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Published: 08 March 2019

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First Quarter News Update from Madeleine Graham - Letting Agent at Remax Dundee - March 2019

As your letting agent, Remax Lettings is registered  with the following bodies and complies with the following legislation: Scottish Association of Landlords, Scottish Register of Letting Agents, Professional Indemnity and Client Money Protection Insurance, PropertyMark, Level 6 qualification in Scotland for Lettings and Property Management, member of the redress scheme and is conversant with Anti Money Laundering and Data Protection legislation.

Did You Know :

Rent can only be increased once in a 12 month period and three months notice must be given with regards to an increase in the rental amount.

There is a minimum level of repair.

There is no fixed end date. Tenant only has to give a notice period of 28 days.

New EPC legislation is coming into effect. EPC ratings must be E or better for new tenancies by 01 April 2020 and for all properties by 31st March 2022. Then EPC ratings must be D or better for new tenancies by st April 2022 and for all properties by 31st of March 2025.

The additional Dwelling Supplement (ADS) applicable to investment properties costing over £40000 has increased from 3% to 4% with effect from 25th January 2019. If the transaction was entered into prior to 12th December 2018 this will not apply. Remember ADS is added onto the applicable LBTT ( land and buildings transaction tax).

The full copy of the newsletter can be obtained from the Remax Dundee office.