At Cullen Property, we want to make renting, investing and Edinburgh property management as easy as possible. This is why we’ve compiled a list of FAQs with answers for your convenience. If you have any questions that are not covered here, please do not hesitate to get in touch.
At Cullen Property we look after your Edinburgh letting property as if it were our own.
First and foremost, this means finding and letting it to reliable tenants at the highest achievable rent. At the same time, we ensure that your Edinburgh rental property is checked regularly and any maintenance issues or repairs are taken care of in the most cost effective way possible.
We will make sure that the rent is being collected and sent to you without having to chase it, and we’ll keep you informed along the way.
There are many property legal responsibilities you do have to consider. However, at Cullen Property, we handle the whole investment process for you.
This includes sourcing and presenting properties to you, as well as introducing you to lawyers (you may already have your own preferred Scottish based lawyer), banks, IFAs and other sources of finance, and tax experts. Once your investment property has been purchased and is ready to be let, our full management service ensures you adhere to all relevant rules and regulations and are fully compliant with the legal responsibilities of being a landlord.
Please contact our investor team on 0131 221 1818 to discuss your individual circumstances.
Convenience, compliance and returns……….!
We regularly re-assess rent performances (minimum annually at renewal/rent increases) to ensure market rents are being received, whereas we often meet private landlords who have let rents become static for several years. This can be quite significant, especially given some Edinburgh rents have increased by over 30% in the last five years.
Compliance with all regulations is a constant challenge for the Private Rented Sector industry generally, but especially for private landlords who may not always be able to keep up to date with the latest legislation changes. For example, the new Private Residential Tenancy regime is still causing confusion for many private landlords, with a number most likely using leases which are no longer legally compliant.
Having minimal involvement with the property and tenants at arms-length via the agent, coupled with the administrative ease which a good agent can provide (e.g. annual summary for tax returns) all come under the ‘convenience’ banner which is particularly appealing to landlords who are distant or have busy family/working lives.
Finally, using an agent gives access to all the main property portals and a professional vetting and referencing service whenever the property needs to be re-marketed to new tenants.
We’ve recently helped several portfolio landlords to move their properties to under management. In each case they’ve seen the rise in rental income more than compensate for the management fees, whilst improving the properties where required and removing all the stress and hassle for them at the same time. For example, in one case the portfolio rents were £10,850 but market rents were £12,250, a 13% increase.
In the initial stages of buying or passing a property to an agent there is a lot of communication between landlord and agent, but minimally so once it is all set up and let to the first tenants. There are various pieces of information, forms and safety certificates involved in getting any property ‘tenant ready’. An agent must also carry out due diligence checks on any new landlord in terms of I.D. and proof of address etc so there is a degree of administration involved.
However, once tenants are in and settled landlords typically require very little further input and are usually ‘receiving’ information from us rather than needing to send us anything other than authority or questions on communications we have sent to them.
Absolutely not. We pride ourselves on our transparency, and detail exactly what our clients can expect in person, on phone or email and in our terms of business. This means we don’t advertise low property management fees and rope you into ongoing hidden fees later down the line. What you get is great service you can trust with transparent and reliable costs!