Landlords are finding short term letting is giving them something to cheer about in the midst of bad news...

With all the doomsayers enjoying the current newsflashes it has been hard to find any positive news out there.  However, we believe that there is plenty to cheer about in the Scottish private rented sector.

We've noticed that many landlords are now switching on to the fact that the government stealth taxes of HMO licenses, Energy Performance Certificates and even registration fees are becoming an unwelcome burden as their property prices are depreciating at a rate of knots.

However, short term or holiday letting is fast becoming an attractive option for those with the right property in the right area.  The government has thankfully tucked their red tape in the drawer for this area.

Some of our landlords are seeing far higher returns on a short-term letting basis than they did with long term tenants.  While the associated costs of marketing fees, cleaning costs, council tax and energy payments can sometimes put off the would-be short term landlord, it is worth bearing in mind the returns can be far higher with yields well in excess of 10% of the current value.

Scotland and Edinburgh in particular is likely to benefit from this year's Homecoming Scotland and the Clan Gathering which will be held on the last week of July 2009.  With the pound falling agaist the Euro and the Dollar we are seeing much greater interest from both Europe and America.  The Edinburgh Festival is also hopeful of more British holiday-makers who have decided to stay in the UK this year as opposed to going abroad.

More updates soon...

Andrew Landsburgh