Do you rent out a flat or house on behalf of a relative, close family member or friend in Scotland?
If you do and you manage the tenancy yourself, you could be committing a criminal offence. If convicted you could face a fine of up to £50,000, up to 6 month imprisonment or both.
On 31st January 2018, the Scottish Government’s new regulations for anyone acting as a residential Letting Agent in Scotland came into force.
All those who carry out ‘letting agency work’ will be governed by the new rules. This includes acting on behalf of a landlord entering into a tenancy agreement with a tenant, collecting rent or carrying out repairs. If you manage a property for a family member or friend you will likely come under the regulations.
At Douglas Dickson, we have been acting on behalf of landlords for over 30 years in the Glasgow area. If you would like to know more how this may affect you or how we can help please contact us.
The Letting Agent Code of Practice (Scotland) Regulations 2016 brings in a mandatory code of practice for letting agents in Scotland.
At Douglas Dickson, we are fully compliant with the regulations that include:
- meeting a minimum level of training for key managers. We are qualified through the Chartered Institute of Housing;
- having Client Money and professional indemnity Insurance; and
- being registered as a letting agent with the Scottish Government.