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Renting out my apartment.

  • 15-06-2010 10:56am
    #1
    anbrutog
    Closed Accounts Posts: 386 ✭✭


    Hi all,

    I will be soon renting out my apartment and moving on ( renting another apartment with gf ). So really I just need to know what I should be looking out for.
    Is it worth going with a letting company or should I just do it myself on daft?? What benefits do I get with going with an agent?
    As a landlord , what other things do I need to do ( does my tax status change , do I have to have my property insured and alarmed , do I have to register with any particular bodies etc.. )
    To be honest , the whole thing is quite overwhelming and slightly daunting , so any help would be fantastic!!

    AB


Comments

  • #2
    edellc
    Closed Accounts Posts: 1,787 ✭✭✭edellc


    anbrutog wrote: »
    Hi all,

    I will be soon renting out my apartment and moving on ( renting another apartment with gf ). So really I just need to know what I should be looking out for.
    Is it worth going with a letting company or should I just do it myself on daft?? What benefits do I get with going with an agent?
    As a landlord , what other things do I need to do ( does my tax status change , do I have to have my property insured and alarmed , do I have to register with any particular bodies etc.. )
    To be honest , the whole thing is quite overwhelming and slightly daunting , so any help would be fantastic!!

    AB


    check out this in relation to what standards your apartment has to meet before renting
    http://www.citizensinformation.ie/categories/housing/renting-a-home/repairs-maintenance-and-minimum-physical-standards
    you will also need to pay tax on your rental income and insure and alarm it you also need to register with the PRTB - private resident tenancy board
    http://www.prtb.ie/
    I'd ring the prtb they will be able to guide you further


  • #3
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    IN theory will find tenants for you, arrange for rent to be paid into your bank account,you,ll have to tell him are you looking for working tenants, will you accept rent allowance tenant etc he ,ll prepare a lease, rental agreement, collect a deposit etc YOU should inform your insurance company ,take out public liability insurance if you decide to rent.ITS up to you , as to install an alarm or not. i know 2 landlords , they pay prsi, the tax they pay is very small, cos the mortgage is 12k, their rental income is ten k, plus you get tax credits for insurance, maintenance, mortgage tax credits.


  • #4
    anbrutog
    Closed Accounts Posts: 386 ✭✭anbrutog


    ricman wrote: »
    IN theory will find tenants for you, arrange for rent to be paid into your bank account,you,ll have to tell him are you looking for working tenants, will you accept rent allowance tenant etc he ,ll prepare a lease, rental agreement, collect a deposit etc YOU should inform your insurance company ,take out public liability insurance if you decide to rent.ITS up to you , as to install an alarm or not. i know 2 landlords , they pay prsi, the tax they pay is very small, cos the mortgage is 12k, their rental income is ten k, plus you get tax credits for insurance, maintenance, mortgage tax credits.

    Thanks for the info folks :)


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