Deposits - Safe and Sound at moo-let

Since 2007, private landlords and letting agents in England and Wales have had to use a government-approved tenancy deposit protection scheme to safeguard people's cash, and a similar system will fully take effect in Scotland in November.

In the past, when a deposit is paid to a landlord or letting agency, they keep the money in their own bank account until it’s returned to the tenant.

However, under the tenancy deposit scheme regulations, the deposit is registered with a tenancy deposit scheme and put into a separate bank account set up by the scheme provider until it’s returned.

Landlords and Tenants - Are your deposits safe with the new deposit scheme?

According to a recent report in Landlord Today, ‘many’ Scottish letting agents could go bust as a result of the new tenancy deposit law, with a collective black hole in their accounts that could be as high as £50m.

This is because the deposits already handed over have been 're-invested' and some letting agents simply don’t have the cash flow to hand over. 

According to the report, a record number of letting agents in Scotland are trying to sell up in advance of the November deadline, which could have a substantial knock-on effect for landlords, who would be forced to find the money for their tenants.

Some landlords will not be aware that, even though they have instructed the agent to take management of their property, they are still legally accountable to pay the deposits back to the tenants.

The moo-vement continues

However, we are happy to clarify that landlords and tenants involved in the community at moo-let have no fears of any of the above affecting them.

All the deposits taken are accounted for and are in the process of being transferred over to SafeDepositsScotland, an independent tenancy deposit protection scheme approved by the Scottish Ministers under the Act.

If anyone has any fears or needs advice, please don’t hesitate to get in touch on 01383 822 981.

If you have not already joined the moo-vement, our advice is to find out from your agent exactly where your deposit is!

If you have found this post interesting please use the share buttons below to tell your online community about it. There's a good chance they'll find it interesting too.

 

A Leaky Shower - What’s the worst that can happen?

At moo-let, we always encourage landlords to carry out regular inspections on all your rental properties.

We also make it clear that you cannot expect all tenants to tell you when there are maintenance issues.

For example, this property in Dunfermline had just a small leak in the shower, and as it wasn’t a substantial one, the tenants didn’t feel it was worth alerting the landlord to the problem.

However, after nearly a year of constant dripping, the water had worked its way behind the tiles, into the floor boards and onto the joists.

Water was being drawn up the walls and the result was dry rot, a wood-destroying fungus that is found in most parts of the world.

Dry rot is one of the most damaging conditions you can get in a property. To grow or flourish, dry rot needs moisture.

This could come from many sources such as a drip from a leaky pipe, rain water from the roof, damaged gutters or down pipes. In this case, it was obviously caused by the leaking shower.

Whatever the source of the dampness, if it is rectified and the timber is allowed to properly dry out, the dry rot will eventually be controlled.

However, if it is not treated properly, dry rot can cause widespread structural damage.

The picture to the right, for example, was the inside of the cupboard in the bedroom to the left of the bathroom.

Typical indications of dry rot include:

• Wood shrinks, darkens and cracks in a 'cuboidal' manner
• A silky grey to mushroom coloured skin frequently tinged with patches of lilac and yellow often develops under less humid conditions. This 'skin' can be peeled like a mushroom.
• White, fluffy 'cottonwool' mycelium develops under humid conditions.
• Strands develop in the mycelium; these are brittle and when dry and crack when bent.
• Active decay produces a musty, damp odour.

As you can see from the picture on the left, dry rot had already started in this property in Dunfermline.

Although it wasn’t a property we managed, the landlord sent out an SOS to get the property back to a rentable condition; so we had the moo-let maintenance team jump into action.

Everything had to be stripped back to the bare bones but, luckily, the dry rot had just started.

The dry rot was treated with an anti-fungal treatment before replacing and re-building; leaving a nice new, clean, mould free bathroom.

So, if you want some moo advice on dry rot...

• Firstly, don’t be shy and ask us directly for advice or help! Advice is always FREE and FREE is always good. 
• Do your regular inspections on all your rental properties, don’t expect all tenants to tell you when there are maintenance issues. 
• If there is a leak, stop it as soon as you can as it’s a major step in the right direction to stopping dry rot. 
• Get the contacts of good, reliable tradesman. They are worth their weight in gold.

If you have found this post interesting please use the share buttons below to tell your online community about it. There's a good chance they'll find it interesting too.

 

Calling all Landlords

As residential lettings and property management specialists, we are fully focused on the priorities and needs of our landlords.

