Going up or going down?

Is there a negative trend for rents achieved by private property in Edinburgh? Some property managers seem to feel the pressure of more property becoming available and rents not continuously growing anymore.

In our experience, rents in the capital are stable or growing, depending on the type of property on offer. On average, our larger (3 bedrooms and more) properties achieved a 3% growth in rent while one and 2 bedroom properties stayed at the same rate or showed a smaller increase.

Watch this space for Citylets’ quarterly figures which are due out shortly….

Making property a long(er)-term game

The Scottish government is today embarking on a review of the private lettings market with a view to creating a more long-term culture, both for tenancies and for property investors and landlords. Germany has been cited as an example. Over the next few weeks, property managers such as Cullen will be consulted and we look forward to contributing our views and sharing our experience to help the process.

Click here for more information and follow our blog for regular updates.

First Scottish presence at Property Investor Show

The Cullen Property team is off to London later this month for the Property Investor Show. We'll be the only independent Scottish exhibitor at the show at London's ExCeL centre on 19 and 20 April. If you're in town and have any questions, please join us at stand 82. You can also make an appointment in advance by phoning the team on 0131 221 1818 or emailing Operations Director Steve Coyle.

Don’t get caught out with tenants in rent arrears

As a landlord, safeguarding your property investment starts by making sure rent is paid each month. A good letting agent will ensure tenants set up regular payments such as standing orders or ideally direct debits, but in reality the work starts much earlier – by making sure the new tenant(s) can afford the flat.
 
At Cullen Property, we operate some of the industry’s most stringent checking procedures before a tenant signs a lease: 

·        Professionals must earn at least three times their share of the annual rent of the property

·        Students have to provide a UK-based guarantor or pay the equivalent of three months’ rent as a security rent

·        All prospective tenants must provide solid employer and previous landlord references as a minimum and everyone is subject to a credit check

The result? No tenants in arrears, no evictions – and happy landlords.

Whilst across the industry problems with arrears are growing - mostly due to economic circumstances - our managed properties are experiencing continuously high demand from reliable tenants.