number – in our case it is:
The simple answer is YES.
No, there will be no charge to Agents/Landlords in relation to the operation of the Tenancy Deposit Scheme.
Yes Landlords can view the Scheme’s Terms and Conditions on the Scottish Government Website. SafeDeposits Scotland is a Company Limited by Guarantee (registered number 405020) whose registered offices are at 95 Bothwell Street, Glasgow, G2 7SU.
At the end of the Tenancy an application can be made specifying the amount to be withheld from the Deposit. The Tenant will be notified of the application and given 30 days to respond, either to agree the application or dispute the calculations. If the tenant fails to respond the monies due to the Landlord are transferred.
Any dispute over the calculation of a deposit can be referred to an independent Adjudicator who will then make the decision. If the Landlord is unhappy with the decision he/she can request a review by another Adjudicator however any decision carried out following this review will be final.
No. The decision of the Adjudicator following the review will be final. There is no provision in the Regulations for the Agent/Landlord to appeal to the Court.
The Landlord has no recourse through the Courts. The Tenant has a right to raise an action in the Sheriff Court if a Landlord has not complied with his/her duties under the Regulations. Such an application must be made no later than 3 months after the tenancy has ended.
Get our guide to the Tenancy Deposit Scheme as a PDF.
Are you getting the most out of your property? The standard of rental property in Edinburgh is constantly improving. Traditional tenement flats are now competing with brand new properties. Let our Maintenance Department get yours up to scratch.
Littlejohns will advise on what improvements will add value, carry these out and can even provide furnishings for your property. Our strong management skills and contacts with all maintenance trades mean that work will be carried out smoothly and efficiently so that your property is vacant for the shortest time possible.
Do get in touch with us today to find out more.
Houses in Multiple Occupancy (HMO) legislation applies to all properties with 3 or more unrelated tenants. There are certain rules and regulations to which properties meeting this description must adhere. Full details of these regulations are available from the City of Edinburgh Council.
You can also obtain more information from our associate company HMOaction. Here you will find details of alterations that you may need to undertake to comply with HMO regulations.
To comply with EU legislation all rental properties marketed in Scotland must have a valid Energy Performance Certificate (EPC).
The certificate gives a rating, similar to what you find on white goods etc, showing its energy efficiency and its environmental impact on a scale of A to G in a graph form, where A is most efficient and G the least efficient.
The certificate also recommends ways to improve the property’s energy performance to help save energy, reduce bills and cut carbon dioxide emissions.
The cost of a certificate is in the region of £80 plus vat. The certificate is valid for rental purposes for 10 years but properties should be re-assessed sooner if energy saving improvements are carried out, such as the installation of a new boiler.
It is good letting practice and will improve your property’s EPC rating if you can provide a basic level of thermal insulation and where necessary draught insulation of doors and windows and lagging of hot water pipes and immersion heaters.
The Tenant must be able to heat your property to a reasonable temperature and at a reasonable cost so there should be an efficient and economical heating supply and hot water supply.
Use our knowledge and expertise to help you decide on the right type of property in the right area. We know the rental market and are experienced in predicting market trends. We really can help you to make the best choice and maximise your rental income.
Fees for the services of our Property Manager are agreed on an individual basis according to your needs. Our services include sourcing suitable properties for you to view and helping ensure that your chosen property is correctly presented and meets all safety regulations.
Get in touch with us today to find out more.
The Non-resident Scheme is a scheme for taxing the UK rental income of non-resident Landlords.
The term ‘ non-resident landlords’ include individuals, companies and trustees who have:
The scheme requires UK Letting Agents to deduct Basic Rate Tax ( currently 22% ) from any rent collected for non- resident landlords, if non-resident Landlords do not have a UK Letting Agent acting for them or if a ‘let only’ service is provided, and the rent is more than £100.00 per week, their tenants must deduct the tax. In calculating the amount to tax, the letting agent or tenants take into account any allowable deductible expenses they pay in the quarter.
For non-resident Landlords to be able to receive rents with no tax deducted, they must successfully apply to the Inland Revenue for approval. If successful, a notice of approval will be sent to the non-resident Landlord and a separate notice sent to us, the Letting Agent, authorising us to pay rent without deducting tax. Please note that even though rent may be paid with no tax deducted it is still liable to tax and therefore must be included in any tax return.
For further information and to download an application form please visit HMRC.