Landlord Info
Every home is different, with a varied appeal to potential tenants, Choices must judge each property for the rent it can achieve, the type of tenant it will suit and the owner will accept. Only discussion with the landlord and a personal inspection of the property by Choices' staff can set the scene for a successful letting. Knowing and understanding what tenants expect in today's market Choices will advise what rent can be expected.
Marketing Your Property To Let
After an initial visit to your property where rent and length of lease have been established, letting particulars are prepared. Details for your property are conveyed to our list of selected applicants. Unless otherwise arranged we always accompany potential tenants when viewing the property. We advertise daily in the local press and your property will be included at regular intervals until a suitable tenant is found. References: Where required, we take up necessary references e.g. financial/employer and previous landlord if applicable.
Choices will draw up a tenancy agreement and have it tailor- made where necessary, and arrange for the tenant to call to our office to sign.
Owners letting their property for the first time should ensure that all appliances are in good working order, i.e. washing machine/cooker/fridge/freezer. We recommend landlords ensure all utilities are fully set up for new tenants. I.e. refuse collection, gas and electric supply. Nothing is more likely to start a letting off on a bad footing if a tenant finds that the heating or vacuum cleaner etc. does not work when he first comes to use it. The cost of repairing faulty appliances is borne by the landlord-except where the work to be carried out has resulted from neglect or damage by the tenants.
Gas/electricity/telephone supplies should always transferred into the tenants' name
A deposit of one months rent is collected from the tenant at the commencement of the tenancy. This deposit can be used to repair or replace any damaged items other than the normal "wear and tear" that occurred during the tenancy. The tenancy agreement also states that if the tenant vacates the property prior to the end of the tenancy agreement, without finding an approved replacement, the cost of replacing a tenant will be paid through the deposit.
To protect your property it is very important to have an up date inventory. Choices can provide this at a cost of €150.00.
Renewal Tenancy Agreement
Choices here instructed will draw up a new tenancy agreement where the original tenant wishes to remain in the property.
As you can see from the above letting procedure we take the responsibility very seriously. We feel it necessary to point out that if a landlord decides not to take the management or rent collection services then he needs to remember that both collecting the rent or checking bank accounts are very important. Landlords should check their accounts a few days after the rent due date to ensure the rent has been lodged. We suggest the landlord make frequent visits to the property during the tenancy. Some landlords initially decide to handle the property themselves but decide at a later stage to take up one of the management options. We would be delighted to discuss a landlords requirements at any time.
The let only fee is one month's rent inclusive of VAT
We are acutely aware of the demands associated with the management of a property. We provide a comprehensive service which will deal with all aspects of management and remove from the landlord the need for involvement on a day to day basis. Our management service includes, renting your property, rent processing collection, property visits, financial statements, dealing with maintenance issues, 24hr emergency line, transfer of names on utility bills, inspection at end of tenancy, insurance claims. Our fee is 12% of the annual rental income +21.5% VAT.
For owners who require a complete refurbishment service for their property, Choices will be happy to offer a competitive quote.
Tax Benefits
All management fees may be tax deductible. For further advice you should speak to your accountant.
What is a Management Company?
A management company is a company set up to manage and service the common areas of an apartment or townhouse development. Each owner automatically becomes a member of the management company upon purchasing their apartment or townhouse. The management company is overseen by a board of directors. The directors will be the property’s developers at the outset who are then replaced with residents once all of the units in the development have been sold. In the interim, a residents’ committee should be formed at an early stage to liaise with the directors, and the managing agent.
What is a Managing Agent?
The directors of a management company will appoint a managing agent to deal with the day to day running of the management company. These agents ensure the smooth running of the complex by providing certain services. The managing agent works on behalf of the management company. People often think that the management agent and the management company are one and the same. However, they are separate entities and have separate functions.