Advice needed about letting a house

A

amy1

Guest
Hi to all

As you will see I am new to posting on this site but have found invaluable information on here over time.

I need advise on how best to rent my house. This will be our first time renting it so I would appreciate any advise as how best to go about it. Would it be better to get a letting agent involved?If not how do I go about letting the house?
 
If you can at all manage it yourself, then do so. Plenty of horror stories about letting agents getting up to all sorts, ****ing both landlord and tenant off. Direct contact between the landlord and tenant in a single house letting is the way to go.

Stick it on DAFT after preparing it well for its letting and taking plenty of nice pictures. Price it reasonably and if you want it let quickly then price it below comparable properties on DAFT.

You will exclude a large potential market if you dismiss Rent Supplement tenants out of hand so I wouldn't. I would accept Rent Supplement tenants but vet them like any others.

Check references, for what they're worth and above all, use gut instinct when picking a tenant (if you're lucky enough to have a choice). Most tenants are good people, but a bad one will cost you time and stress. Good luck!
 
Thanks very much for you reply. If and when we let the house we will be living about two hours away from the house..do you think we are still better to try and let the house ourselves.

Also I am wondering as this is our first time letting when would I need to contact a solicitor about getting a lease in place and how long are leases usually for i.e. 6 months/ 1 year? Would you advise to definitley have a lease agreement in place?

I am sorry if these questions are a bit silly but we are totally new this and like many others here it was not really our choice to become landlords we just are not able to sell the house.
 
You can easily manage a modern house from 2 hours away. It won't need your constant attention (with luck). I wouldn't however volunteer that information to the tenant however, no harm having them think you're a bit closer (to give the impression that you can easily keep an eye on the place).

You should definitely use a standard lease agreement off the internet for use by irish landlords. Do not waste the money on a solicitor for this. The lease a solicitor will use will be an off the shelf one anyway! If you want the one I use then send me a PM with your email address and I'll send it to you.

Leases are typically 1 year jobs. 1 months rent as security deposit and rent paid in advance. Make sure you have your 2 months rent in your hand before handing over the keys!

My main bit of advice is to treat it like a business and run it professionally, even if you are an accidental landlord. Don't take sh!t from your tenant but at the same time, if something needs sorting, sort it.
 
Yes we are lucky that it is a modern house so fingers crossed it will not need our constant attention.

We were concerned about being the two hours away as after reading here a lot of horror story's about agents we are keen to let the property ourselves.

Thank you very much for all your advise especially re the lease as we would have gone down the solicitor route.
 
Amy1 - I would agree with murphaph re using a standard lease but would just give a word of caution. Once your tenants have been renting for 6 months they are entitled to stay as tenants for a further 3 and a half years. It's known as a part 4 tenancy - you can read about it on citizens information website.

A 1 year written lease won't mean the part 4 tenancy doesn't apply - it will apply.

Good luck, I would also agree you should be able to deal with being landlord without employing a letting agency.
 
Amy, if you check on the web you will find some basic lease agreement paperwork.Also 2 hours is not to far away.I would put add on Daft.ie and maybe pick a Friday evening and a Saturday for the viewing.
You can you look for refs but you still need a bit of luck when it comes to getting the right people.
You need month's rent up front and a month's deposit, a small bit of advice give the house a real good cleaning and a fresh coat of paint and don't forget to have the coffee maker on for viewing,people love the smell of coffee.
Best of luck, did you get the house rated for energy.
 
Check the house over thoroughly to make sure any minor repairs are dealt with. Check that all electricial appliances are in full working order. Take lots of photos which can be used afterwards to resolve any disputes. List all items of furniture etc supplied and get them agreed with tenant.

Remember you have the right to inspect your property at agreed times and be sure that clause is in the lease.

We usually mow lawns and trim hedges ourselves (at times suitable to both parties) which gives us good opportunity to visit and get to know our tenants. We are about 1.5 hours away from the rented property.
 
Hi amy1,

Just one more piece of advice!

Collect the rent personally. It may be a pain to do the drive but you can gauge problems faster and tenants can leave some maintenance issues on the long finger. But by putting in an appearance, they may mention stuff that needs to be done. It also helps you build up a relationship with the tenant - just like any business!

Best of luck.
 
Do not use a letting agent, register with the PRTB, pay the new property tax, vet your tenant's thoroughly, advertise on Daft, know your market, even new houses will require maintenance, visit the property regularly particularly at the beginning, do the gardening and outside maintenance yourself. Read the many threads on here in relation to how to be a landlord and also on the nightmare stories. Big deposit, utilities in tenant's name and rent up front. Make sure you treat it as a business.
 
thinkofaname said:
Hi amy1,

Just one more piece of advice!

Collect the rent personally. It may be a pain to do the drive but you can gauge problems faster and tenants can leave some maintenance issues on the long finger. But by putting in an appearance, they may mention stuff that needs to be done. It also helps you build up a relationship with the tenant - just like any business!

Best of luck.
Click to expand...

As a tenant, I would never entertain such an arrangement.

If the landlord wants to arrange an inspection, grand.
However, to expect me to spend my lunchhour queueing for a bank draft, or walking home with a month's rent in cash, is unreasonable.
 
thinkofaname said:
Hi amy1,

Just one more piece of advice!

