Letting & Management

One of the first considerations people have is what to leave, or what to put in. We would say aside from the main furnishings, remove anything that has monetary or sentimental value. Items such as cutlery and crockery are supplied by the tenant.  We prepare a detailed initial inspection report to advise you in this area and can arrange and coordinate any recommended works. We recommend professional photography for advertising purposes. This can be done for a nominal cost and the photos can be used for all future lettings.

Initially we will discuss tenant criteria with the landlord.  Any tenant we recommend will be vetted and have met the agreed criteria.  The landlord will have final say on tenant selection.

Prior to a tenant moving in the following will need to be finalised:

• One month’s rent in advance and one month’s deposit paid upfront
• Signed lease agreements, drafted in accordance with the Residential Tenancies Act
• Utility bills must be either transferred or cancelled
• An inspection report needs to be prepared which will incorporate the inventory.  A virtual tour will be done to supplement this
• A standing order for the rent should be set up
• The tenancy needs to be registered with the private Residential Tenancies Board (RTB)

Ideally there would be no maintenance issues; however the owner needs to prepare themselves for such eventualities. We have experience in dealing with every type of problem and draw on the expertise of our fully certified team of sub-contractors. In our experience, maintenance problems need to be dealt with quickly. They don’t go away and can manifest with poor tenant relations and/or potential further costs. With this in mind we have favourable credit terms with our sub-contractors allowing us to attend to maintenance issues efficiently. Prior to any maintenance work being carried out, the client is informed, with problems reported, solutions explained and costs agreed.

Income is the most important aspect when renting a property and should be prioritised. We use a customised software package to track rents when they come due. Late rents need to be acted on immediately with a resolution found promptly. Rent is unlike other bills in that it’s a fixed monthly payment that we expect tenants to pay without delay. In the unlikely event that the rent is significantly late, we advise the owner the steps necessary to resolve the situation.

Not only is good account management essential to measure and monitor your investment, it is required when completing your tax returns. Landlords are sent monthly statements together with original copies of any maintenance invoices to ensure transparency. Annual year end account summaries are available on request, making life easier for you or your accountant when completing your tax returns.

Under the revised Residential Tenancies Act, provided the rent does not exceed market rent, it can be increased by the rate of inflation, capped at 2% every 12 months, for more information see our guide for Rent Caps (need hyperlink here)  Regardless of whether there is a changeover of tenant or an increase in rent, rental properties need to be registered with the RTB annually.  The RTB charge an fee of €40 and we handle all registrations.

Inspections are carried out in the below circumstances:

• During the changeover of tenancies
• If there are complaints from neighbours the management company
• If there are excessive or complex maintenance issues reported
• On an ad hoc basis at clients request

Reports are issued together with photographs, which give a good indication of the condition of your property and will help you factor in future investment.  We would caution against doing too many inspections as they can present the tenants with a forum for frivolous requests which will have to be considered.

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From the outset the deposit should be retained separately and not treated as rental income. This will facilitate prompt refund provided the rent has been paid in full and the property has been left in suitable condition save for normal wear and tear. Normal wear and tear is extremely subjective and difficult to assess. In short a landlord can’t expect the property to be in the same condition as it was at the commencement of the tenancy. At the end of the tenancy, we carry out an inspection and this report will include recommendations regarding the deposit refund.

For our letting and management service we charge 6% of the monthly rental income, payable on collection. There are no upfront letting or renewal fees. The service is comprehensive, incorporating; letting, registrations, maintenance, rent collection, account management and lease renewals. Our fee is designed to be competitive and by charging in this manner there are obvious cash flow benefits for the client. Please note our fee is subject to VAT at 23%.