Lettings today: what landlords and tenants need to know

Oct 22

4 min read

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Edinburgh is a draw for people looking for a great place to live – thanks to, in no particular order, its many attractive areas; 144 parks; beautiful scenery; numerous bars and restaurants; good schools; ease of getting around town – and much more.

As council leader, Jane Meagher, comments in the City of Edinburgh Council’s 2025 Edinburgh by Numbers report, the capital “continues to punch far above its weight as a place to live, work, invest in and visit.”

It’s therefore no surprise that many people want to make the city their home – and for renters, there’s lots to consider when exploring their options.

We spoke to Nicky Lloyd, head of ESPC Lettings, for insights on where to rent without breaking the budget and how prospective renters can get a head start on finding their ideal home.

What renters need to know

The first thing that prospective renters need to know is what they can expect to pay. Recent ONS (Office for National Statistics) data shows that renting private property in Edinburgh costs on average £1392 per month, (up by 1.6 per cent on last year) – compared with £1002 across Scotland as a whole. However, renting in the capital can cost much more than the average, with some properties renting at £4000 per month and upwards.

Location is of course high on the agenda too and for those interested in the up-and-coming parts of town, Nicky says: “The neighbourhoods of Gorgie, Dalry and Meadowbank offer affordable homes, as well as remaining in close proximity to the city centre. Backed by entertainment hubs like Fountain Park, these areas are rapidly evolving, alongside Polwarth, which offers attractive tenement housing by the Union Canal.

Other areas are a little pricier and may appeal to those with a broader price range, as Nicky explains: “The New Town and West End remain the most expensive areas, thanks to their period properties, central location and demand from professionals. Bruntsfield and Marchmont also command high rents due to their popularity with both families and students.”

Wherever they decide to live, there are ways that home hunters can potentially ease the process of finding their ideal property: “Tenants should register with a trusted, local lettings agency such as ESPC Lettings, as agents often alert registered tenants to properties before they appear widely online,” says Nicky:

“It’s also worthwhile signing up for alerts on local, major rental platforms such as Citylets, which provides a broad overview of the current market. Viewing quickly, having documents ready and being clear on ‘non-negotiables’ also helps secure the right property.”

What landlords need to know

ESPC expanded its services into the lettings sector in 2013, since when it has helped hundreds of landlords and buy-to-let investors, through its lettings services, which range from buy-to-let advice through to full property-management services.

Nicky shares her thoughts on some of the main things that prospective landlords need to know about letting property in Edinburgh, as well as key points for those thinking about easing the burden, if currently managing properties themselves.

She says: “Managing a property can be time-consuming and complex. Landlords often find it challenging to keep on top of compliance, with ever-changing legislation, such as safety certificates and tenancy rules. Dealing with maintenance, tenant communication and arrears can also be stressful without professional support.

“A strong letting agency offers expert compliance management, marketing reach, tenant vetting and round-the-clock support. They ensure landlords remain legally compliant, reduce the risk of void periods and take the hassle out of day-to-day management. The value is not just financial: it also means peace of mind.

“Agents understand realistic rental values, trends and what types of properties are most desirable in the area, ensuring landlords can maximise income while attracting the right tenants. They’re also aware of local regulations, and upcoming developments that could affect property value.

“Landlords should look for experience, strong knowledge of the local market, transparent fees and proven compliance expertise. A good agency should also offer clear communication, reliable tenant vetting and strong marketing reach to minimise void periods.”

Landlord and tenant relationships

There are key points for landlords to bear in mind, when seeking to retain tenants for the longer term, says Nicky:

“Providing a well-maintained property, being responsive to tenant needs and setting a fair rent are key to retaining good tenants. Flexibility on lease length and investing in modern amenities can also encourage tenants to see the property as a home rather than just a short-term option.

“Fast broadband, modern kitchens and bathrooms and efficient heating are typically at the top of tenants’ wish lists. Increasingly, storage space, outdoor areas and energy-efficient features are also becoming essential.

What’s next?

As technology evolves, the process of letting or renting property is changing, says Nicky:

“Technology is transforming the lettings process, making it faster, more transparent and more convenient for both landlords and tenants.

“Traditional listings have largely been replaced with virtual tours, 3D walkthroughs and high-quality photography, allowing prospective tenants to explore properties remotely. Virtual viewings also minimise the need for in-person visits, saving time for all parties.”

Looking to the future, innovation will continue to shape the future of lettings, as she adds:

“Artificial intelligence and automation will play a bigger role, from smart tenant-matching systems to predictive maintenance alerts for landlords.

“Digital platforms will streamline referencing, applications and contracts, making processes more efficient and secure. Smart home technology will also become increasingly important, as tenants look for energy efficiency and convenience.”

www.espc.com