Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Handing yer gaff over to a property management company...

Options
  • 13-04-2010 8:47pm
    #1
    Bass Cadet
    Registered Users Posts: 719 ✭✭✭


    Have tried searching the forum on information about this but cant seem to get a specific answer

    Basically the long and short of it is, I own a house in Galway city. I currently live in California. I have two tenants in the house and am currently trying to fill the 3rd room. It's proving to be a right pain in the arse. Im a bit of a control freak so didn't want to hand my house over to a property management company before I left...(silly I know)

    Aaaanyway, what exactly is the procedure with getting a property management company to take care of all this stuff so I don't have to?
    Do the two existing tenants stay there?
    should I give them notice?
    What is the usual percentage that these companies take of rental income?
    Is it worth it? etc etc

    Any help or info appreciated!

    by the way, with 3 in the house rental income per month is €1050 at the moment


Comments

  • Options
    #2
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Firstly as a non resident landlord are your tenants paying 20% of the rent direct to Revenue? They should be.

    Are you registered with the PRTB? - you should be

    We used managers in the past, fee for finding tenants was about 1 months rent, management fee 5-10% per month.

    In truth, you're probably better off to find a trusted family member or friend to look after the place, and maybe give them something for their time. At least they'll ultimately have your best interests at heart. Agencies tend to be all about the financial bottom line.


  • Options
    #3
    Bass Cadet
    Registered Users Posts: 719 ✭✭✭Bass Cadet


    athtrasna wrote: »
    Firstly as a non resident landlord are your tenants paying 20% of the rent direct to Revenue? They should be.

    Are you registered with the PRTB? - you should be

    We used managers in the past, fee for finding tenants was about 1 months rent, management fee 5-10% per month.

    In truth, you're probably better off to find a trusted family member or friend to look after the place, and maybe give them something for their time. At least they'll ultimately have your best interests at heart. Agencies tend to be all about the financial bottom line.

    Ya, revenue is sorted and all that...Actually, would handing it over to a property management company change any of that?

    I've tried the family member thing and friend thing but either they're too busy themselves or stuff just doesn't get taken care of quickly enough


  • Options
    #4
    Oliver1985
    Registered Users Posts: 1,304 ✭✭✭Oliver1985


    Whats a gaff???


  • Options
    #5
    Bass Cadet
    Registered Users Posts: 719 ✭✭✭Bass Cadet


    Oliver1985 wrote: »
    Whats a gaff???

    A small hut in the middle of a woods that house forest folk


  • Options
    #6
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Oliver1985 wrote: »
    Whats a gaff???

    You've never heard of the term "gaff" being used as an expression for ones house? What???:eek:


  • Advertisement
  • Options
    #7
    Idbatterim
    Registered Users Posts: 17,852 ✭✭✭✭Idbatterim


    The only comment I have is stay in California! dear god stay there! the place is heaven on earth! Ill be doing the lotto tonight, hopefully Ill see you there next week! :)


  • Options
    #8
    Oliver1985
    Registered Users Posts: 1,304 ✭✭✭Oliver1985


    stepbar wrote: »
    You've never heard of the term "gaff" being used as an expression for ones house? What???:eek:

    :D


  • Options
    #9
    BostonB
    Closed Accounts Posts: 18,056 ✭✭✭✭BostonB


    Bass Cadet wrote: »
    Ya, revenue is sorted and all that...Actually, would handing it over to a property management company change any of that?

    I've tried the family member thing and friend thing but either they're too busy themselves or stuff just doesn't get taken care of quickly enough

    You might have the same problems with a management company.


Advertisement