Letting out a property: do it myself or through an agent?

D

Dmoore

Guest
I have decided to rent out my apartment in Balbriggan from mid September. Is the rental market strong enough in Balbriggan at the moment to find tenants by advertising it myself or should I go through an agent?
 
Dmoore,

Advertise it on Daft.

Make yourself available for 2 days to let people see the property, pick whoever you want.

Go and see the people every month to collect the rent and have a quick inspection. Tip when you are inspecting the place have a look at the grill pan if that is dirty then you can be guaranteed the whole place is filthy.

I investigated the notion of getting an agent to look after my place for me, I just decided that I was not going to pay someone 6.5% of a year's rent it's almost a full month when you add on the 21% vat.
 
S.L.F said:
Dmoore,

Advertise it on Daft.

Make yourself available for 2 days to let people see the property, pick whoever you want.

Go and see the people every month to collect the rent and have a quick inspection. Tip when you are inspecting the place have a look at the grill pan if that is dirty then you can be guaranteed the whole place is filthy.

I investigated the notion of getting an agent to look after my place for me, I just decided that I was not going to pay someone 6.5% of a year's rent it's almost a full month when you add on the 21% vat.
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You must get yourself some fairly meek tenants,because i wouldn't put up with u "calling" every month.I wouldn't pay you at the door either,that's what banks are for and they also provide you with a genuine receipt.
 
coolhandluke said:
You must get yourself some fairly meek tenants,because i wouldn't put up with u "calling" every month.I wouldn't pay you at the door either,that's what banks are for and they also provide you with a genuine receipt.
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I agree with this, tenants have a right to "peaceful enjoyment". If you want to regularly inspect the property you'd be better going with an agent and having that arrangement built into your contract both with them and with the tenant.

If you do it yourself, ensure your tenant has a way of contacting you in an emergency and abide by the 48 hour rule* for gaining access yourself if you need to go into the property.

*= tenant is entitled to 48 hours notice (in writing) of your intention to visit the property to carry out inspections and repairs unless it's an emergency.
 
coolhandluke said:
You must get yourself some fairly meek tenants,because i wouldn't put up with u "calling" every month.I wouldn't pay you at the door either,that's what banks are for and they also provide you with a genuine receipt.
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Some of my tenant's don't want to pay by bank and the rent has to be collected weekly...... What do you mean by genuine receipt, if I write a receipt on the back of an envelope and sign it it is a genuine receipt. What in any case is wrong with a landlord calling every month? It means they care about the property and that it's kept in good order.
 
Bronte said:
Some of my tenant's don't want to pay by bank and the rent has to be collected weekly...... What do you mean by genuine receipt, if I write a receipt on the back of an envelope and sign it it is a genuine receipt.
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It's hardly official though is it,i have 2 years rental tax credits built up on 2 seperate lets.When i come to claim it ,the details i have are sketchy at best ie.the landlords name and the address of the place i actually rented. I can however prove payment if required by revenue.

Bronte said:
What in any case is wrong with a landlord calling every month? It means they care about the property and that it's kept in good order.
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Afaic, it is an unwelcomed annoyance and i certainly wouldn't put up with it.I would tolerate 1 maybe 2 inspections in a 12 month period but certainly not every month.If there's a problem i'll let the landlord or agent know.
 
S.L.F said:
Dmoore,

Advertise it on Daft.

Make yourself available for 2 days to let people see the property, pick whoever you want.

Go and see the people every month to collect the rent and have a quick inspection. Tip when you are inspecting the place have a look at the grill pan if that is dirty then you can be guaranteed the whole place is filthy.

I investigated the notion of getting an agent to look after my place for me, I just decided that I was not going to pay someone 6.5% of a year's rent it's almost a full month when you add on the 21% vat.
Click to expand...


Good advice, and as an experienced landlord, I agree.
 
S.L.F said:
Tip when you are inspecting the place have a look at the grill pan if that is dirty then you can be guaranteed the whole place is filthy.
Click to expand...

If that was the case, I'd have been evicted long ago :D good job I'm owner/occupier.
 
coolhandluke said:
You must get yourself some fairly meek tenants,because i wouldn't put up with u "calling" every month.I wouldn't pay you at the door either,that's what banks are for and they also provide you with a genuine receipt.
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What has this got to do with the thread?

But in answer to your query I get great tenants because I tell them how it is before they walk in the door, if they don't like it move somewhere else.

My tenants get a place that is well kept, costs below the market value, bright cheerful plenty of windows, I constantly update it, had floors re-sanded recently and re-painted.

Every new tenant I get gets their own new toilet seat (everyone loves this)

All someone needs before they move into my flat is a bottle of fairy liquid and bed clothes everything else is there for their use.

I as a LL am quite entitled to inspect my property if I so choose.

I don't go barging into someones home and demand to see it, I view it about once every 3 months but I never give an exact time.

However they always know I'm going to call to get the rent every month so they tend to be more circumspect about my property.

Agents won't call every month to get the rent.

coolhandluke said:
Afaic, it is an unwelcomed annoyance and i certainly wouldn't put up with it.I would tolerate 1 maybe 2 inspections in a 12 month period but certainly not every month.If there's a problem i'll let the landlord or agent know.
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AFAIK it is not unwelcome annoyance if it has been agreed before starting the lease
 
gerry m said:
being a landlord is time consuming and hard work, weigh up the pros and cons before deciding if you will manage the property yourself or hire an an agent.
Read this article to help your decision
http://www.irishlandlord.com/index.aspx?page=infocentre_article_view&id=21

Good Luck
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Just read this and have come to the conclusion that agents are not worth their weight in gold

Advertise the property...........................10 minutes work
· Arrange viewings ................................Mainly means you are answering your phone every few minutes to answer querys for about 2 or 3 days.
· Screen Tenants and check references.....Go with your instincts refs are not always on the level and agents can cock up too.
· Complete the lease agreement................Less time then it takes for you to sign an agreement with an agent
· Register with the PRTB..........................10 minutes to fill a form in and send it
· Ensure the rent is paid on time................An agent can't guarantee that
· Deal with on-going repairs......................You'll have that anyway
· Handle tenants issues and complaints.......as above




Bubbly Scot said:
If that was the case, I'd have been evicted long ago :D good job I'm owner/occupier.
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Don't make me come around there and inspect it.:D

Maybe I'll send instead
 
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I had a fairly major problem with my agent - he ended up causing me more headaches than he solved. I am now getting a family member to look after the property, and I am having to follow up with a solicitor to ensure that the totally rubbish agent doesn't get too many more chances to do this again.

This is the thread I started - perhaps read it before you think of getting an agent. I did ask for recommendations before I got him, and I looked around at other agencies - he seemed the best of them all, but he was still rubbish.

http://www.askaboutmoney.com/showthread.php?t=86747&highlight=incompetent+letting+agent
 
For the least hassle, depending on the property and location, try to let unfurnished. This makes the tenant more responsible for ongoing maintenance of contents including insurance costs. Also, make sure you have a solid Rental Agreement which covers all aspects of your let. Use electronic payments (standing orders) for rent - no need to check property every month - if you've done your homework on the selection process (which can easily be done through a combination of focussed filtering, following up bank and previous landlord references, and gut feeling) then you'll know you have tenants who want to live in a nice place. No agents - 1 month per year rental income for very little, if any, service which you can easily provide yourself. Draw up a plan for the rental process and stick to it.
 
I would let the property myself its not that hard to do just place add in Daft and wait. Make sure you get 1 or 2 reference and a lease drawn up but as for choosing who to rent it to you would be as good if not better to decide this yourself.
 
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