Renting out a room

Dr Crayfish

Hi there all. Just looking for some suggestions here. How much would be the going rate for a double room in Dublin 5 at the moment? It would be sharing with myself in a 2 bedroom house. The interior is all brand new.
I was thinking €450? €500? I know 10 years ago I paid €500 for a room in a 2 bed apartment, but that was in Stoneybatter so maybe out of town should be less.
What would be a reasonable rent without ripping people off?
Thanks.

Graham

Take a look at the prices on Daft:

Double room, Dublin 5:

https://www.daft.ie/dublin-city/rooms-to-share/dublin-5/?s%5Broom_type%5D=double&s%5Badvanced%5D=1&s%5Bgender%5D=on&searchSource=sharing

Prices are mostly in the €450 - €600 range.

Will obviously depend a lot on the specific area, type of property and whether utilities are included.

MarkAnthony

Depending on location a double room could be anywhere up to €650 a month in D5.

I charge around €500 in Kilbarrack but we're new into the house and the interior is serviceable but not perfect. If you're in the 'nicer' areas of Raheny you can charge more, if you're out of the way a bit less.

Have a search on Daft.

Dr Crayfish

Hmmm thanks for input. Maybe 500 with no bills would be fair enough then. I guess I can put the ad out there and see what the response is like anyway. It's about a 12 min walk from Raheny dart station too so that's handy.

MarkAnthony

If you're on the Edenmore side I'd say around that. You could probably ask for bills on top of that. I ask for anything metered e.g. gas/electric and include everything else.

Dont forget: The income is tax free but MUST BE DECLARED. I'm sure there's some info on what forms you have to fill in come return time, you don't have to do it until you have at least a full 12 months so it'll be 2017's return.

Dr Crayfish

MarkAnthony wrote: »

If you're on the Edenmore side I'd say around that. You could probably ask for bills on top of that. I ask for anything metered e.g. gas/electric and include everything else.

Dont forget: The income is tax free but MUST BE DECLARED. I'm sure there's some info on what forms you have to fill in come return time, you don't have to do it until you have at least a full 12 months so it'll be 2017's return.

I didn't know you had to declare it. Thanks buddy. Yes it's the Edenmore side, quiet cul de sac. I just don't want to be ripping anyone off, I feel for anyone in this market now, but I just got the house and I could do with some more income, the price of doing the place up was rather costly!

MarkAnthony

Dr Crayfish wrote: »

I didn't know you had to declare it. Thanks buddy. Yes it's the Edenmore side, quiet cul de sac. I just don't want to be ripping anyone off, I feel for anyone in this market now, but I just got the house and I could do with some more income, the price of doing the place up was rather costly!

When I started renting a room here a friend gave me some very good advice which was to have a project in mind for the cash, we've been renovating - sounds like you're doing a similar thing or maybe building the savings back up. If you do that it's great as you have a plan and and end date and can see what you're getting each month. If you just let it become part of the expenses it's very hard to stop.

We had a great response and we're pretty close to you. It's hard fielding calls from some people but you have to be a bit ruthless. Both Edenmore and Kilbarrack are very popular as they're on the cheaper side but there are some really nice handy areas, and people like yourself which have done up places really nicely. Frankly also people know Northsiders are generally sound! :pac:

Best of luck with it! My final piece of advice if you'll permit me is go with your gut on a tenant. At the end of the day you have to share with them, so be choosey.

Dr Crayfish

MarkAnthony wrote: »

Best of luck with it! My final piece of advice if you'll permit me is go with your gut on a tenant. At the end of the day you have to share with them, so be choosey.

Well I was thinking of just asking them to send an email describing themselves. Someone tidy and similar to myself would be nice. I don't want to be in a situation where I'm not comfortable in my own house. Ideally I'd rent it to a mate or something but I don't have anyone looking for a room right now in my social circle.

MarkAnthony

Actually one last piece of advice :pac: Sorry can't help myself!

Do individual viewings. We did group viewings and talk about awkward.

It'll take a little bit longer to find someone but you also have a good excuse for anyone you don't want to view.

"Ah sorry have someone coming on Tuesday, I'll get back to you" Then a polite email back.

Dr Crayfish

MarkAnthony wrote: »

Actually one last piece of advice :pac: Sorry can't help myself!

Do individual viewings. We did group viewings and talk about awkward.

Yeah I did group viewings before with flatmates when we were looking for a new flatmate. Absolute awkward disaster!

Tilly

You can earn up to €12,000 without getting taxed.

Please see the following: http://www.citizensinformation.ie/en/housing/owning_a_home/home_owners/rent_a_room_scheme.html