Are you thinking of renting out a second property in South Dublin? Looking at it as an easy way to earn extra money?
Here’s the thing – letting your house or apartment can definitely help you make additional money but only if everything’s done right. This means getting the help of professionals, specifically letting agents for Dublin South homes.
Why You Need to Hire Letting Agents for Dublin South Properties
To maximise profits, you may think of skipping the middleman, the letting agent, and rent out the property on your own. It is perfectly fine to do this as long as you are an experienced landlord who has the time to take on additional tasks.
Contrary to what most people think, letting out properties is not a walk in the park. To ensure the success of this venture, you need in-depth knowledge of Irish laws and regulations on properties for let. This is not just for you to be able to do business but also to safeguard yourself when issues arise.
You also need to have time and be willing to do the legwork. This endeavour entails answering tenant calls during ungodly hours and resolving their concerns immediately. Moreover, it involves other seemingly small but recurring tasks which can take up a significant amount of time.
Simply put, becoming a landlord is like having a full-time job, especially if you are managing several properties. Hence, it is impossible to successfully do it if you have other ventures that require your time and attention.
It can also be challenging to turn this into a profitable endeavour if you are a newcomer in this business. Without the necessary know-how and network, you might fail to fill the vacancy or end up with bad tenants. Worst, you might find yourself embroiled in legal issues because you aren’t well-versed with the rental laws yet.
Working with letting agents helps you avoid these problems. More importantly, it lets you ensure the success of the venture as professional letting agents are at the helm. With their expertise, you can expect your property to bring in money without causing you any hassle.
Tips on Working with Letting Agents for South Dublin Properties
It should be noted though that hiring professionals does not automatically result in a profitable rental business. Apart from hiring the best in the industry, you also have to work well with your chosen letting agents.
How do you do this? Read our tips on how you can ensure that you and your agent work towards ensuring the success of your rental home.
Choose Your Letting Agent Wisely
It starts with picking the right agent. On top of being reputable and having extensive experience, she should be someone you can build rapport with.
You need to be comfortable working with her. Furthermore, you have to be able to trust her. Without these things, collaborating with your agent won’t be possible, and this can be detrimental to the success of your rental business.
Set Clear Expectations at the Onset
Issues or misunderstandings between property owners and letting agents are usually due to unclear expectations. These can easily be avoided by letting the agent know what you need and what you expect from her.
But don’t just stop at informing her about your expectations. Find out what they expect from you as well as what exactly they’ll do for you.
The services offered may vary from one letting agent to another. Some help their clients with the prep work like scheduling inspections and securing the necessary documents. Others simply focus on managing the rental property or tenancy.
Knowing your agent’s scope of work minimises the chances of confusion later on. So, make sure you ask about it at the start, preferably before you formalise the partnership.
Meet with Your Agent at Least Twice a Year
You can expect an experienced letting agent to diligently update you about your property, tenants and other related stuff. Nowadays, this is usually done through calls, instant messages or emails.
But even if your agent regularly updates you, it is still highly recommended to meet with her at least twice a year. The meeting can be a venue not just to talk about updates but also to make plans for your business. It is also an opportunity to foster a stronger relationship with your agent.
It doesn’t have to be a face-to-face meeting. In fact, you can opt to do a video call or conference. What matters is that you get the opportunity to discuss important issues, communicate any changes in plans or expectations and/or adjust strategies.
In conclusion, the success of your rental property does not just hinge on the kind of letting agents you hired. How well you work with them has a tremendous impact on the profitability of the business.
Are you looking for letting agents for South Dublin properties? We’ve got professional and experienced agents who can make owning a rental home easier and more fruitful for you. Call us today on 01 495 9020 to learn more about our services!