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Renting out a house, long lease preferable...?

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  • 22-03-2012 8:10pm
    #1
    billy few mates
    Registered Users Posts: 6,920 ✭✭✭


    I was hoping someone with a bit of experience in this field might be able to advise me as to what would be a typical rental period for renting out a house.
    I have a house to rent out which isn't my main residence and there are tenants interested in renting it for one year and three years. Which of these would be the more desirable lease from a landlord's point of view and are there any pitfalls to be aware of if deciding to offer it for the longer lease...?
    Thanks.


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    #2
    pawnacide
    Closed Accounts Posts: 228 ✭✭pawnacide


    All tenancies beyond six months are what's called Part 4 tenancies under the 2004 tenancies act and give all tenants certain rights .. you need to look at PTRB.ie as I'm not going to go into detail that's already freely available. The only need I personally can see for a lease beyond 6 months is to have a formal record of the property's inventory etc and if you want specific terms in the agreement such as pets, maintenance of water softener etc etc.


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    #3
    billy few mates
    Registered Users Posts: 6,920 ✭✭✭billy few mates


    Thanks for your help and advice Pawnaside, we're going to go with a twelve month lease to start off.....


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    #4
    djimi
    Registered Users Posts: 13,237 ✭✭✭✭djimi


    Id probably go with 1 year if I was a landlord. 3 years gives you more security in the sense that its harder for the tenant to leave, but its also harder for you to get them out if needs be, plus you would be fixing the rent for 3 years (which could be a good thing or a bad thing depending on which way rents are going in your area).


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