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:

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

The Scottish Government publishes help and advice on the legalities and responsibilities of becoming a Landlord in Scotland at their website.

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Registered Name: Life Property Management Ltd. Registered in Scotland SC253869. VAT Reg No 827 5010 46. Property Factor Reg No PF000203. Registered Office: 11 Somerset Place, Glasgow G3 7JT. Life Property Management Ltd is an appointed representative of Arthur J. Gallagher Insurance Brokers Limited which is authorised and regulated by the Financial Conduct Authority.  Registered Office: Spectrum Building, 7th Floor, 55 Blysthwood Street, Glasgow, G2 7AT.  Registered in Scotland.  Company Number SC108909.

 

Deacon is a trading name of Arthur J. Gallagher Insurance Brokers Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: Spectrum Building 7th Floor, 55 Blysthwood Street, Glasgow, G2 7AT.Registered in Scotland. Company Number: SC108909.