Operating as a Landlord in Scotland
More and more people in Scotland now rent out properties and lpm successfully manage many private, residential rental properties on behalf of Landlords.
There are many social and financial responsibilities that go along with being a Landlord in Scotland and lpm have identified some these in this article.
To rent out property in Scotland, you must register as a Landlord with the Local Council responsible for the area within which the rental property is located.
It’s a criminal offence to rent out your property without being registered.
As a Scottish Landlord, you have many responsibilities, including:
- Registering each property that you intend to rent out
- Deciding the type of Tenancy Agreement you will offer
- Providing your tenant with a ‘Tenant Information Pack’
- Keeping rented properties safe and free from health hazards
- Making sure all gas and electrical equipment you supply is safely installed and maintained
- Following fire safety regulations
- Providing an Energy Performance Certificate for the property
- Protecting your tenant’s deposit in a government-approved scheme
In addition, you must inform HMRC that you are operating as a Landlord and you may have to pay Income Tax on your rental income.
If you have a mortgage on the property you want to rent out, you must get permission to operate as a Landlord from your lender.
You may be entitled to claim Council Tax exemption if your property is unoccupied and unfurnished
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