For property owners who are going to become first-time landlords in Edinburgh, it can appear to be a daunting process with a number of hoops to jump through. However, once the process has been organised and understood, it is more straightforward than first-time landlords might think.

The capital gains tax scheme for Non-Resident Landlords has a different basis than the income tax scheme. The rules state that if you sell your UK property then you must make a capital gains tax within 30 days of the completion of the sale, even if there is no tax due.

We are delighted to offer this fantastic 1 bedroom off market investment in Gorgie, Edinburgh. Contact Callum at Umega Lettings for more information.

Landlords in Edinburgh have put up with sub-standard service from their letting agent but for many it felt like too much effort or too big a step to move agent. But… switching agent isn’t such hard work after all. In our experience it should only take a landlord two minutes then the new agent will do the rest.

Property investors in the UK have 69 cities to choose from, but Edinburgh looks like the best place to invest in residential property in the UK. In this blog, we’ve analysed the data and trends and combined it with our experience to provide a comparison of how Edinburgh compares to other UK cities.

At Umega we’re always looking to improve customer experience and we’ve introduced an innovative system that allows tenants in Edinburgh to book a viewing online!

Edinburgh is one of the most popular cities in Europe for holiday lets. AirBnB has triggered the creation of a whole industry of holiday let landlords and this new sector is rapidly maturing. However, many landlords are turning their backs on holiday lets and deciding instead to rent their properties long-term.

To have won as the Residential Lettings Team of the year at the Scottish Home Awards is a huge boost and it compliments nicely some of the fantastic customer feedback we’ve received over the past 12 months

Whether you are an experienced landlord or you are letting out your first property, as well as preparing the property itself, if the property has a garden it’s important that you focus some of your efforts the outdoor space.

An open-market sale may appeal to many property owners but it also comes at a high cost. Selling tenanted property, on the other hand, can take place with tenants in situ, so you can continue to receive rent while a buyer is sourced and up until the day the property sale concludes.

When calculating self-assessment income for residential property only the mortgage interest is an allowable expense. In addition to this HMRC have put in place further restrictions for the tax relief on finance costs since 6th April 2017. Find out more here.

If a landlord has a rental property in the UK and their usual place of abode is outside the UK then they will be taxed as a non-resident landlord. This means that income tax is payable to HMRC on any profits.