Edinburgh Landlords: How Royal Mile Property Management Can Boost Your Rental
Located in the Scottish capital city of Edinburgh, the Royal Mile is an historic street running between Edinburgh Castle and the Palace of Holyroodhouse. It’s approximately one mile long, and lined with historic buildings, attractions, shops, cafes, and pubs, which makes it one of the most popular tourist destinations in the city. The Royal Mile has been a main thoroughfare of Edinburgh for centuries. It has played a huge role in the history of the city and has been the location of several important events.
While the Royal Mile is best known as a tourist, shopping, eating, drinking and entertainment destination, there are some properties on the mile. Landlords interested in short-term lets may be drawn to this area due to its high popularity with tourists. It’s also a great location for students and young professionals looking to live in the centre of the Edinburgh action.
Why Renters Choose the Royal Mile
Location: As one of the most central and convenient locations in Edinburgh, living on the Royal Mile is an excellent choice for anybody who lives or works in the city centre and wants an easy commute. It’s also a big hit with short-term renters and tourists looking for somewhere to stay, thanks to the easy access to some of the biggest attractions in Edinburgh. St. Giles’ Cathedral, Edinburgh Castle, and the Palace of Holyroodhouse are all in walking distance.
History: Renting a place on the Royal Mile means you’re living in a part of Edinburgh with a very rich history. It’s filled with historic buildings, architecture and streetscapes.
Culture: The Royal Mile is a popular option for renters who want to live in a part of Edinburgh that’s buzzing with activity. The atmosphere is lively and vibrant, and there’s a rich cultural scene in the area with plenty of music, dance, theatre, and nightlife opportunities.
Why Work with a Royal Mile Property Management Company?
If you’re considering investing in Royal Mile property, or already have a property on the Royal Mile that you want to rent out, there are plenty of ways that a Royal Mile property management company can help you achieve your goals as a landlord.
Working with property management companies on the Royal Mile will give you access to a range of services, including:
Property Preparation
If you’ve recently invested in a Royal Mile property to rent, a good property management company can help you get it ready for a tenant. This might include services such as professional cleaning, redecorating, making repairs, conducting legal safety checks, and furnishing the property if required.
Advertising and Marketing
The Royal Mile is a key destination in Edinburgh for tourists and those looking to rent a place for the short-term in particular. Edinburgh itself is a popular destination, so the competition is very high for landlords regardless of whether you want to rent out your property to short-term or long-term tenants. Working with property management companies Royal Mile, you can improve your chances of tenants finding – and liking – what you have to offer. They’ll have access to marketing professionals including photographers, creative copywriters, and videographers who know what it takes to create a stand-out listing that grabs attention and generates interest in your property.
Tenant Checks and Screenings
Whether you’re renting to a tenant who’ll be living in your Royal Mile property for the long-term, or handing the keys over to somebody for a short-term stay, you’ll want to know that they can afford to pay the rent and can be trusted to look after your property while they are there. When appropriate, your property management company on the Royal Mile will conduct a variety of checks to ensure you’re getting the right tenant for you. This could include background, employment, affordability, credit, criminal record, and reference checks for your peace of mind.
Rent Collection
Do you dread the idea of dealing with a tenant who never pays their rent on time? With a Royal Mile property management company, you can leave this hassle to somebody else. Along with drawing up tenancy agreements and determining a due date for rent, your property management company can collect the rent directly from the tenant, and then pay it to you minus their fee. Plus, they will handle any issues that might arise, such as chasing missed or late rent payments, or adjusting for tenants who may request to change their payment date.
Repairs and Maintenance
The Royal Mile is filled with historic, beautiful buildings which only adds to the charm and appeal of the area. However, one of the downsides of investing here is that with an older property, you may need to carry out more frequent repairs and maintenance to keep it in top condition. Instead of taking time from your busy day to do this, you can leave it to a Royal Mile property management company who know what it takes to keep a rental property in top shape. They will have partnerships with local, trusted contractors and tradespeople who you can rely on to get the job done.
Handling Emergencies
Whether you’re renting out a property on a short-term or long-term agreement, there’s no denying that emergencies can happen. Burst pipes, leaking roofs, broken locks, and other wear and tear can happen and cause problems for the tenant who may need help to put things right. But as a landlord, you don’t have to live your life worrying about when your tenant is going to call about one of these situations. When you work with a good Royal Mile property management company, you can rely on them to handle it on your behalf. Many offer Royal Mile property management and protection helplines for tenants. They’re available around the clock to answer calls and messages and send out professionals to make repairs if necessary to keep your tenants comfortable and property safe.
Is the Royal Mile an appealing investment opportunity for you? At UpperKey, we can help you get the most from your investment with our range of short- and long-term property management services. Supporting Edinburgh landlords like you is what we do best! Contact us today to find out what we can do for you.