Residential to airbnb

How come you can't rent it? Posters here are saying there is a housing crisis and its impossible to find anywhere to rent...

How much you renting it for, i will gladly rent it off you

If you check rent.ie now there are over 5 pages of places to rent only in Dublin 1. That is a lot of rentals available in one spot.

Perhaps this is why you find hard to rent it out.

They said 5 pages. Plus it’s in Dublin 1 so a bit of a dodgy area!

Sorry, I didn’t read your post properly!

If its D1 its city centre so there will always be a major tourist market.

Even if its in a rough part of D1.

How much are you charging in rent and how much is the mortgage per month? I sense you’re probably trying to charge extortionate rent and nobody is willing to pay it.

An indian guy that works with me is looking to move himself and wife from Galway to Dublin.

He was asking me where to rent and I gave him some options with good transport options including Dublin 1.

First thing he said was, what about the riots and violence in the city center? Dublin 1 has been tarnished and that will take a while to wear off.

The market for a rental in Dublin that's longer than two weeks but less than six months is probably fairly small. Your chances of filling the place consistently throughout the year are slim, so odds are you'll get less in the end going that route than you would by just doing a long-term rental at a reasonable market price.

What are you asking for rent? Market rates for a two-bed in D1 would probably range from a couple grand for a place in a seedy location to a few grand for a new build in the Docklands. A lot of new landlords make the mistake of assuming that if the rent isn't at least double their mortgage payment then they're "losing money", which isn't the case; you'll have negative cash flow, but you are still making a profit in the long term via building equity in your property. If you can't afford to sustain that negative cash flow but market rents for a property like yours in that area are not more than double your monthly repayment, then you simply can't afford to be in the landlord business, and you'll need to consider selling instead.

Why not just hire cleaners that don't require cash so you can write it off? Maybe you are happy to clean it yourself, but I'd rather someone else do it myself.

A few people asked what the rent is?

Are you getting viewings but no takers or no interest at all?

Is it in an ok part of D1 or one that, let's say, could be better?

Basically, if you haven't had any takes in this market, you are asking too much.

Advertised prices are not an indication of people actually paying that for them. Even if they are, 6k for July and nothing for the rest of the year is equivalent to 500 quid a month.

OP a friend of mine is using a service now that leases your house off you for the year and then "airbnbs" it themselves and splits the profits with you. It gets around the 14 days rule somehow because they are taking it for 14 days, not the people who stay in it. Im sure its a bit more nuanced than that though. I'll ask for the company name.

I wasnt really paying attention but i think they lease it for a tiny amount for a year. They then advertise it or maybe even put it on airbnb or similar. Then They pay you x amount based on what the guests have paid and they organize the cleaning etc and take a cut and the cleaning fee. He seems happy with it anyway.

Somehow they get around the 14 day rule whether its becaiuse they took it for more than 14 days themsleves or they give it to guests who stay a few days but pay for 14 days. eg if the cost for their 5 night stay was €1000. Then "officially" they pay 1000 for 14 days but only stay 5. I'll find out more.

Or possible, they just made up their "own" version to entice property owners & rely on weak enforcement until they get caught and dissappear😂

My post on Airbnb rents was in reply to this by OP:

"Looking on airbnb now can see 2 beds that can be taken for 6k in July. Anyone doing this ?

It's not possible to know / guarantee €6k can be achieved. If you don't ask for it you won't get it, but the property could end up vacant in July, or rented for considerably less. Airbnb will have its saturation point of supply outstripping demand too.

I understand about posting actual rent which is why I said ball park. OP has not mentioned selling. It is an option I suggested.

So what is the actual law on it then?

Its a company that is providing this service as far as i know. Im playing golf with him next month i'll find out more about it.

You'd be doing very well to actually let it for each period for a grand.

The middleman doesn't change anything

I know for a fact a relative of mine is getting €4k for a 3 bed house in Co. Dublin for less than a week in June when they are going on holidays. They asked my mother would she be around to hand over the key and show the guests around the house if needed.

So if a house or apartment was available all year I guess there will be times when they get more and times when they get less or even nothing.

Im sure he has weighed up the pros and cons of renting, selling or airbnbing and this option suited him best. If it were me I would be selling for sure.

Well when I said 14 days, it should actually be more than 15 days and he is hunky dory.

I guess also the fact that im staying in a house myself in the summer from an ad I saw and paying cash to the person when i get there might be a sign that not everything is going to be as traceable as people seems to think anymore. Its can easily go back to how it was just over a decade ago. Owner puts up an ad somewhere (probably not airbnb or booking.com or any of the usuals anymore, given they are being targeted specifically and are a bit too good to themselves with their charges) You look up a property for rent. You phone the owner. And you pay them cash. You might send them a deposit to book the place. Its only less than a decade since everyone always did it this way. Im sure we can learn to do it again. I did it last year and doing it again this year. Its not hard.