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Renting First Time House

  • 26-05-2015 3:28pm
    #1
    Happy Monday
    Registered Users, Registered Users 2 Posts: 1,216 ✭✭✭


    I am renting my own house out for the first time.
    All helpful suggestions appreciated. :)
    It's in Athenry, Co. Galway.
    3 bed semi detached.
    Should I let as a holiday home or to individuals?
    Do I need to register with the PRTB?
    Will they destroy the property?
    How much should I charge?
    Insurance needed?
    Should I go with daft.ie?
    Anyone on here want to rent a room? :D


Comments

  • #2
    Gumbo
    Moderators, Society & Culture Moderators Posts: 40,354 Mod ✭✭✭✭Gumbo


    Happy Monday wrote: »
    I am renting my own house out for the first time.
    All helpful suggestions appreciated. :)
    It's in Athenry, Co. Galway.
    3 bed semi detached.
    Should I let as a holiday home or to individuals?
    Do I need to register with the PRTB?
    Will they destroy the property?
    How much should I charge?
    Insurance needed?
    Should I go with daft.ie?
    Anyone on here want to rent a room? :D


    Holiday or rental - only you can decide. Is there a holiday market?
    PRTB - yes it's a legal requirement on your behalf to register the tenancy.
    Property Destruction - without a crystal ball, can't answer. Be carful picking tennants and vet them and check references.
    Insurance needed - yes, You need landlord insurance. All the insurance companies offer it but it's slightly different to standard house insurance so you must specify it when getting a quote.
    Daft.ie - it's really the main place people look. Why advertise anywhere else tbh.
    Rent a room - that's different. You have less obligations when you remain in the house and only rent a room out. Plus you have less tax implications also.


  • #3
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Make sure you've run through the implications with an accountant - they save more than they cost. At least do the first couple of years with one.

    Use an agent to rent the place initially, they'll cost about the same as a solicitor drawing up the lease if you shop around. They'll also take better photos and potentially have access to a couple of different sites.

    Make sure you approach this as a business and know the minimum standards and adhere to them. Carry out repairs in a timely manner, try and keep things in writing. Do regular but not intrusive inspections.

    Can't think of anything else right now.


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