Frequently Asked Questions

We’ve pitched our fees to cover the time we spend on providing diligent attention to detail, keeping the properties almost constantly occupied and landlord maintenance costs to the minimum. We’re not VAT registered, which amounts to a considerable saving in comparison against many of our competitor’s fees & expenses.

PROPERTY SETUP

£100 to cover the cost of our property prepping advice, a photo-shoot and preparation of suitably tailored advertising.

LET ONLY

50% of first month’s rent irrespective of how long a lease is negotiated (6 months minimum).

LET ONLY & RENT COLLECTION

10% of rent.

FULL MANAGEMENT

15% of rent.

DISCOUNTS

Edinburgh Ski Club members qualify for free property setup and introductory 12.5% of rent for our Full Management Service for the period of the first tenancy.

In the last decade there have been many changes to lettings regulations and the main ones affecting all Scottish rented properties are listed below. We aim to ensure that all Nichols Associates properties are safe and comply with the current lettings regulations but that can have significant cost implications for some landlords. Where costs must be incurred we have negotiated competitive rates for services with our tried and tested trade contractors. These fees can be deducted from rental income and already include VAT where applicable.

Scottish Landlord Registration

Each landlord applying for registration pays a principal fee of £55 to the local authority in which they apply and a property fee of £11 for each property registered.

It is a legal requirement in Scotland for all landlords to be registered with the local government.

Where an application is made using the online system at https://www.landlordregistrationscotland.gov.uk a 10% discount will be provided. For support to use the online system or to complete a paper based application Edinburgh Landlords can contact the Landlord Registration Team, City of Edinburgh Council, Level 3, Chesser House, 500 Gorgie Road, Edinburgh, EH11 3YJ, Telephone: 0131 469 5293, Email: landlordregistration@edinburgh.gov.uk

EU Energy Performance Directive 2009

EPC including laminated certificate for flat info file £40

From January 4, 2009, all EU member states had an obligation under the Energy Performance of Buildings Directive (EPBD) to promote improvement in the energy performance of new and existing buildings. This introduced a requirement for landlords to provide an Energy Performance Certificate (EPC) to any prospective buyer or tenant of a property. An EPC is a document which states the energy efficiency of a building based on the standardised way the building is used and provides the building owner with a number of ways in which the efficiency could be improved. The certificates are valid for 10 years and must be displayed within the rented property BEFORE the property is advertised for let.

Gas Safety (Installation and Use) Regulations 1998

Annual GAS service & safety certificate for £7 per month OR
Full GAS Maintenance Contract including annual service, certificate & any repairs for £14 per month.

These regulations deal with the installation, maintenance and use of gas appliances, fittings and flues in domestic and certain commercial premises. They place duties on landlords to ensure that gas appliances, fittings and flues provided for tenants use are safe.

In practice this requires Landlords to obtain an annual gas safety certificate by a specialist gas engineer. If a gas central heating boiler is over 10 years old we recommend a full gas maintenance contract for complete peace of mind and insurance against breakdowns.

The Electrical Equipment Regulations 1994

PAT Electrical Portable Appliance Test £40 p.a. (annually)
PIR Electrical Periodic Inspection Report of the fixed wiring £100 (every three years)

These regulations state that all electrical appliances or equipment supplied in the course of business must be safe. This applies to all appliances supplied in rented accommodation. In order for the property to be fully accredited with Landlord Accreditation Scotland, the following electrical tests are required.

Smoke Alarms Guidance 2007

Guidance was issued for the Housing Act 2006 Repairing Standard with effect from 3 September 2007 which included special provisions for smoke alarms. It stated that there should normally be at least one smoke alarm on each floor of a rented property. If there are multiple alarms, they should be interlinked. Although it is best practice to install mains powered smoke alarms, an existing smoke alarm may be battery powered. However, a smoke alarm installed from 3 September 2007 onwards must be mains powered and this includes replacement alarms.

Where necessary these works would normally be combined with the initial electrical safety tests to save our landlords unnecessary duplicate call-out fees.

