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Advice renting out my apartment

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  • 04-10-2013 8:42pm
    #1
    what2do
    Registered Users Posts: 414 ✭✭


    It is looking likely that I may rent out my apartment in the near future so I'm looking for advice:

    Would you recommend using an estate agent - I have family around who would look after it... 8 yr apt with which I have few issues but I guess you can be guaranteed that would change!

    How much would you expect to pay an estate agent - annual fee or %

    Any other suggestions/ pointers gratefully appreciated!


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    #2
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    I wouldn't not bother with an estate agent. They generally don't get the highest rents possible. And then they take a cut from your rent.

    Your stereotypical ideal tenant for an apartment is a professional mainland European. They generally are zero problems compared to Irish people. I'm Irish and my parents experience Irish generally think they are fantastic paying their rent only a few days late. If you have an apartment in Dublin city you will have no issues letting it.


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    #3
    Moonbeam
    Moderators, Education Moderators, Society & Culture Moderators Posts: 18,953 Mod ✭✭✭✭Moonbeam


    I would rent it out yourself, all management companies/estate agents charge different amounts for renting it out and then monthly.


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    #4
    Horrid Henry
    Banned (with Prison Access) Posts: 100 ✭✭Horrid Henry


    I'd echo the other posters' views...cut out the estate agent and deal directly with the tenants.


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    #5
    frank8211
    Registered Users Posts: 306 ✭✭frank8211


    agree as above. Its very easy at moment as there is a huge shortage of accommodation


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    #6
    Santa Cruz
    Banned (with Prison Access) Posts: 3,126 ✭✭✭Santa Cruz


    Avoid Irish tenants. They have a negative attitude towards renting, landlords and minding property. Get a non Irish European professional, treat them well and have a maintenance plan ready for any issues so they can be dealt with promptly. I have rented two properties for the last 15 years this way and never a problem.


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    #7
    the world wonders
    Registered Users Posts: 489 ✭✭the world wonders


    Santa Cruz wrote: »
    Avoid Irish tenants.
    Discrimination on the basis of nationality is illegal under the Equal Status Act 2000.


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    #8
    Horrid Henry
    Banned (with Prison Access) Posts: 100 ✭✭Horrid Henry


    the world wonders wrote: »
    Discrimination on the basis of nationality is illegal under the Equal Status Act 2000.

    I don't think it's been suggested that the landlord give them confirmation in writing of why they're not being considered!


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    #9
    the world wonders
    Registered Users Posts: 489 ✭✭the world wonders


    Horrid Henry wrote: »
    I don't think it's been suggested that the landlord give them confirmation in writing of why they're not being considered!
    So your argument is that racial discrimination is A-OK as long as you can get away with it?


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    #10
    Horrid Henry
    Banned (with Prison Access) Posts: 100 ✭✭Horrid Henry


    the world wonders wrote: »
    So your argument is that racial discrimination is A-OK as long as you can get away with it?

    We're not a race.


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    #11
    the world wonders
    Registered Users Posts: 489 ✭✭the world wonders


    Horrid Henry wrote: »
    We're not a race.
    Equal Status Act, 2000
    (2) As between any two persons, the discriminatory grounds (and the descriptions of those grounds for the purposes of this Act) are:
    ...
    (h) that they are of different race, colour, nationality or ethnic or national origins (the “ground of race”),


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    #12
    Horrid Henry
    Banned (with Prison Access) Posts: 100 ✭✭Horrid Henry


    the world wonders wrote: »
    Equal Status Act, 2000

    I personally would have no issue with a landlord discriminating against people once he/she wasn't stupid enough to be overt about it.

    I have a rental property and there is no way on Earth that I would let it to certain nationalities or ethnic groups.


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    #13
    what2do
    Registered Users Posts: 414 ✭✭what2do


    I am adding to my original point now because I am going to be living abroad therefore I've decided that employing an agent is the way to go... had planned to have a family member look after it but think it would be easier if I just employed a professional

    Anyone any recommendations on retaining an agents - tips.. fees?!

    Thanks.


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    #14
    djimi
    Registered Users Posts: 13,237 ✭✭✭✭djimi


    From a tenants point of view its easier to rent through an agent anyway if the landlord is absentee; at least that way there is no issue with having to withhold rent for revenue.


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    #15
    Mrs OBumble
    Registered Users Posts: 25,955 ✭✭✭✭Mrs OBumble


    what2do wrote: »
    Anyone any recommendations on retaining an agents - tips.. fees?!

    Thanks.

    Choose an agency that specialises in managing rental properties, not one that's selling real estate and doing some rentals on the side.

    As well as fees, find out how the screen prospective tenants, how often they do inspections, how they make the inspection information available to you, what their threshold for checking maintenance costs with you is, how soon they start taking legal steps if someone misses a rent payment.


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    #16
    what2do
    Registered Users Posts: 414 ✭✭what2do


    Mrs OBumble wrote: »
    Choose an agency that specialises in managing rental properties, not one that's selling real estate and doing some rentals on the side.

    As well as fees, find out how the screen prospective tenants, how often they do inspections, how they make the inspection information available to you, what their threshold for checking maintenance costs with you is, how soon they start taking legal steps if someone misses a rent payment.


    Thanks for the tips - appreciated!

    Any suggestions on an agent - to be honest I had just contacted a few in the area however these would all sell houses as their main business.


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