How to Start Renting Out Your House in Dublin

Do you have a house in Dublin that you want to rent out? Owning a rental property can be a great way to make some money, especially if you live in an area where there are lots of people that want to vacation or move to.

But the process of renting out a house in Dublin can be intimidating if you’ve never done it before. There’s a lot to know—from marketing and finding tenants to maintaining your property and dealing with tenant issues.

So, let’s examine what it takes to rent out your house and see if this might be a good investment option for you.

Is Renting Out Your House in Dublin a Good Decision?

Yes, it is wise to lease your house now since there is a high demand for rental properties in the capital.

Reports show that rental demand in Dublin went up by 13% in 2021. An increase was noted in 16 out of the 22 postal districts in the capital. In some of these areas, the demand even exceeded 50%.

To add, there is a significant decline in the number of houses available to rent in Dublin. This means that demand is high, but supply is low. Hence, this is the perfect time to rent out your house!

Renting Out Your House in Dublin: 3 Things You Need to Do

How do you start renting out your house in Dublin? Read on to find out the three important things you need to do:

Be Informed

Owning rental properties has its challenges. As a new landlord, you should know exactly what to do and expect before starting this new business venture.

Go online or talk to an expert to learn about the requirements you need to comply with. Find out what your obligations are as a landlord and what you should expect from your tenants.

Hire a Letting Agent

Determine if you have the time and energy to manage the property. If you do not, consider hiring a letting agent or property management company.

Working with letting agents in Dublin is an excellent choice for new landlords like you. These agents can do all the heavy lifting. They will take care of everything: preparing the property, completing the documents, finding renters, collecting rent and even resolving tenant issues.

Letting agents are experts at making sure your house is rented out without any hassle on your end. Just tell them what needs to be done, and they will handle it all while keeping everything running smoothly so that everyone involved stays happy throughout the process!

Figure Out How Much Rent You Want

You should charge enough that it’s worth your time and effort (so don’t just go with “the lowest amount possible!”), but not so much that people won’t be able to afford it.

Determining the right rental price is not about choosing an amount you want. There is a process you should follow to ensure that you profit from this venture. Don’t be like some landlords who set a price without considering related expenses like taxes and maintenance fees. So, they end up losing money.

Check online for comparable properties in your area and use those as a comparison point for determining how much to charge. Alternatively, you can consult a letting agent to ensure that you set the right rental fee at the onset.

While the prospect of renting out your house or apartment can be exciting, it is also a lot to take on for a new landlord. It’s understandable if you want to take some time to consider the process before you take action. Still, it’s never too early to start exploring options and getting familiar with what you need to do.

Are you thinking of renting out your house in Dublin? Don’t know where to start? Get advice from our experienced letting agents. Call us today on 014959020 or send us a message here.

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