Fire & Furnishings (Fire) (Safety) Regulations 1988

These regulations were introduced to ensure that all newly produced furniture, furnishings and other products containing upholstery had the adequate level of fire resistance. They apply to beds, headboards of beds and mattresses, sofa-beds, futons and other convertibles, nursery furniture, garden furniture suitable for use indoors, scatter cushions and seat pads, pillows, and covers for furniture. These regulations do not apply to furniture made before 1950, bed-clothes including duvets, loose covers for mattresses, pillowcases, curtains, carpets or sleeping bags. Nichols Associates will check each item of landlord provided furnishings to ensure that they do have a label attached stating compliance with the regulations. There is no additional setup cost for this service other than perhaps the replacement cost of any old furniture or mattresses (pre-1988) found not to comply.

The Fire Safety (Scotland) Regulations 2006

FSRA Fire Safety Risk Assessment £50 (with each HMO licence application)

These Regulations placed a requirement for a Fire Safety Risk Assessment to be carried out and the outcomes recorded for properties where a licence or registration is required in relation to the property. Therefore any properties being rented to 3 or more individuals which require a House of Multiple Occupancy Licence also require a Fire Safety Risk Assessment.

Conversions to Houses of Multiple Occupancy (HMO’s)

HMO Project Management Fees £20/hour or 10% of value of works

Nichols Associates are very experienced in the Scottish HMO regulations and have overseen the conversion of several properties. If you have a property with 3 or more bedrooms, we can advise you from the outset as to the likely cost of complying with HMO legislation as well as the different rents you might expect from renting it to:

• a group of individuals, typically students (HMO)
• individual room lets, typically working professionals (HMO)
• a single family (not HMO)
• a couple plus one individual (not HMO)
• or two couples (not HMO)

We will respect your wishes and provide you with as much information as possible to allow you to make an informed choice. If you do decide to enter the HMO market Nichols Associates can project manage the entire process for you. If you would like more information on Scottish HMO regulations to find out what’s required in detail you can find them on the Scottish Government web site using the link below.

http://www.scotland.gov.uk/Topics/Built-Environment/Housing/PrivateRenting/16501

Accreditation is an excellent way of giving good Letting Agents public recognition and helping tenants in seeking safe, secure and good quality accommodation to rent. The Lettings Industry Best Practice followed by Nichols Associates is set out in the Scottish Core Standards for Accredited Landlords.

We are Letting Agent members of Landlord Accreditation Scotland (LAS) and the Scottish Association of Landlords (SAL). As such we comply with a higher Code of Practice than current laws require and thus benefit from:

• the status of being publicly identified as a good agent
• distancing ourselves from incompetent or unscrupulous agents
• being attractive to tenants who place emphasis on good quality and well managed accommodation
• being up-to-date on new legislation or policies affecting the private rented sector
• having access to training and legal advice from housing professionals

For more information about the various accreditation schemes that we support please refer to:

http://www.landlordaccreditationscotland.com/
http://www.scottishlandlords.com/

For landlords based in the UK all letting fees and expenses are deductable from the rent for tax purposes. We can recommend an Accountant who can advise you regarding all allowable deductions and expenses.

Overseas landlords must complete the NRL1 from www.hmrc.gov.uk to apply to have his or her UK rental income paid without deduction of UK tax.

The Repairing Standard, contained in the Housing (Scotland) Act 2006, came into effect in September 2007. It brings together and extends slightly the existing statutory and contractual repairing obligations of private landlords. It also applies to some tenancies of social landlords, for example, tied houses (housing provided by an employer).

The landlord must ensure the house is wind and water tight and reasonably fit for human habitation. The structure and exterior, various installations, fixtures, fittings and appliances must be satisfactory. Furnishings provided must be safe. Smoke alarms are also required. Now landlords have to inform tenants in writing about the Standard before the start of any new tenancy.

If the tenant notifies the landlord that the house does not meet the Standard, the landlord has a duty to carry out necessary work within a reasonable time. It is now easier for private tenants to make sure their landlord complies with their repair obligations. Instead of going to court, tenants will be able to apply to the Private Rented Housing Panel. We’re happy to report that this has never happened to a property managed by Nichols Associates and we hope it never will. We pride ourselves on responding to tenant maintenance matters promptly and efficiently, whilst also ensuring careful cost control and good value repairs for landlords.