Is it worth letting my flat out (Scotland)

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    #16
    Originally posted by MdeB View Post

    There is an interesting article on this here: https://nearlylegal.co.uk/2019/09/...landlords-tax/
    Not really.

    It's hardly a revelation, landlords have been dealing with this for years.

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      #17
      I ended up letting my property. I've been offered a 5 year contract and with my visa I ended up going for I should be able to apply for citizenship in 4 years, well a bit less than that now. Letting the property seemed to make sense, I found a letting agent who seemed good and the tenant I went for is a keyworker.

      I knew I would need a smoke detector fitted in the living room and a heat detector fitted in the kitchen to comply with Scottish housing legislation. I already had a wired smoke detector fitted in the hallway last year whilst I was having some other electrical work done and there was an existing a fulling functioning hard wired CO detector in the hallway as well. I also had a FireAngel battery powered CO detector in the kitchen, on top of the boiler which is the only gas appliance in the property.

      I have received an invoice for £441.60 to fit the two detectors in the living room and kitchen and the contractor has gone and replaced the two functioning detectors in the hallway. I have queried it with the letting agent because a) it seems a lot, b) it's more than I authorised the letting agent to pay without my approval, and c) I'm not sure the hallway detectors needed replacing at all.

      What do other landlords think?
      Guidance for private sector landlords in Scotland on regulations relating to installation of fire detection and warning systems.

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        #18
        Tradesmen always make a meal of the simplest jobs. I've just paid £3k for a new consumer unit, which did not need doing, in London to 'comply with the regs'. It's just the cost of doing business, as the law forces you to take an oik's judgement on whether something needs doing.
        To save them chiming in, JPKeates, Theartfullodger, Boletus, Mindthegap, Macromia, Holy Cow & Ted.E.Bear think the opposite of me on almost every subject.

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          #19
          JKO What! £3k for a new consumer unit! I've been quoted £400 and thought that was high.

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            #20
            Originally posted by Berlingogirl View Post
            JKO What! £3k for a new consumer unit! I've been quoted £400 and thought that was high.
            Oh, well there were some ancillary items. (A working extractor fan needlessly replaced, and a tower required to access it. A few bathroom lights replaced with LED's as they weren't enclosed, etc, etc.)
            To save them chiming in, JPKeates, Theartfullodger, Boletus, Mindthegap, Macromia, Holy Cow & Ted.E.Bear think the opposite of me on almost every subject.

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              #21
              Over a year on and I think I've come to the conclusion that letting my former home out is not worth the hassle. The key worker tenant stayed for a year and caused some serious damage to furniture that the letting agency missed during check-out. Thankfully I was able to recover the money from the letting agency by threatening to take them to the FTT.

              Property was then empty for 3.5 months whilst letting agency pushed tenants who couldn't afford to rent it and the wasted a lot of time re-marketing too high. Sacked them, got a new agency, who did find tenants but they have only stayed for 3 months so with all the letting agency fees for setting up and ending a tenancy on top of the usual pound of flesh I'm not sure those 3 months have even washed their own face. Meanwhile I had to pay for a Airbnb to stay in during the festive period.

              Between the letting agency fees, voids, damage, and wear & tear I may as well not bother letting it again now especially as returning to Scotland later this year is a real prospect. Plus it means my mortgage interest will reduce by 1% when I remove the consent to let.

              Would I let property again? Yes, but not my former home, not whilst I'm on the other side of the world, and most likely not using a letting agency. You live and learn.

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                #22
                The market in Aberdeen has been horrible for the past few years, so you have had a bit of a headwind.

                I have been letting a property at a long distance for years. I don't really intend to continue doing it for much longer and have come to the conclusion that hands-off letting does not really work. I think the landlord has to be there.

                Residential property management seems a bit of an oddity in that typically you can be confident that a professional will not make a better job of it than you will, if you are of moderate intelligence and are prepared to put in some work. The same cannot be said of e.g. vehicle maintenance, commercial aviation, surgery, litigation, plumbing...
                There is a fine line between irony and stupidity. If I say something absurd please assume that I am being facetious.

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                  #23
                  The Aberdeen market has been pretty horrendous these last few years and I think both you and I have both found the letting agencies in this city to be chocolate teapots. I think the letting agencies had it too good during the boom time when demand for rental properties outstripped supply so any eejit could do it. Now their shortcomings are shining through.

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