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Glasgow Letting: New Landlords, Read This

Discover everything you need to know about Glasgow letting for first-time landlords.

Perhaps you’ve moved in with a partner and you don’t want to sell your property. Or maybe you’ve had to relocate temporarily for work and you want to hang on to your investment. Either way, if you’re thinking of letting out your Glasgow property for the first time, this one’s for you. 

Here, we lay out the steps you need to take before you become a landlord, and what you need to do once you’ve found your tenants. 

New to Glasgow letting? What you need to do before renting out your home

One of the first things you need to do before you rent out your home is to make sure your mortgage lender allows it. 

You’ll need to ask for “consent to let” (which is typically for a set amount of time) or you may need to switch to a buy-to-let mortgage. Otherwise, you run the risk of breaching your mortgage contract, and this could result in your lender demanding instant repayment of the full mortgage balance.

Next, you’ll need to contact your insurance provider and amend your policy to include landlord insurance. Having tenants living in your property can affect your liability. 

You must also register as a private landlord with the Scottish Landlord Register. Everyone named on the title deeds must do so. Failure to register is a criminal offence and can result in a fine. You can register as a landlord here.

Finally, if you’re planning on renting to three or more unrelated people, this will be classed as a house of multiple occupancy (HMO). HMOs require an additional licence. Learn more about Glasgow HMOs here

What you need to do once you’ve secured your tenants

There’s a lot of responsibility that comes with being a landlord. If you’d rather take a hands-off approach, working with a local property management company (like Cairn) can be a big help. 

Learn more about our management services here.

If you want to be a DIY landlord, you’ll first need to

  1. Conduct all viewings of the property
  2. Conduct referencing off all tenants
  3. Take deposit and move in funds from tenants
  4. Ensure all compliance is in place for the tenants move in (safety certificates / maintenance / cleaning)
  5. Conduct inventory
  6. Create the correct tenancy agreement and ensure all parties sign this
  7. Meet with your tenants and give them a tour of the property. Show them how to switch off the electricity, how to reset a blown fuse, and how to switch off the water supply in an emergency — plus anything else specific to your property.

Once you’ve received your tenant’s deposit, you’ll need to place it into a Tenancy Deposit Scheme within 30 working days of the start of the tenancy. You should also notify your tenant in writing which scheme is holding their deposit.

Finally, you should notify local authority & the properties utility providers that a tenant is moving in (and that you no longer live there) so that the Council Tax account & Energy accounts can be updated. You should also let your tenant know that you’ve done this.

Throughout the tenancy:

  • Respond to reactive maintenance / emergency out of hour issues (weekends and evenings)
  • Conduct periodic inspections of the property
  • Handle tenant complaints
  • Neighbour complaints
  • Collect rent / chase rent if in arrears

At the end of the tenancy:

  • Conduct move out inspection
  • Handle deposit deductions / deposit disputes
  • Re-advertise the property and start the process all over again

If this seems like too much to handle we have friendly and qualified staff here at Cairn ready to help you with the management of your property.

Whether it was accidental or on purpose, if you’re dipping your toe into the world of Glasgow letting as a landlord, Cairn can help. We can look after everything to make sure you remain compliant and your tenant enjoys a safe and happy experience. 

Contact us here to learn more

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