1. Dublin
2. Frankfurt
3. Edinburgh
4. Birmingham
5. Belfast
6. Paris

The national Investment Promotion Agencies recognised here were particularly successful in 2010 at attracting capital investment projects — both expansions of existing facilities and new projects — from investors at home and abroad.

The national Best to Invest rankings are determined 50 percent by analysis in these categories — business environment, business risks, foreign direct investment and infrastructure; and 50 percent by new and expanded facilities announced in 2011.

The Best to Invest metros rankings were determined 40 percent by analysis in the areas of business environment, business risks, foreign direct investment, infrastructure and accessibility; 20 percent on an unscientific survey of global site consultants; and 40 percent on New Plant Database projects.

http://www.siteselection.com/issues/2012/may/cover.cfm?goback=%2Egde_2669184_member_115122665

Braemore’s average TTL in Q1 was 28 days.

 Looking at Edinburgh specific data, Braemore are delighted to announce that yet again they have exceeded the Edinburgh average significantly; as the table below shows:

 Q1                          Citylets              Braemore

                                TTL (Edi)        TTL (Edi)

1 bed                     34                           29

2 bed                     39                           29

3 bed                     40                           30

4 bed                     30                           14

It is interesting to note that the time taken to let a 4 bed property has fallen significantly from Q4 2011, which is due to the significant volumes of HMO properties that come on the market in March.  Braemore’s Managing Director, Julie Grieve commented. 

“The end of Q1 is traditionally a busy time in Edinburgh’s lettings market as students look for the property they want to rent for the next academic year.  The impact of competition on the HMO market can be seen with our time to let for 4 bed properties falling from 31 days last quarter to just 14 this quarter.”

 Grieve continued “Bramore continually outperform the Edinburgh market when it comes to time to let and those extra 16 days mean hard cash in the pocket for our landlords. As a Landlord it’s important to do your sums when it comes to your void periods, as you can never get that time or money back.  By renting out your property on average 10 days faster, that means Braemore would earn you an additional £240 in rental income, based on the average monthly rent of £720.”

-Encourage Growth & Investment

-Ensure better quality stock

-Ensure Tenants can make more informed choices

The feedback gathered will allow them to deliver a vision for the future of the Private Rented Sector.

Given this is the fourth consultation in the sector over the past few months, along with the introduction of a Tenancy Deposit Scheme, the introduction of a mandatory Tenant Information Pack and consultation around Tenant fees, it is clear that housing is high on the agenda with some debate around the part that the PRS has to play in the Government meeting their housing targets.

All stakeholders should have their say, the consultation can be found here:

 http://www.scotland.gov.uk/Publications/2012/04/5779

The deadline for comments is 10 July 2012.

Julie Grieve, MD of Braemore Property Management was at the launch of the consultation and commented “The Private Rented Sector is under the spotlight just now and the launch of this consultation signifies that the Government will continue to legislate in our sector for some time to come.  Personally I would like to see more focus on stopping the unprofessional Landlords and Agents acting in the sector, however with some joined up work between the various bodies involved I do believe that enforcement should become easier and that can only be good for the sector.”

New scheme to protect tenants’ millions

05/04/2012

A compulsory scheme to safeguard millions of pounds in deposits paid by tenants renting properties in Scotland has been approved by Housing Minister Keith Brown.

Annually, tenancy deposits amount to over £74 million in the majority of the 273,000 households that make up the private rented sector in Scotland.

The first tenancy deposit scheme to be approved is the Letting Protection Service Scotland.

The scheme also aims to protect the reputation of the majority of private rented sector landlords who act professionally and responsibly.

Once in place landlords or their agents must pay deposits to an approved scheme and provide key information about the tenancy, the deposit, and the scheme which is protecting it, to the tenant.

The scheme will be free for landlords and letting agents to participate in and will provide access to a free and independent dispute resolution service, where agreement over the return of a deposit cannot be agreed by the tenant and landlord.

Two further schemes are being considered with the intention of starting all three schemes, which will operate across Scotland from July 2, 2012. In order to provide landlords time to prepare, the legal requirements to submit deposits into a scheme will come into effect from November this year.

Keith Brown said:

“Up to 11,000 tenants annually have £3.6 million of their deposits wrongly withheld, which is why this Government is taking action to ensure tenants receive a fair deal.

“It is important to stress that the majority of landlords act responsibly. This scheme is aimed at those landlords who continue to tarnish the image of the private rented sector.

“The new regulations that allow the scheme to operate are also deliberately streamlined with the emphasis on creating a cost effective approach to safeguarding tenancy deposits.”

Kevin Firth, Director of The LPS Scotland commented:

“With 5 years of custodial deposit protection experience under our belts, we are delighted to be approved by the Scottish Government to operate a scheme in Scotland. I encourage landlords and tenants to make sure that they understand the legislation and take appropriate action to ensure they are covered.

“It will be compulsory for landlords and letting agents in Scotland to protect their deposits with a Government approved scheme as soon as the legislation launches. It is crucial that those in the private rented sector don’t fall foul of this legislation and take the appropriate steps to ensure that they are prepared for its introduction.”

The results of the quarterly survey carried out by the specialist buy-to-let lender also revealed that just 7% of landlords thought that tenant demand declined in the first three months of this year, and 46% said that levels remained stable.

