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Renting - Furnished


meltsheep
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Why are almost all rental properties in edinburgh let furnished ? Who wants someone else's mangy furniture in their place ?

In europe most places are let unfurnished and on much longer leases. No wonder there's a vibrant rental sector.

Here's if you have furniture you best bet is to stick it in storage and put up the ikea's finest.

Discuss ?

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I've found this is true for everywhere in the UK. In Canada it is more normal to rent un-furnished as well. I heard a rumour once that it is because of some obscure tenancy law that makes it harder to evict people who have their own furniture, but in taking the courses to learn about being a landlord in Scotland this was never mentioned.

I think it must be a supply and demand thing. Most people want to rent furnished so that is what is supplied. There are some unfurnished about; I used to always go for these myself.

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Wow you guys are slow...

Why dont you look up the tax implications between letting furnished and unfurnished..

Look how much wear and tear a landlord can claim back by 'furnishing' a let.

You will be surprised so dont do it if you have a weak heart or eating your breakfast.

Now hate your landlord and the Government....10% of income per year..!

Claim back through furnished

Paragraph 48 - Letting Furnished Property

A sum equal to 10% of the income arising from letting furnished property may be deducted in arriving at the balance of profits assessable to income tax. This deduction is in lieu of annual claims to wear and tear, capital or replacement allowances.

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Wow you guys are slow...

Why dont you look up the tax implications between letting furnished and unfurnished..

Look how much wear and tear a landlord can claim back by 'furnishing' a let.

You will be surprised so dont do it if you have a weak heart or eating your breakfast.

Now hate your landlord and the Government....10% of income per year..!

Claim back through furnished

That's a jersey law you are quoting. How slow is that!

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http://www.olivetreeworld.com/directory/de..._ADVANTAGES.pdf

Letting property in the

UK

The letting of property in the UK

is treated for income tax purposes

in the same way as a UK property

business. Where more than one

property is rented out, the letting of

all the properties is treated as a single

business, which allows a loss made on

one property in a year to be effectively

set against profits made on others. No

distinction is made for these purposes

between property let unfurnished

and furnished, except for the special

rules which apply to furnished holiday

lettings.

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Whatever the reason its a pain in the proverbial.

Ok when I was a lad with nothing to his name furnished was ideal. Now I have furniture from a house - and that means a lot of money each month for storage.

Thankfully there appear to be a few 'rent it out instead' landlords with an empty house. Otherwise there would be restriced choice and less bargaining power. OTOH a learner landlord does not inspire as much confidence.

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When I moved up to rent I discovered that roughly 1/15th of properties were let unfurnished. The situation is very different in England where properties are more likely to be let unfurnished. Given that I was moving up with a fiancee, 2 cats and a van load of furniture, finding rental in Edinburgh was far from easy.

Edinburgh is an unusual market; a lot of the properties are let to students who need furnished. I think that historically a lot of people left home then rented and didn't buy furniture until they were due to buy a house. I suspect there's no rational reason for this. I suspect it has just happened this way.

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Why are almost all rental properties in edinburgh let furnished ? Who wants someone else's mangy furniture in their place ?

In europe most places are let unfurnished and on much longer leases. No wonder there's a vibrant rental sector.

I agree that it’s very weird in Edinburgh, and very annoying. In established tenement areas, only about 1 in 10 or even fewer of properties for rent are unfurnished. In areas of speculative new-build flats, the proportion of unfurnished seems to be higher.

In London, where I lived for a long time, in my experience it’s about 50/50 between furnished and unfurnished.

I would have thought that the high proportion of people renting now, due to being priced out of buying, would mean that unfurnished lets would be more popular, but seemingly the average Edinburgh landlord hasn’t realised this yet.

Is it the same in Glasgow too, or is this just an Edinburgh speciality? Any Glaswegians care to comment?

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When I moved up to rent I discovered that roughly 1/15th of properties were let unfurnished. The situation is very different in England where properties are more likely to be let unfurnished. Given that I was moving up with a fiancee, 2 cats and a van load of furniture, finding rental in Edinburgh was far from easy.

Edinburgh is an unusual market; a lot of the properties are let to students who need furnished. I think that historically a lot of people left home then rented and didn't buy furniture until they were due to buy a house. I suspect there's no rational reason for this. I suspect it has just happened this way.

I had 900 cubic ft of 'stuff' (a big one bed flat's worth) and it took me over 4 weeks to find anywhere half decent. I had money - I begged, cajoled, harassed for all that time, seeing only 2 decent places from about 10 visits altogether.

DJ Alexanders had an unfurnished flat in scotland st. My heart lept. The agent was 15 mins late (a 5 minute walk from his office). The place was filthy, disgusting bathroom, ancient kitchen, warped doors and floor that was in a state. They wanted 800/month for that! I had a real go at the agent for wasting my time showing me this dump (hard to imagine a more total shithole) and he shrugged his shoulders and said it would be let soon. Schmuck.

I looked at a few more unfurnished places in the new town and they were at best shabby. Finally got a modern flat that had a decent sized living room (after seeing about 5 that were too small to tiny).

