First Time Landlord: Costs
Inheriting a property, relocating for work, or moving to a larger or smaller property are just some of the reasons that someone could find themselves in the position of owning a property that they don’t live in. A decision then has to be made what to do with the property; sell, leave it empty, or find a tenant. For many, who do not want to sell their property, finding tenants is the best – and most financially viable – option.
We have put together a list of common set up costs for new landlords to help when making the decision to rent a property. All prices displayed on this website are accurate at the time of publication. Pricing may change without prior notice due to supplier updates, market conditions, or other factors beyond our control. We aim to update our website as quickly as possible whenever we are notified of any changes.
Clan Gordon Fees
New Tenancy Set up Fee: £300 inc VAT (1/2 to £150 inc VAT should the tenancy last less than 6 months). This includes marketing shots, virtual tour, floorplan, viewings, third party referencing and the Tenancy Agreement.
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Safety checks – Initial Safety checks will take place with an individual electrician and plumber
Electrical Installation Condition Report (EICR) – This will last you five years.
Annual safeties: Landlord Gas Safety, CO alarm check, PAT on up to 15 appliances, legionella risk assessment and fire alarm checks.
We will instruct one of our SELECT or NICEIC regulated electricians to complete an Electrical Installation Certificate Report (EICR), Fire Alarm check and PAT testing (up to 15 appliances) - £241.80 inc VAT.
We will instruct our Gas Safe Engineer to complete a Landlord Gas Safety on all appliances including the meter, CO alarm check and legionella risk assessment - £120 inc VAT.
OR for non-gas properties, a legionella risk assessment only - £75.00 inc VAT
Woodburning Stove Certificate, this will be carried out by a HETAS registered engineer - £110 inc VAT.
Additional costs will apply for any CO alarm moved or added to comply with regulations.
A quote will be provided for any remedial work required to bring all safety checks up to a satisfactory manner.
Read further information on safety certificates here.
Safety checks – renewals will take place with a third-party contractor
All safety checks will then be renewed through a third-party contractor. Their costs are as follows:
Safety checks gas package price (Gas safety, CO check, Portable Appliance Test, Legionella Risk Assessment, smoke alarm check) - £131.55 + VAT (£157.86 inc VAT).
Safety checks package price without gas (Portable Appliance Test, Legionella Risk Assessment, Smoke alarm check) - £109.44 inc VAT.
HMO safety checks – Gas package price (Gas safety, CO alarm check, Portable Appliance Test, Legionella Risk Assessment, Smoke alarm check, emergency lighting, fire extinguisher check) - £290.40 inc VAT.
HMO safety checks – non gas package price (Portable Appliance Test, Legionella Risk Assessment, smoke alarm check, emergency lighting, fire extinguisher check) - £242 inc VAT.
Lead testing
There are two possible options should we need to carry out lead testing through our Water Safe Plumber.
The cost of carrying out the visual inspection only and creating the report will be £78 inc VAT.
The cost of the visual inspection plus arranging to send the sample (including the laboratory costs for analysis) will be £140 inc VAT.
Inventory costs
6 Bed - Fully Furnished = £199.54 Unfurnished = £185.47 inc VAT
5 Bed - Fully Furnished = £171.40 Unfurnished = £157.33 inc VAT
4 Bed - Fully Furnished = £140.45 Unfurnished = £129.19 inc VAT
3 Bed - Fully Furnished = £129.19 Unfurnished = £107.44 inc VAT
2 Bed - Fully Furnished = £107.44 Unfurnished = £89.53 inc VAT
1 Bed - Fully Furnished = £89.53 Unfurnished = £75.47 inc VAT
Cleaning costs
Cleaning prices vary depending on the size of your property and the level of cleaning required. Factors such as the number of bedrooms and the type of clean - sparkle, moderate or deep clean - will influence the final cost.
Additional services are also available:
- Internal window cleaning: approximately £45
- Oven cleaning: approximately £40
Minimum call-out charges are typically in the region of £80–£100.
Read 5 Benefits of Using a Property Management Company.
Contact us to arrange a valuation for your Edinburgh rental property, including a personalised plan to get your property ready for rent and tips to maximise your rental income.