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Renting Property

Ireland - Renting Property


The average cost of renting property in Ireland is increasing. However, the national figures cover a wide range of price differences across the country. Rents in Ireland are on the rise, which is a very good thing for property owners. However, this is not favorable for tenants who have to pay higher rental fees. The average rent for private sector accommodation increased by 5.8% annually with rent for houses going up by 4.8% and apartments up by 6.4% in 2014.

Rental Prices in Towns and Cities (Per Month)

1.Carlow: £603
2. Cavan: £436
3. Clare: £511
4. Cork: £769
5. Donegal: £442
6. Dublin: between £1,119 and £1,937
7.Galway: £785
8.Kerry: £533

Typical Lease Terms

Anyone renting from private property owners in Ireland should have a contract or agreement in place. The contract is known as tenancy agreement. The agreement may or may not be in writing. There are two types of tenancy in Ireland, namely fixed-term tenancy and periodic tenancy. A fixed-term tenancy is an agreement that covers a specific period. It is normally set down in a written contract known as a lease.

The lease may be for any period but can range from six months to a year or more. According to the Residential Tenancies Act 2004, all tenants have the right to stay in rented accommodation for up to 4 years. This applies to both periodic and fixed-term tenancies. There is also a part 4 tenancy, which extends tenancy from 4 years to 6 years.

Moving to a new house is very exciting. However, understanding everything included in a lease contract is essential. There are a number of things to look for before you sign a lease contract.

The basics – The rule of thumb is to avoid spending more than 30 percent of your net income on rent. You need to understand that there will be a number of things that will need your attention as far as finances are concerned. These include school fees for your children, bills, and daily upkeep among others.

What is included – It is important to know if the rent charged covers water, electricity, heating, internet or cable costs before signing a lease contract. It is also important to know the average utility bills in the house as you prepare to move in.

Read carefully before you sign – Many people forget to read a lease contract before signing one. Get a copy of the rules and regulations from the property owner and ensure that you have gone through these before signing the lease.

Inspect the apartment first – Do not just sign a lease before inspecting the apartment you intent to rent. Conducting the initial inspection will help give you peace of mind. Some apartments may have problems that you may only know about through an inspection.

A short-term rental is also known as vacation rental. This refers to the renting out of a furnished apartment, home, or condominium for a short period. Many property owners lease out their properties on weekly basis but others lease them out per day/night. Owners of short-term rentals usually rent their spaces when they are not using them. A long-term rental refers to letting out property on a long-term basis and receiving monthly payments as rent.

When you rent a property in Ireland, you will have to pay a security deposit. There is no legal guideline to determine the cost of the deposit. However, most deposits are usually the equivalent of one month’s rent. Be sure to offer to pay the rent and deposit only after you are certain that you are comfortable with the condition of the property. In addition, make sure you are given a receipt after paying the deposit and avoid paying in cash. Deposits are normally paid directly to property owners or agents.

Furnished apartments come equipped with furniture and other things like basic kitchen appliances, tableware, and bathroom necessities such as shower curtains. The number of items you can get in a furnished apartment will be determined by the property owner.

Unfurnished apartments do not have furniture or kitchen appliances. These apartments are usually empty when leased out. Most tenants prefer unfurnished apartments because they offer them the option of furnishing their apartments as they wish.

Advantages of Furnished Apartments

• Saves money – You will save a lot of money on buying furniture and other household goods. This type of apartment is suitable for people who do not want to own furniture. You will not have your own stuff but you will still have numerous things to use.
• Easy to move – If you move often, you will probably want to keep your things to a minimum. Renting a furnished apartment will mean less spending on buying your own stuff. You can easily move from one place to another if you do not have many things to carry around while moving.

Disadvantages of Furnished Apartments

• High liability – You may not get your deposit back if you accidentally or intentionally damage a furnished apartment. You may also be forced to repair or buy new things if the original ones become spoiled.
• Less control – You will have less control over most of your décor and arrangement. You can buy your own things like wall hangings but will not have complete control over the general look of your apartment.

The type of property to rent in Ireland will be determined by how long you intend to stay in the country and whether you prefer to have a furnished or unfurnished apartment.


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