Collect the rent personally. It may be a pain to do the drive but you can gauge problems faster and tenants can leave some maintenance issues on the long finger. But by putting in an appearance, they may mention stuff that needs to be done. It also helps you build up a relationship with the tenant - just like any business!

Best of luck.
Click to expand...
If a landlord tried to pull this one on me he would find himself wasting many journeys before he got the message.
 
Buddyg said:
If a landlord tried to pull this one on me he would find himself wasting many journeys before he got the message.
Click to expand...
Then you'd be in breach of your tenancy agreement, assuming the rent is to be collected in person on a set day/time and that has been stipulated in the agreement.

I have the rent collected personally too and my tenants are fine with it-they are even flexible in so far as they would pay it a day or two early if it was more convenient for me and I would do the same for them if they were away on holidays etc. Saves them the hassle of bank transfers and as already said, gives them a chance to tell you of minor issues that you can get sorted before they become bigger issues.

Tenants who treat their home/my property with respect have NO problem with their landlord calling round once a month to collect rent. It also affords my agent (family member, NOT letting agent) the chance to sign their rent book and give them their receipt. It's difficult to sign a rent book without having it in your hand-I presume Buddyg would prefer to go out and post it to the landlord and have it posted back to him lol!
 
murphaph said:
Saves them the hassle of bank transfers
Click to expand...

How is a bank transfer more hassle for the tenant?
Your way requires the tenant to go to the bank every month for cash, vs setting up one standing order at the start of the year.
Then availablity of either party, holidays, etc, don't come into it at all.
 
murphaph said:
Tenants who treat their home/my property with respect have NO problem with their landlord calling round once a month to collect rent. It also affords my agent (family member, NOT letting agent) the chance to sign their rent book and give them their receipt. It's difficult to sign a rent book without having it in your hand-I presume Buddyg would prefer to go out and post it to the landlord and have it posted back to him lol!
Click to expand...

Rent books? What decade are we living in.

I have always paid my rent by bank transfer (I would avoid standing orders, less flexibility in budgeting).Takes 1 minute online. Any landlord that stipulated rent books and monthly visits would not be getting my business and I suspect many others. That is how it works in most decent quality rentals.

If for some crazy reason I did decide to let my landlord collect rent once a month they wouldn't be getting their nose past my door. if you want to setup an inspection then explicitly set one up. Any more than once every 3 months and I would make a point on wasting your time.
 
I'm glad you're not my tenant and I'm sure you're glad I'm not you're landlord-we wouldn't be well suited to each other lol.

A rent book is as good as a load of loose leaf receipts. I like to use it and my tenants always ask that I or my agent signs it when paying the rent so thyey have a record of payment (perhaps for their CWO, I don't know). My tenants have no probs with me coming into their home once a month or whenever there's a problem to investigate/fix. They keep the place lovely so why would they? Perhaps tenants with something to hide feel differently.

My tenants are not native english speakers, so perhaps they are more comfortable with someone calling around so they can show us any problems rather than having to describe something over the phone etc.

My tenants prefer cash. I will not refuse cash if that's how they want to pay. Perhaps they don't trust the irish banks not to go bust overnight! If my tenants wanted to change to bank transfer I'd accomodate that, but that's because I know them now and I trust them, having developed a good relationship with them. At the start though, collection in person and a chance to look the place over is a must. A LOT of damage could be done in 6 months!
 
Another one her for the bank transfer - I use to see my landlord 3 times a year maybe and that was plenty small talk for me.

I wouldn't have been interested in taking out cash weekly/monthly.

My bank statement was proof of rent paid so I didn't need a rent book.
 
Hmmmm, maybe I'm just a more personable landlord than most lol. Having said that, I helped my tenants a lot with the utility companies at the start of their tenancy as they weren't confident dealing with them over the phone. There was a particular problem with their ISP that they needed help with as they couldn't understand the technician on the other end of the phone. Little things can go a long way and I hope I have these tenants for a long time. I keep the rent a touch below the market rate to keep them happy.
 
WOW!

Didn't realise my advice was going to create such a reaction. Response has shocked me.

I deal with a number of rental properties - mainly on a maintenance basis but for one or two landlords I also collect the rent.

I am aware that there can be conflict between landlords and tenants but I find that where the landlord and their agents are reasonable and fair that it is possible to have a cordial working relationship.

Hope this doesn't put you off amy1.
 
Berni said:
How is a bank transfer more hassle for the tenant?
Your way requires the tenant to go to the bank every month for cash, vs setting up one standing order at the start of the year.
Click to expand...

I have some tenant's that pay weekly in cash, we've tried to move them to bank transfer but no go. Rent is left in the rent book in the property to be collected by my agent. It's a legal obligation to have a rent book as far as I know. The tenant's like it so far as I can tell and so does the agent as it's a clear record of what is paid. From a landlord's perspective it's good to see how the property is. If tenant's have an issue than they can leave a note etc. Most of my tenant's are foreign nationals and they need help sometimes with things that are not related to the tenancy. You'd be amazed with the grief they get from certain parts of the Irish state.
 
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