How Much Do Landlords Make In Scotland

Considering becoming a landlord and wondering if it is worth your time? There are several factors that come into play when trying to determine how much you can make as a landlord in Scotland.

Location & Size

A key factor in how much a landlord can make is the location of the property. Scotland is home to many colourful cities with a massive ranger of qualities that help appeal to people looking to rent a property!

Glasgow

Glasgow is the biggest city in Scotland, and is very lucrative to potential renters due to its vibrant nightlife and wide range of choices on the high street and the national football team’s home stadium. The average cost of monthly rent for a 1 Bedroom flat outside of the City Centre ranges between £350 – £550. For a 1 Bedroom property inside the City Centre prices range from £450 – £750. For landlords letting out larger properties in Glasgow the average monthly rent cost for a 3 Bedroom property outside of the City Centre is between £600 – £1300 and between £950 – £1500 inside the City Centre.

  • 1 Bedroom Outside City Centre: £350 – £550
    1 Bedroom Inside City Centre: £450 – £750
    3 Bedroom Outside City Centre: £600 – £1300
    3 Bedroom Inside City Centre: £950 – £1500

(Glasgow Rental Costs information provided by Numbeo)

Edinburgh

Edinburgh is capital of Scotland and with that it has many qualities that will appeal to potential renters, including the very high profile Christmas market. The Scottish parliament building and of course Edinburgh Castle is right in the heart of the city. For 1 Bedroom properties outside of the City Centre in Edinburgh rent is estimated to range from £450 – £700 while similar sized properties inside the City Centre are estimated to range from £600 – £900. For larger 3 Bedroom properties outside of the Edinburgh City Centre the rent can range from £800 – £1250 per month while similar sized properties located inside the City Centre will range from £1200 – £2000.

  • 1 Bedroom Outside City Centre: £450 – £700
  • 1 Bedroom Inside City Centre: £600 – £900
  • 3 Bedroom Outside City Centre: £800 – £1250
  • 3 Bedroom Inside City Centre: £1200 – £2000

(Edinburgh Rental Costs information provided by Numbeo)

Aberdeen

Aberdeen or as it’s also known as “The Granite City” due to half the buildings in the city being built from granite. The city is also well known to hold a record for the most whiskey distillers in Scotland. Not to mention the cities numerous golf courses. The average rent on a 1 Bedroom property outside of the Aberdeen City Centre ranges from £390 – £650 and for similar sized properties inside the City Centre is £450 – £750. For 3 Bedroom properties outside of the City Centre the rent can range from £750 – £1200 and for similar sized properties based inside the City Centre the rent can range from £900 – £1500.1 Bedroom Outside City Centre:

1 Bedroom Outside City Centre: £390 – £650
1 Bedroom Inside City Centre: £450 – £750
3 Bedroom Outside City Centre: £750 – £1200
3 Bedroom Inside City Centre: £900 – £1500

(Aberdeen Rental Costs information provided by Numbeo)

Dundee

Home of the Dundee Law, a war memorial that many consider a must see landmark in the city. Dundee is also well known as the city where major game development company Rockstar North was founded! The rental prices for a 1 Bedroom property outside of the Dundee City Centre range from £375 – £450 while a properties of similar size based inside the City Centre cost from £450 to £560 while a 3 Bedroom property based outside of the City Centre will have a rental price from £650 – £950 and a similar sized property based inside the City Centre will come with a rent of £700 – £1200.

1 Bedroom Outside City Centre: £375 – £450
1 Bedroom Inside City Centre: £450 – £560
3 Bedroom Outside City Centre: £650 – £950
3 Bedroom Inside City Centre: £700 – £1200

(Dundee Rental Costs information provided by Numbeo)

Inverness

Inverness is the largest city in the Scottish Highlands and is home of Loch Ness, making it a popular attraction for those visiting the Northern region of Scotland. The rental prices for a 1 Bedroom property outside of the City Centre range from £450 – £500 while a similar sized property inside the City Centre has a rental price between £400 – £600. For a 3 Bedroom property outside of the City Centre the rent will cost around £650 – £850 and similar sized properties based inside the City Centre will have rent set between £600 – £950.