Our most important consideration is providing landlords with the best possible service and the right tenant for your property, and unlike other estate agents, our loyalties are not divided by dealing with property sales and mortgages.

We never forget that the property is your most important asset, and we can confidently assure you that by instructing us to act as your letting and management agents, your asset will be in professional and caring hands.

These are just some of the landlord services that we provide:

• We make sure our contracts are fully explained, and our service is as friendly as can be.

• If something needs done, we’ll do it. All maintenance of our properties is carried out by a single company.

• Our fees are competitive and may be open to negotiation dependent on the level of service required. We are particularly committed to investment landlords and savings can be made on the smallest of portfolios.

• Drawn from a continually updated register, all prospective tenants are thoroughly referenced and credit checked. In some cases we will also require a guarantor.

• For our initial meetings with you we will, if necessary, be pleased to visit your property outside normal office hours, at a time that is convenient to you.

• We offer a range of competitively priced insurance products designed specially for landlords, providing extra security and peace of mind. These include; Guaranteed Rental Insurance, Legal Expenses Cover, Contents Insurance and Buildings Insurance.

If you want to join the moo-vement, or find out more information about the landlord services that we provide, please click the image below or contact us now at: info@moo-let.com.

If you have found this post interesting please use the share buttons below to tell your online community about it. There's a good chance they'll find it interesting too.

 

Latest Property - Gorgie, Edinburgh

We have a fantastic opportunity to rent this newly refurbished 2 bedroom top floor flat in the popular area of Gorgie.

Situated in a fantastic central location in Edinburgh, this spacious property has just been renovated, and now includes new fitted kitchen, new carpets throughout, upgraded electrics and every room freshly painted.

Where is it?
181 Gorgie Rd, Edinburgh, City of Edinburgh EH11 1TT

Property Description
The property comprises of an entrance hall, 2 bedrooms, living room, kitchen, bathroom with bath and overhead shower, DG & GSH throughout.

There is excellent storage and it features large bay windows in the living room and one of the bedrooms.

The property benefits from excellent local amenities and public transport.

We strongly recommend viewing this property as we don’t expect it to be vacant for long.

Full credit checks and references carried out and deposits required.

Property Information

Unfurnished

Deposit - £600

Minimum Lease - Six Months

Features

New Fitted Kitchen
New carpet throughout
Upgraded electrics
Bath and overhead shower
DG & GSH throughout

Rooms
Living Room
Two Bedrooms
Entrance Hall
Kitchen
Bathroom

Price - £600 PCM

If you are interested in this property, please call us on 01383 822 981. Alternatively, you can email us on info@moo-let.com.

You can visit this property on our site by clicking here.

If you think one of your friends or family would be interested in this property, why not share it with your online community?

If you have found this post interesting please use the share buttons below to tell your online community about it. There's a good chance they'll find it interesting too.

 

Udderly Amazing Service

At moo-let, we like to think we are a little different from other letting agents.

Our focus is on service; on making sure you’re happy, and on doing whatever it takes to find you a place to call home.

If something needs done in your property, we’ll do it. All maintenance is carried out by a single company and all work comes with a moo-let seal of approval.

Because we are so dedicated to offering exceptional service to our landlords and tenants, it's not unusual for us to go above and beyond the call of duty...

Draining Champ

One of our new tenants, Tracey, moved into a property a few weeks ago, then went on holiday a few days later with her 9-year-old twin sons.

While she was away, the removal men plumbed in her washing machine, however when she came home with weeks worth of washing late Friday night, her washing machine wasn’t working!

Not knowing who to turn to, Tracey texted us to tell us the bad news. Now, technically, plumbing is not a service that moo-let provide, however first thing on Saturday morning Michael went to have a look and found that it had been plumbed in wrong.

Easily enough, he sorted it and Tracey could relax. For just a small amount of time and effort, we helped saved her a call out charge for a washing machine engineer.

Love is Blind

Later that day, one of our landlords said he was getting a blind company in to fit blinds, however for whatever reason, the company didn’t turn up.

The couple who live in the property have a small baby, so they really needed some sort of blind up in the baby's room, as well as their own.

The blinds were vertical, not made to measure, and needed cut and fitted to size - yes, each and every single last strip!

We were there until after 8 at night (we have a life, honest), but finally, we fitted the blinds and helped ease some unnecessary stress on moving day.

Moo-ving Day Strife

A couple of weeks back, we had three tenants moving into a property on Broughton Road, in Edinburgh. The only time all three could make it for lease signing and handover was 7pm on a Saturday night.