Professional landlords were more likely than smaller-scale landlords to think that demand was growing – 46% compared to 37%.

The survey also asked landlords to comment on expectations of demand levels in the next 12 months: more than half (53%) said they believe demand will continue to grow and 36% thought it will stabilise.

Braemore Property Management, Edinburgh’s leading letting agent, report a similar trend. Colette Murphy, Sales Director, reports a brisk first quarter with a continuing low time to let figure, “there is no doubt that we are operating in a favourable Landlord market, our time to let figure  continues to one of the lowest we have seen and there are rent increases, albeit modest, pretty much across the board”.

There was a very good turnout from Private Landlords and other Letting Agents which highlights what an important issue it is for the Private Rented Sector in Scotland. Guest speakers included Rory Cowan, partner with Kerr Stirling Solicitors and Steve Harriott, Director of Safe Deposits Scotland, one of the proposed Tenancy Deposit Administrators. Rory offered considerable insights into the legalities of the scheme and provided detail around when exactly any deposit held by a Landlord or Letting Agent might require to be transferred to a proposed scheme administrator. Rory ensured the audience was clear about the consequence of not complying with the scheme. Safe Deposits Scotland who currently operate one of the schemes in England and Wales offered practical information on how the scheme will operate and how any claim against a tenants deposit would require to be processed. A key highlight of the presentation was Steve’s “ 10 key things we should be doing now”. “This advice is exactly what the private rented sector needs so they can gear up for the inevitable legislation” said Grieve, “it’s important to get involved and fully understand the legalities and processes, we are Landlords too and appreciate it can be overwhelming, that’s why we want to help”. There is currently no fixed date for the regulations to come into force but it is worth noting that the proposed start date of the 1st March 2012 has, at time of writing, been pushed back to 1st June 2012.

At the end of a year which saw further acquisitions completed and significant growth for Braemore, Lomond were surprised and delighted to have been nominated in the Best New Business of the Year category.  Speaking about the nomination, Stuart Pender, CEO of Lomond said “When we started the business in 2010, our aim was to build first of all the best Letting Agent in Edinburgh.  Then, through our plans to expand into other cities throughout Scotland and England, to become one of the leading firms managing property in the Private Rented Sector in the UK.  2011 saw us make great progress in establishing the platform in Edinburgh to provide outstanding service to Landlords looking to let their properties in the Scottish capital.”

“All of our effort has been focused internally on investing in new products, services, IT and improved processes to make sure that our Landlords and Tenants receive the best possible service,” continued Pender.  “So to find out that our progress has been recognized externally was a very welcome surprise.  The awards are designed to showcase the very best of Scottish Business Achievement, and to find ourselves in the company of the outstanding firms who have also been nominated is great news for the team.”

Lomond will have to wait until the Charity Fund Raising dinner hosted by the Scottish Business Awards in February to find out whether they have been successful in their category of New Business of the Year.  But regardless of the outcome, Stuart is pleased with the progress made in 2011.  “The continued high demand from tenants for good quality property to rent means that Edinburgh based landlords are still seeing great returns on their investments.  By increasing the total number of properties under management by over 65%, Braemore have shown that a quality service matching good properties and landlords with good tenants can produce a real win:win.  If we can convert that into a win at the awards, it will simply be the icing on the cake.  More important to me is the fact that the great service provided by the team ay Braemore continues to win such high levels of repeat business, from landlords and tenants alike.”

The awards ceremony takes place on Thursday, 23^rd February at the EICC in Edinburgh, with all profits from the night going to 3 charities – Glencraft, WildHeart In Action and CLIC Sargent.  Full details of the Awards and the Charities they support can be found here

“This means that all Landlords, whether they use an agent or not, need to be aware of the requirements of the new scheme and what they need to do to ensure that they will be able to comply.  After all, what many landlords don’t realise is that they will be the target of any enforcement action, in the event that a deposit isn’t transferred to one of the schemes.  The tenant won’t be taking the letting agent to court – they will sue the landlord.”

The aim of the seminars is to make sure that private landlords have all the information they need to comply with the new scheme.  To help with this, Braemore have enlisted two industry specialists as guest speakers at the event, which is targeted at private landlords with property to let in Edinburgh.  Stirling-based law firm, Kerr Stirling, will present on the background to the new legislation, and the legal implications of the scheme – in particular, looking at what the enforcement options may be for landlords and agents who don’t comply.  Then, Steve Harriott, CEO of Safe Deposits Scotland will talk about his firm’s bid to be one of the administrators of the scheme, and outline how they will work with private landlords and agents to ensure minimal disruption through the transition period.

The event will take place at The Roxburghe Hotel on Wednesday 22^nd February at 7:00  pm.  Tea and coffee will be provided on arrival, the presentations are expected to last an hour including time for Q&As, and then guests are invited to stay on for drinks and canapés to
discuss any individual concerns.  To register for a place at the event, please call Braemore on 0131 624 6666, or
email info@braemore.co.uk

In conclusion, Colette urged landlords to book early.  “The new scheme is not optional, and will affect every landlord in Scotland.  And once the clock starts ticking, there is only a finite amount of time to comply, or face the consequences.  We expect that there will be strong demand
for places from landlords keen to ensure they don’t get caught out, so book early as places are limited.”