Managing a Rental

Definitely not Sherry Fitzgerald, don't think they have a presence in managing in Midlands?

You will be looking at a small local estate agent. Best bet

Playing devil's advocate here- assuming mortgage is cleared & house is in mums name...

What does she want to do with the house?

If there's any decision making difficulties, now is the time to sort out *all* affairs. See the Assisted Decision Making Act launched April this Yr.

Im assuming she has full capacity. My thought at this stage would be on who is now legally responsible for the letting costs/ contracts/ taxes on letting this property? How do you protect her rental income, ensure she is the person benefiting from it? Who in the family could take on linking with management company, for potentially years?

I'd be seeking her solicitors support before doing anything more. Her circumstances have drastically changed. Multiple knock on effects on every option open to her, which some may not be in her best interests. As you said, your mums assets needs protecting & her needs must be met. What if they dramatically increase, even further?

Please consider selling. Single property letting is a mugs game. The taxman will take half the income and you've little to no protection from non paying/property damaging tenants. Former "accidental landlord" here. It's one thing to buy a property to rent but to rent out a place with so many memories, it's a nightmare waiting to happen. Done that, still scarred.

Well I have been nominated to look after this i suppose.

Do you have a signed Power of Attorney that you can show to estate agents, insurance companies, utility companies, her bank, the RTB, etc etc?

If not, then get your mother into her solicitor for advice on this before you try to do anything else. Because legally YOU cannot do much without it. And if the above are any good, they will refuse to talk to you without it.

Before you make any decisions, take a look at the fair deal scheme. Your Mum may not need a nursing home now, but she may need one in the future. It might be worthwhile passing the house over to your brother now, and let the time elapse so that its not included.

Also, if it stops being a parent's PPR, and they later sell it during their lifetime, they will have to pay CGT on a proportion of the gain from when it wasn't their PPR

Yes absolutely get an agent.

HOWEVER bear in mind that if she rents out the house, then it impacts her ability to use it in the Fair Deal.

https://www.citizensinformation.ie/en/health/health-services/health-services-for-older-people/fair-deal-scheme/

The thing is do you have tradesmen you can get fairly pronto e.g. plumbers … thing with letting agent in my experience is they throw enough work the way of these guys is they can access them quicker than civilians and they have the keys for access, follow up, making payment etc … obviously there is a monthly retainer for this, but fairly modest in the overall scheme of things, again in my experience

You will need power of attorney. If a tenant goes in and your mother becomes unable to manage her affairs there will be no one to take a case to the RTB or the Courts. You will needs access to the rent monies to pay fees as well.

A lot depends on the condition of the house and contents. To have a hassle free life the house needs to be in good condition and with good furnishings to attract a decent tenant. many old people let their houses go down and don't repair, upgrade or improve. Renting out a house with a single socket per room and a kitchen from a period drama set won't cut it. 50 year old sofas and brass beds are another thing to avoid It can be quite costly to put a house in a lettable condition. Just because your mother lived in it doesn't mean it is suitable for the rental market.