RENTING with the BSPC

The Scottish Borders Solicitors Property Centres

	Renting with the BSPC:
	Rental Sector Buoyant		Excellent Long-Term Investment
	BSPC Dedicated Management Services for Landlords		The Secret to being a Good Landlord

RENTAL Sector Buoyant

While lack of mortgage availability and the current need for larger deposits to meet lower loan-to-values has dramatically affected the first and second time buyer market, it has kept the rental sector buoyant.

And according to the latest report from the Association of Residential Letting Agents (ARLA), demand for rental property will continue to outstrip supply – which is good news for landlords and anyone currently contemplating buying property as a rental investment.

BSPC Dedicated Management Services for Landlords

Given the complexity of leases, inventories, rent collection, emergency availability, repairs, inspections, safety legislation and more besides, becoming a landlord could be a full-time occupation – which is why so many landlords nowadays opt to have their property managed on their behalf by specialist letting professionals. Many BSPC member firms offer a dedicated management service for landlords who pay a monthly management fee and can then forget about it, knowing their investment is in safe hands.

Details of all rental properties are available in the BSPC Property Guide, the largest property publication in the Scottish Borders. Published fortnightly and available free of charge from retail outlets throughout the region, it is essential reading for anyone that is looking to buy or rent in the Borders. All sales and rental properties are also listed here on the BSPC website. View Property for Rent »

• The largest FREE fortnightly Property Guide in the Borders
• 10,000 printed every fortnight
• Full colour advertising with a choice of advert sizes
• Distributed to over 250 local outlets
• Distributed to SPC Centres throughout Scotland
• Subscriber mailing service for overseas buyers

If you are an existing landlord – or hoping to become one –
and would like more information on the benefits of using a BSPC member firm to manage your property, contact one of the firms listed.

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Excellent Long-Term Investment

Research shows 41% of young, low-to-middle earners currently live in privately rented accommodation, compared with 14% in 1988.

And this trend looks set to continue while mortgage funding and other constraints effectively bar entry to home ownership. Living at home with parents is one option but for young people who want to be independent the only other option is the private rented sector, which at present is unable to meet demand. In a nutshell, the country needs more good quality rental properties.

Buy to let can be an excellent long-term investment, one that is seen by many people as a safer option to stocks and shares and retirement schemes. However, there are many potential pitfalls, risks and legislative constraints, so research is vital, as is taking advice from those best qualified to give it – a BSPC member firm, many of which offer a dedicated rental management service to local landlords.

The criteria for purchasing a buy to let property is not necessarily the same as buying a house to live
in yourself, and as an empty property generates no income, it’s important to buy in an area where
demand will be highest. Location, size and condition are the starting point.

The last housing boom in 2007 saw more than a million people become landlords – often with no
prior knowledge or understanding of the market - purely as a way of making money fast from rising
house prices. And when house prices fell, many people lost substantial sums. Landlords who invest
wisely in today’s market do so for regular income rather than house price gains.

The Secret to being a Good Landlord

The secret to being a good landlord is the ability to look at a property with the eyes of a potential tenant. If the property is in an area close to a university or college, it will attract the student market. Students’ needs, however, can be different from other tenants in that they may want a shorter lease and are likely to want to share the accommodation with one or more students – multiple tenancy has another set of rules that makes taking professional advice essential.

If you would like more information on the benefits of using a BSPC member firm to manage your property, contact one of the firms listed.

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