We had been working most of that day anyway, so it wasn’t a problem. The three young gentlemen left our office very excited; rightly so, as there was a fab pad waiting for them.

Starving and tired, Michael and I decided to go local for food and a well deserved glass of wine. We sat down and were just about to eat, when we got a call. Oh, no... they couldn’t get into their flat!

Michael quickly finished his food, then dashed over to sort it out, while I patiently waited for him to come home!

Just as well we are a couple, otherwise we'd have to have very understanding partners...

If you have found this post interesting please use the share buttons below to tell your online community about it. There's a good chance they'll find it interesting too.

 

Outstanding in our Field.

When you are letting out your property, one of the most important things to know is that it is in safe hands.

We know that there are other letting agents out there who promise to be as open and honest as possible with their landlords, but most of the time, you will find out they don’t really care that much at all.

At moo-let, we like to think we are different.

We are fully focused on the priorities and needs of the landlord and we never forget that the property is your most important asset.

We can confidently assure you that your asset will be in professional and caring hands and because we are a small firm, we are able to offer a personal and friendly service, while maintaining a high standard of competence and professionalism.

Take Mr and Mrs Kirk’s experience, for example.

Having let their property in Rosyth for a three year period between 2008 and 2011 following their move to Texas, USA, they had the same tenant for the majority of that time, and fortunately, there were no major problems.

In mid-2010 though, that was all set to change.

Mr Kirk’s first letting agency informed him that they had been bought out by a larger company and that the current directors were retiring. He was assured that the new agency were well established and the maintenance commission etc. would not change.

However, that new, larger company (who we will refrain from naming and shaming) suddenly closed in 2011, leaving hundreds of tenants and landlords across Fife out of pocket. 

Listed below are just some of the experiences that Mr and Mrs Kirk suffered from: 

• Periodic property inspections (which are supposedly carried out every few months) always said the same: ‘property in good order’. However, when Mr Kirk was back in the UK and checked personally, he noted this was NOT the case. 

• When one tenant left, the final property inspection again said 'OK', however Mr Kirk found a number of damaged items, including a broken mirror in one of their built-in wardrobes.

• They were kept completely in the dark as to what was going on with their letting agency's financial difficulties.

• Following the agency’s sudden closure, they lost their deposit, which of course was lost in rent

• They lost at least two months rent, and were subsequently left with no agency and the probable cost and hassle of setting up a new agency agreement. 

Understandably, Mr and Mrs Kirk were left angry, frustrated and sceptical about letting agents in general.

Well, as Mr Kirk explains, that was until we stepped in. 

'By word of mouth, I was informed of a relatively new letting agency setting up in Dalgety Bay area, who were reportedly attempting to `raise the bar’ in terms of client service in the letting market. That agency was moo-let.

'I paid them a visit and discussed my situation. They were aware of the situation that many (unnamed agency’s) customers were facing and waved many of the normal costs of setting up new tenancy agreements etc.

'Since that meeting and signing up with moo-let, I have been very satisfied indeed with the service received and feel my property, my rights as a landlord, and my general financial interests in the letting world are far better looked after.'

So, there you have it. If you join our moo-vement, like Mr and Mrs Kirk did, your property really will be in safe hands. 

Or in safe hooves, in our case!

If you have found this post interesting please use the share buttons below to tell your online community about it. There's a good chance they'll find it interesting too.

 

Join the Moo-vement...

Welcome to our blog, where we will keep our herd of followers updated on the latest happenings in the wonderful world of moo-let.

Situated in Dalgety Bay in the Kingdom of Fife, moo-let is a letting agency with a difference.

• Unlike other letting agents, we will always be as open and honest as possible with our landlords.

• When you're looking to let out your property, we know that the most important thing is to know that it's in safe hands (or hooves, in our case). With moo-let, that's exactly where it'll be.

• We will do everything possible to ensure that our contracts are fully explained and we will treat every single property as if it’s our own.

• All maintenance of our properties is carried out by a single company. And all work carried out comes with the moo-let seal of approval.

• You can be involved as much as you want, or if you’d prefer, you can sit back, relax and let us take care of everything. And we mean everything.

• All our tenants are thoroughly checked and full references are provided.

Above all though, our service will always come with a smile. After all, what's more fun than moo-ving into a new property?

We could go on until the cows come home, but that’s about that for our first foray into the blogosphere. Until next time...

If you've found this post interesting please use the share buttons below to tell your online community about it, there's a good chance they'll find it interesting too.