It was deeply frustrating that so many nice places were on the rental market that I would have been very happy in but they had shitty furniture. I was so frustrated I ended up begging one agent to get the furniture removed from a place I saw in hillside. But she never called me back.

My impression of the lettings people in edinburgh is that they were a bunch of cowboys quite happy to sit back and take the cash for doing sod all.

The rental sector is so f**cked in the UK (compared to europe) no wonder everyone wants to own their own place. The Government need to study the German system for example where people sign up for long leases and properties have to be managed by a specialist company. If the boiler blows up, there is a compulsory maintenance fund that can be tapped. etc. etc.

Edited by meltsheep
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Thanks Melt you donkey...

still 10%...but i accidently pulled hte wrong page out of 15 i googled in 15 seconds...

Tell them you want it unfurnished...! Or go buy your own place...

or maybe stop whinging on a website and go do some protesting with your MP or local government.

Tax relief

Dude, I did have a good look around after you posted to try and find the figure for non-holiday lets.

Whinging ? Is that what this site is for ? At least renting in London is a damn site easier than stuffy Edinburgh.

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Dude, I did have a good look around after you posted to try and find the figure for non-holiday lets.

Whinging ? Is that what this site is for ? At least renting in London is a damn site easier than stuffy Edinburgh.

Definately what this site is for :)...especially after watching Gordon and Darling on tv this morning

Wish you the best of luck in finding a place...

Equally like you and most on this site frustrated by property laws in the UK :angry:

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At least renting in London is a damn site easier than stuffy Edinburgh.

Yeah, but in London £900 per month gets you a crappy two-bed conversion of around 65 square metres with zero storage and no garden access in a mediocre area miles away from anywhere (I have East Dulwich in mind, from bitter experience!), whereas in Edinburgh £725 per month gets you an 85-square-metre elegant purpose-built tenement flat in a high-quality area a stone’s throw from the city centre.

London may have a much more varied lettings market than Edinburgh, but London rents are so high. It’s largely based on the rental yields that I have long been convinced that Edinburgh sale prices have a long way to fall. The £900 per month flat in London mentioned above would, at the height of the bubble, have sold for maybe £270K, whereas the £725 Edinburgh flat would have sold for £330K.

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Yeah, but in London £900 per month gets you a crappy two-bed conversion of around 65 square metres with zero storage and no garden access in a mediocre area miles away from anywhere (I have East Dulwich in mind, from bitter experience!), whereas in Edinburgh £725 per month gets you an 85-square-metre elegant purpose-built tenement flat in a high-quality area a stone’s throw from the city centre.

London may have a much more varied lettings market than Edinburgh, but London rents are so high. It’s largely based on the rental yields that I have long been convinced that Edinburgh sale prices have a long way to fall. The £900 per month flat in London mentioned above would, at the height of the bubble, have sold for maybe £270K, whereas the £725 Edinburgh flat would have sold for £330K.

I agree with you completely. What finally drove me out of London was the thought of shelling out 1500/month for a 2 bed flat. I have one here for 800/month overlooking the Canongate Kirk. Edinburgh has some benefits! If I move I'd probably be able to save another 100/month in the present climate.

As for yields, Edinburgh's are so low you'd have to have at least a 50% fall in property prices to make a 7% gross return even. Last time I did some number crunching rentals yields here seemed around 3%.

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  • 1 month later...

Evidently its easier to get rid of tenants in furnished flats because you can legally remove all the furniture if they won't budge! Can someone confirm this ?

After reading what our dear housing minister said at weekend I don't think the rental market will ever be reformed and more aligned to European norms.

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  • 4 weeks later...
Evidently its easier to get rid of tenants in furnished flats because you can legally remove all the furniture if they won't budge! Can someone confirm this ?

Absolutely untrue! Any landlord who tried this (without an eviction notice from a court) would be in serious legal trouble.

They'd be facing steep fines, possible imprisonment and would seriously risk their status as a 'fit person' to be a registered landlord under the Anti-Social Behaviour etc (Scotland) Act.

The main reason that most lets are furnished are tradition (it's been this way for decades) and the 10% wear and tear allowance on furniture that landlords are allowed to claim to reduce their tax bill.

After reading what our dear housing minister said at weekend I don't think the rental market will ever be reformed and more aligned to European norms.

Luckily the Scottish Parliament is responsible for legislation covering this area and it's already passed laws that give tenants more protection than tenants in other parts of the UK.

However, the degree of protection offered to tenants in Germany is unlikely to be ever offered to tenants in Scotland or the rest of the UK unless the majority of people become renters.

The one downside to the protection offered in Germany and other countries is that prospective tenants are sometimes forced to jump through hoops to try to convince landlords that they'd be good tenants.

Landlords with quality accommodation in Germany are extremely wary of getting bad tenants since it's almost impossible to evict them under German law.

That's why they demand to see several references, job contracts (preferably for a permanent job), proof of income (and sometimes savings) and other evidence of suitability and also require hefty deposits.

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