Landlords Update

23 August 2010

News from our lettings teams across Scotland.

ANNOUNCING OUR EXPANSION  

At a time when many agents are consolidating, we took the decision to further strengthen our presence in the Ayrshire lettings market and are delighted to welcome Donalds Chartered Surveyors to the firm.

The merger, which will take effect from 1 September this year, will result in an expansion of the range of rural and residential property services offered by CKD Galbraith in Ayrshire.  All staff at Donalds Chartered Surveyors will be retained by CKD Galbraith and will continue to serve the needs of their clients as a fully integrated part of our firm.

Residential lettings are an important part of the business for both companies, and the enlarged lettings department in Ayr will manage well over 300 properties providing a comprehensive service second to none in the area.

Bob Cherry, partner and head of CKD Galbraith’s Ayr office, said: “We have been working in conjunction with Donalds on various projects and instructions over many years and we very much look forward to building on our successful relationship in the Ayrshire property market. Donalds has a similar ethos to ours and we strive to provide the highest quality of personal service that clients have come to expect.”

Tom Donald, of Donalds Chartered Surveyors, who will become a consultant at CKD Galbraith said: “The Donalds team welcome the opportunities this merger will provide, and is confident that all clients will benefit from it”.

Joyce Smart, Marjory Douglas and Ruth Sprott from the Ayr Lettings Team look forward to welcoming the Donalds Letting Team to the CKD Galbraith Ayr office.

GOOD NEWS FOR LANDLORDS ……RENTS ARE ON THE RISE! 
With demand and supply continuing to grow during the first quarter of this year, rents in Scotland rose by 1.3% from the previous quarter and the average time to let reduced from 45 days to 42 days.

LEGISLATION NEWS

  • 13% of all households in the UK live in property rented from private landlords.  Not everyone will be able to afford to buy even when the market recovers and the new Coalition Government is being encouraged by landlord organisations not to introduce any tax measures which would discourage investment in private sector housing.
  • A staggering £16.7 million has been spent by Local Authorities on dealing with 162,503 applications from landlords since the landlord registration scheme was introduced 4 years ago.  Only 19 applications have been refused and no unregistered landlords have been referred to the Procurator Fiscal.  It is difficult to see what good the current system is doing in the attempt to deal with rogue landlords and bad practices.  The Scottish Parliament has undertaken to spend even more money by reviewing the current system.
  • By the autumn there should be new legislation giving landlords greater powers to repossess if a tenant has abandoned a property rented from a private landlord.
  • Document review – we have just completed an extensive review of all of our tenancy documentation to reflect current market conditions. Every effort has been made to use plain English and to make it user friendly. The roll out is due very soon!
  • Capital Gains Tax (CGT) changes announced in the Budget are unlikely to have a significant impact on the property market.  As a firm which specialises in lettings, we are pleased to see the rise in capital gains is not as high as expected. A CGT rise of 10% is unlikely to deter owners of buy-to-let properties or second homes from continuing with their plans as a result of this rise.

INVESTING IN OUR PEOPLE & SERVICES
Continuing investment – unlike many other businesses in the property world we are continuing to invest in our staff and have recently created a new role. Linda Kinniburgh is our new Quality Manager. Linda is project managing our registration under various quality management standards which will help us achieve the very highest standards in the delivery of client services.

 

EVENTS 

Our Glasgow Lettings department has just launched a promotion at Douglas Park Golf Club in East Dumbartonshire. Golfers should look out for the CKD Galbraith flag at the12th hole which is a short Par 3 – successful putters will see our name on the Hole Cup too!!

We would be delighted to welcome you to visit us at any of our events throughout the year.

Find out more about our lettings services or get in touch with one of the team:

Aberfeldy:Christeen McKay – 01738451 111

Ayr:Joyce Smart - 01292 268181 

Castle Douglas: Marion Currie – 01536 505346

Cupar: George Lorimer – 01334 639980

Edinburgh: No Lettings Service at present

Elgin: Rod Christie - 01343 546362

Galashiels: Jan Borthwick – 01896 754842

Glasgow: Gregor Smyth – 0141 953 3070

Inverness: Lisa Barnetson – 01463 224 343

Kelso: Jan Borthwick – 01896 754842

Peebles: Jan Borthwick – 01896 754842

Perth: Christeen McKay – 01738451 111

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