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Renting for the first time

  • 13-06-2017 11:27PM
    #1
    orchidsrpretty
    Registered Users, Registered Users 2 Posts: 2,154 ✭✭✭


    I am about to move out from my home and I am considering renting it out. is there anywhere I can check whats the market rent in a area? I have looked on Daft but there are no properties near me that are up for rent so wouldn't have a clue what to ask for.
    If I go the estate agent route what kind of fees would I be looking at?


Comments

  • #2
    Ms Doubtfire1
    Registered Users, Registered Users 2 Posts: 1,422 ✭✭✭Ms Doubtfire1


    you can check the market rents here

    http://www.daft.ie/report
    download the PDF and scroll down halfway
    I think fees by estate agents can vary and unless they also manage the property I wouldn't involve them - they cost more than they are worth


  • #3
    Michael D Not Higgins
    Registered Users, Registered Users 2 Posts: 7,223 ✭✭✭Michael D Not Higgins


    Estate agent will charge, usually, one month's rent to get a tenant in, one month's rent for every new lease signed, and an ongoing percentage (which I don't know what the going rate is but is dependent on the services you want, e.g. rent collection, inspections, etc.).

    For just valuing the rental rate, you could look at nearby towns or there is also the RTB rent index. The rent index is somewhat poor for basing a valuation though since it shows averages for a property type and not market rate. For example, Blackrock Co. Dublin 2 bed apartments shows 1450 average for last year. I can't find a single 2 bed under 1800 near Blackrock.

    You say there's no rentals near you, is that because it's a rural area? There may be lower demand in your area. How far away are the nearest rentals and how old are the ads? This should gauge the interest in the market.

    You may also want to consider the tax implications and may want to speak to a tax advisor before entering into the rental market.


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