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Doing up a house to rent

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  • 01-07-2012 11:44pm
    #1
    done4now
    Registered Users Posts: 106 ✭✭


    Not sure if this is the correct place to be asking but anyway. My dad owns a house in the town centre of Claremorris, Co Mayo and it hasnt been rented for the last 5 years.

    I would really want to get the house working again but living in Belfast doesnt help matters. I havent been in the house in a few years but from what I can remember it has a very dated kitchen, dated bathroom (I think), been told the central heating system needs to be replaced.

    What I would like to do is replace kitchen/bathroom/central heating system but I have no idea how much this would cost.

    I have been told it would cost €30k-40k but not sure if that is someone trying to scare me?

    What would be the best approach to get his house working again? Should I do it up in stages with someone in the house?

    My dad was getting €800 per month for the house when it was rented (was actually rented as an office) but I do no think it would get that now? I had a quick look at daft and the going rate seems to be around €500.


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


    You'd need to wander about the house during the day to know.

    Bits to look out for; signs of flooding, burst pipes, rodents, mould, and also check if there is any insulation at all? Also check out the attic to see if there's any missing tiles.

    The kitchen... once it has a working cooker, fridge, etc, not many people care if it looks dated or not if the rent was decent. If the rent doesn't go towards a mortgage, maybe buy new cooker/fridge in 6 months time (don't say you'll do this to the tenants, in case anything crops up, though).

    The central heating system would be one cost that would have to be taken into account, but the rest, meh.

    Without looking around it, I can't say how much it'd cost, but if you asked a broke out of work builder, I'm wonder if they'd say €40k to ensure a lot of work for themselves? Heck, a "new kitchen" could cost 25% of that 40k! Depends who you ask, and what they'd gain.


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    #3
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    It will need to be done up to rental standards. See here
    http://www.citizensinformation.ie/en/housing/renting_a_home/repairs_maintenance_and_minimum_physical_standards.html

    I don't think 40k is a mad figure, particularly if you want to tackle insulation as well.


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    #4
    Baralis1
    Registered Users Posts: 350 ✭✭Baralis1


    If you are going doing up the house, you would need to do it up and have it finished and ready to rent before the tenants move in. It wouldn't be fair on tenants to be living in a constant building site while the renovations are ongoing and to have tradesmen wandering through their home on a regular basis. That is unless some tenant is willing to put up with this for a cut in the rent but most wouldn't.

    Also, even though rents may be advertised for around 500, the actual going rate could be 450 or 400 especially in a rural town like Claremorris and for a house that's not a modern build. You'll know by how fast the turnover of properties is if you keep an eye on daft.ie or one of the other property websites.


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