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How to rent a property for 1 to 4 years

  • 04-10-2021 9:05pm
    #1
    Registered Users Posts: 62 ✭✭ Middleage Fanclub


    So my Dublin city property will soon be vacant and I know I'll be selling it no later than 2026. Given current legislation gives any tenant a de facto six year lease and proposed legislation would do away with selling your property as a reason to terminate that 'lease', I'm considering selling up now.

    If I thought there was a way of finding a tenant who only wanted to rent for 1 to 4 years, I would consider renting again. But how to find such a tenant? All thoughts welcome.



Comments

  • Registered Users Posts: 394 ✭✭ Enter name here


    Sell now invest the money and sleep easy night after night.



  • Registered Users Posts: 5,368 ✭✭✭ JimmyVik


    Sell it. More legislation slated that may never allow you to sell it.

    At least not without leaving the tenant in it.



  • Registered Users Posts: 405 ✭✭ Emma2019


    Is there not a way to have a fixed term lease. A friend of mine is renting from two solicitors and gets a new fixed term lease every year so that it's not Part IV. But I don't know the legalities of it myself.



  • Registered Users Posts: 8,879 ✭✭✭ Caranica


    I'm on team sell it too.

    Otherwise look for someone who has to move out of their house for renovations/repairs. There are lots of posts on here every year of people needing houses for 6/9 months for these reasons.



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  • Registered Users Posts: 3,127 ✭✭✭ cruizer101


    If you are planning selling anyway you may aswell sell now. Its a sellers market and you don't know what the market will be in 2026.

    Another option might be short term lets, given you are in Dublin city Air Bnb might be an option though work involved on your side. Or if you let to students you can be pretty sure of getting it back, that said they may not take the best care, swings and roundabouts.



  • Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 61,070 Mod ✭✭✭✭ L1011


    The solicitors may think that prevents Part IV but it absolutely does not.

    She does not need to sign the new lease every year but it doesn't remove her Part IV rights anyway



  • Registered Users Posts: 5,504 ✭✭✭ Claw Hammer


    That does not mean that it is not Part 4. Both the terms of the lease and part 4 apply to the letting with the tenant getting the benefit of any term which is more advantageous to the tenant.

    The only way to have a letting is to have a letting for 4 years is to have a letting which is outside the scope of the RTb. Some people are doing digs arrangements with students to avoid tenancies.



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  • Registered Users Posts: 1,272 ✭✭✭ mrslancaster


    Are digs not in the owners home? If its not in the owners home how does a digs/lodger situation work



  • Registered Users Posts: 2,546 ✭✭✭ C14N


    Just a thought but if you really were against selling you could always try renting it out specifically as student accomodation, assuming it's near any third level institutions. A bit risky since students don't have the best reputation, and you will likely be passing up any rental income in the summer months, but students will pretty dependably leave during the summer. Students in general tend not to see their accomodation as their "home" in the way people working full time do.



  • Registered Users Posts: 5,504 ✭✭✭ Claw Hammer


    The owners go in and cook or send someone in. I knew one guy who had his daughters going in doing the cooking. They went in and cooked dinner in the evening and stocked the fridge for breakfast at the same time.



  • Registered Users Posts: 130 ✭✭ deise121


    sell and let a first time buyer who wants to own a home buy it



  • Registered Users Posts: 905 ✭✭✭ mistress_gi


    I'll be looking for a place in Dublin in the next few months. Depending where it is and rent I'd be interested 😁

    Maybe you found a tenant right here 😁



  • Registered Users Posts: 62 ✭✭ Middleage Fanclub


    Thanks for all the input. The student approach could work. I guess there is nothing stopping me from marketing the property as a 'medium-term' let and basically seeing what comfort can be drawn from the applicants situation.



  • Registered Users Posts: 387 ✭✭ J_1980


    Do repeated 3-6months short lets.

    bit of a hassle but there should always be people to take it (movers, etc).



  • Registered Users Posts: 5,368 ✭✭✭ JimmyVik



    I t be afraid of yet more overnight legislation though.

    Also if the person decided not to move out after 3 or 6 months you are snookered.



  • Registered Users Posts: 21,616 ✭✭✭✭ ted1


    That's why you rent it to people who have house but need to move out during renovations.



  • Registered Users Posts: 5,368 ✭✭✭ JimmyVik


    I think it might be a bit hard to find someone that specific though.

    But you never know maybe mistress_gi above is the answer to their prayers right here



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  • Registered Users Posts: 3 bridryan


    Renting it out to people doing renovations is a good idea. There are a lot of pyrite remediation work on houses going on where its taking 6 - 18 months.

    Another option is to rent to corporate - companies (especially tech) give relocation packages which includes the first couple of months accommodation.



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