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Renting for first time. Need advice.

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  • 19-07-2010 10:25pm
    #1
    Tender Hoop
    Closed Accounts Posts: 167 ✭✭


    I will be moving overseas soon for work and will returning infrequently so I have decided to rent out my apartment.

    I rented it out before informally and it did not work out well so I want to do it properly this time.

    I am in the process of registering as a landlord.

    I do not want to use a agent. My friend lives very close by and and has agreed to be the first point of contact for the tenants.

    My question is:

    What documents should be requested form tenants? Previous landlord reference? Work reference? How many?

    Is there anywhere I can get a good generic tenant agreement?

    Should I ask for a deposit of one months rent plus one months rent in advance??

    Any other tips from people who have gone down this road?

    cheers.


Comments

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    #2
    Citizenpain
    Registered Users Posts: 1,908 ✭✭✭Citizenpain


    Check out myhome.ie---there is a standard agreement there


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    #3
    rx8
    Registered Users Posts: 1,822 ✭✭✭rx8


    As you are going to be out of the country,do your self a big favour and use an agent, I can definitely recommend Bell Properties,they will look after everything for you for a fee of about 10% or maybe less.They will advertise your property, meet prospective tenants,vet them,sign them up with a lease agreement,do an inventory of your contents etc.,and be the point of contact for any problems that arise.
    If your friend is looking after things for you, and you get the tenant from hell, it won't be long before they get fed up with all the phone calls and niggly problems.
    I don't think also that you can register as a landlord until you have a tenant and all their details, (pps no. etc.)
    Myself and the OH have an apartment let out and we look after it ourselves,but I have to say we have been really lucky with the tenants we have had. The OH works for a developer and looks after over 100 rental properties for them, and they still have to use an agent for some of the vetting and signing up stuff.

    Don't look at it as your home any more,just an investment,and understand that to pay the mortgage you must have a tenant in place, so if you have to reduce the rent to do this, then you must compromise on some things and trust the agent to have your interests at heart.
    Best of luck with it though, hope it goes well for you!


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    #4
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    Theres info here for a 1st time landlord,
    http://www.boards.ie/vbulletin/showthread.php?t=2055971255
    and link to tenancy agreement too.
    You need passport, ID,letter stating tenant is working at company x, full time,permanent employment,1 payslip too.You need to know tenant can afford to pay the rent.
    ASK where are you living now, where did you live 2 years ago.IF Advertising ,state would suit working person, ie =will not take rent allowance, you do not have to take a rent allowance tenant,ie someone on welfare,its upto you.
    if theres a couple,2 people,both should sign the lease ,tenancy agreement.


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