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Renting out my house - what do I need to do?

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  • 05-10-2008 4:54pm
    #1
    teachertrixibel
    Registered Users Posts: 108 ✭✭


    Hi there,

    I'm thinking about renting out my house and have someone coming to view it next week. What do I need to look for in terms of deposit, rent up front etc? Also, where would I get a copy of a lease agreement that I could use?

    Anything else I need to know??? Cheers,
    Trix


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    #2
    the_syco
    Registered Users Posts: 37,299 ✭✭✭✭the_syco


    Read this: http://www.prtb.ie/landlord_pubregfaq.htm

    And some of the links from http://www.boards.ie/vbulletin/showthread.php?t=52883


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    #3
    doctor evil
    Closed Accounts Posts: 3,114 ✭✭✭doctor evil


    Is this longterm or short term?

    If long term don't get into the mindset of 'how dare they change anything@', treat it as a house you rented out rather than your personal home.


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    #4
    Victor
    Registered Users Posts: 78,394 ✭✭✭✭Victor


    Will you be still living in the house?


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    #5
    malpas
    Registered Users Posts: 130 ✭✭malpas


    good advice above..a few other key points..no particular order.

    get references, home addresses, tel nos. of all tenants and talk to previous landlords .

    get deposit of one month's rent .

    get rent paid 1 month in advance (ie. you should get 1 month rent on the day they move in).

    Ideally get tenants to pay via bank standing order into your bank account.
    register tenancy with PRTB (cost €70 application form on their site).

    you may be liable for tax on rental received (less allowances such as mortgage interest, expenses etc) and should declare to Revenue.

    get all the PRTB explanatory leaflets and familiarise yourself with the many legal aspects of the Residential Tenancies Act 2004 ..this is very important as it is a legal and procedural minefield..get copy of Act if you really want to understand it.

    make sure you have a proper lease drawn up and signed by all parties, to include a contents list. Your solicitor can help as they are fairly standard.

    make clear your expectations regarding noise, condition of premises, garden, refuse removal, inspection visits, service charges, ESB, telephone..lease should include all this and more.

    That's my 2 cents..probably a lot more. Be professional, treat it as a business and treat your tenants with respect.


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