1 Bedroom Outside City Centre: £450 – £500
1 Bedroom Inside City Centre: £400 – £600
3 Bedroom Outside City Centre: £650 – £850
3 Bedroom Inside City Centre: £600 – £950

(Inverness Rental Costs information provided by Numbeo)

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Perth

Once the Capital City of Scotland. Perth is still littered with wonderful architecture and beautiful scenery. On average rental prices for a 1 Bedroom property outside of the Perth City Centre will be between £300 – £450 while a property of the same size inside the City Centre will be between £475 – £520. Meanwhile a 3 Bedroom property outside of Perth’s City Centre will have a rental value between £600 – £1000 while a similar sized property will have a rental value between £550 – £12500.

1 Bedroom Outside City Centre: £300 – £450
1 Bedroom Inside City Centre: £475 – £520
3 Bedroom Outside City Centre: £600 – £1000
3 Bedroom Inside City Centre: £550 – £12500

(Perth Rental Costs information provided by Numbeo)

Stirling

Home of another historic Scottish Castle and place of the Historic Battle between the Scottish & English. Stirling is now a hot spot for students due to the popular university based just outside of the City. On average the rental value of a 1 Bedroom property based outside of the City Centre in Stirling is around £450 while a similar sized property inside the City Centre will have a rental value of around £500-£520. Meanwhile a Property with 3 Bedroom based outside of the City Centre will have a rental value of around £500 – £795 while similar sized properties based inside the City Centre will have a rental value of around £850 – £1000.

1 Bedroom Outside City Centre: £450
1 Bedroom Inside City Centre: £500 – £520
3 Bedroom Outside City Centre: £500 – £795
3 Bedroom Inside City Centre: £850 – £1000

(Stirling Rental Costs information provided by Numbeo)

Expenditures

When you’re a landlord there are certain responsibility that fall on you and often these can become quite expensive.

Landlord Registration Fee

When you want to rent out a property you own in Scotland you are required to register with a local council as a landlord. This usually comes with a registration fee which can vary depending on the council, although the fee usually around £65. The landlord registration scotland site can provide you with more information on this fee.

Energy Performance Certificate (EPC)

An Energy Performance Certificate is required to provide potential tenants with an indication of how energy efficient a property is. An EPC can cost somewhere between £45 – £100 and if your property fails to meet certain legally enforced standards then your property will not be eligible for rental and failure to comply with this can result in a fine of up to £4000. If you would like to read up more on an EPC then epcregister.com can provide you with more information)

Electrical & Gas Safety Certificates

Another certificate that landlords are required to get are Electrical and Gas safety certificates. These certificates are required in order to show that your property meets the regulated safety requirements and both require fully qualified engineers to provide them. The Electrical Safety Certificate can cost anywhere between £100 and £250 depending on the size of the property while the Gas Safety Certificate can cost around £75. These prices do not include any repairs that may end up being required after the safety checks, for more information on these certificates check out ElectricalSafetyFirst for more details on the Electrical Safety Certification check and British gas for more details on the Gas Safety Certification .

Legionnaires Disease

Legionnaires Disease is a potentially fatal form of pneumonia. It can be caused by the inhalation of the small droplets contaminated by Legionella. As a landlord you’ll be expected to take measures to prevent your tenants from being exposed to this. That means you will be legally required to assess the risk of this happening and take any necessary steps to prevent it. Testing kits can cost around £45 however, any repairs required could cost much more.

Total Expenditure

If you do decide to try your hand at becoming a Landlord with a Scottish property the expenses can pile up, looking at all the things we have covered in this blog post you could potentially be looking at overall expenses between  £535 and that’s before any repairs or insurance fees, which can vary depending on the property.

• £65 – Registration Fee
• £100 – EPC
• £250 – Electrical Safety Certificate
• £75 – Gas Safety Certificate
• £45 – Legionella Testing Kit

Conclusion

Becoming a landlord in Scotland (Or anywhere!) is a very risk bit of business. A lot of responsibility for both the property and the well being of any tenants falls on the landlord. However if you have a good property in the right location you could stand to make a very lucrative amount of money and finding the right tenants could make it feel much more rewarding.

 

 

 

 

 

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