Blog post by Amy Carpenter, Robert Keegan and Owen Reilly, May 13th 2016
The rent increases in the private rental sector are well-documented. The Daft.ie Rental Report for Q1 2016, published on Tuesday, informed that rents rose for the fifteenth consecutive quarter with an average rent increase of 9.3% in the year to March. The limited stock is also well-documented and the challenge for the newly-designated Housing Minister, Simon Coveney, is to find the ways and means to motivate construction. Our experience this year is of an increasingly competitive marketplace. In March we let a one-bedroom apartment in The Waterside at Grand Canal Dock for €1,400 while in April we rented an equivalent one there for €1,500; the latter was on the market for one week. More recently we let a one-bedroom apartment in Hanover Quay (pictured) for €1,500; it was on the market for two days. So, for those that don’t have a cousin with an empty room, or a friend who is a letting agent, read on; we have gathered our top tips…
Happy landlords and happy tenants – that is our goal
As letting agents, our role is to manage the letting process for our landlord clients; in an ambiguous rental marketplace, we advise on the presentation and pricing, we market the property and then we complete the paperwork in line with best practice and to ensure that our landlords and clients are compliant. Fundamental to a successful letting is the selection of the tenant/s; we want tenants who will pay the rent on time, who will take care of our landlords’ property, who will not disturb their neighbours and who will be fair and pleasant to deal with – in relation to routine entry to the property, re-negotiation of rental agreements and other matters that arise. From first meeting we begin to form impressions of potential tenants and, throughout the application process, we form views about who might be the best choice. Our selection process is rigorous because we want to make our best recommendation.
Our top tips for renters
- Set up alerts for yourself on Daft.ie so you will be the first to know about new properties coming to market.
- Come to the viewing on time; in the current market we do one viewing for each rental property.
- Be prepared to submit your interest by e-mail immediately following the viewing; we start to deal with expressions of interest immediately.
- Be prepared with a current employer’s reference and a current landlord’s reference, a current bank statement and an ID; we will ask you for these as soon as we have received your written expression of interest.
- Get a detailed landlord’s reference; it can make the difference.
- Be prepared to complete our application form; we will ask you for this as soon as we have received your written expression of interest.
- Be prepared to answer additional questions about your situation; we are not being nosey – our clients sometimes ask us for more information.
- Landlords generally do not have storage space and, generally, will let their property as offered on the market; we would probably recommend that you would not ask for too many changes.
- Be nice to letting agents; we are here to help…
Blog post by Amy Carpenter, Robert Keegan and Owen Reilly, May 13th 2016
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