January 23, 2012

Edinburgh Letting Agent Braemore Property Management have announced details of the latest event in their series
of landlord seminars. Following 2 successful events last year aimed at private landlords letting out property in Edinburgh, the next event
will be held in February and will cover the very topical subject of the launch of the new tenant deposit scheme in Scotland. Announcing details of the event, Braemore’s Sales & Marketing Director Colette Murphy stressed that the timing could not be better.  “The Scottish Government
has recently published proposals from 2 firms to operate the scheme as administrators and the consultation process concluded on the 21^st January.  The results are due to be published towards the end of March and it is widely expected that the new scheme will go live in
April 2012,” said Murphy.

“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.”