Are you thinking of letting your house in Rathgar or Rathmines? Or do you have multiple rental properties all over Dublin and have no time to manage them? Why not work with letting agents?
The process involved in renting out a property is not as straightforward as most people think. It is a complicated and time-consuming endeavour. This is why working with property letting agents in Dublin is a smart choice whether you are a new landlord or a seasoned owner of rental homes. It is a decision that will help you save time and ensure the success of your business.
3 Reasons Why You Need Property Letting Agents in Dublin
Earn a Good Profit
Many landlords end up in the red or earning just a little out of their rental home business because they failed to set the right price. This is exactly one of the scenarios you avoid when you hire a professional.
Letting agents are capable of coming up with an accurate rental valuation. They know how to analyse letting trends in your area. Moreover, they have access to useful information like letting time scales and agreed valuation.
Simply put, these professionals are able to determine the best rental price for your property using correct and complete data. With their help, you don’t have to worry about losing money. Instead, you can look forward to having substantial earnings from this venture of yours.
The letting industry in Dublin is continuously and rapidly changing. There are always new rules and requirements that landlords need to adhere to.
It can be very taxing to keep up with what is acceptable and what is not, especially when things are changing by the minute because of the pandemic. But you need to be aware of the laws and requirements to stay compliant. This is something you don’t have to worry about if you are working with property letting agents.
These professionals know the laws and requirements by heart. They also keep abreast with what’s happening in the industry, taking note of the changes and making the necessary adjustments immediately.
By enlisting the service of a letting agent, you can ensure that you are compliant at all times. You also avoid hefty fines and preserve your business reputation.
Find High-Quality Tenants Fast
Getting tenants is easy, especially if your house is in one of the sought-after locations in Dublin. But running a successful rental home is not just about filling the vacancies fast. It is also about ensuring that you are letting your house to high-quality tenants.
What are the qualities of good tenants? For one, they have the capacity to pay rent and can do so on time. They abide by the terms of the contract and care for the property.
You can vet prospective tenants yourself but be forewarned that this is not an easy task. Without the skills, experience and tools, you can easily fall prey to unscrupulous tenants – the kind who do not pay rent or keep your property orderly.
So, it is best to let professional agents do this task. Trusted rental agents employ a meticulous screening process to make sure that their clients get good tenants. Furthermore, they understand how to get the needed information according to GDPR guidelines.
How Much Do Property Letting Agents in Dublin Charge?
Are you now convinced that hiring professionals can be beneficial? If you are, then the next thing you’d want to know is how much will this service cost you.
In Ireland, the agent’s fee is usually a percentage of the rent plus VAT. The percentage varies per letting agent or company, but it can range from 3% to 20% in Dublin.
Various factors affect the price. One of them is the letting service they would be providing you. Will they just help you find new tenants? Or will they also manage the rental property – deal with tenant complaints, arrange repair and maintenance and collect rent?
To give you an idea, MTS Property charge 3% of rental fees (plus VAT) for their letting services which include rental valuation, completing BER requirements, marketing, viewings, vetting of potential tenants and collecting security deposit and rent for the first month.
Now, if you are an overseas landlord or simply have no time to manage your rental property, you may need to get property management services. At MTS Property, they also charge 3% for managing rental properties.
So, identify your needs first to know how much you’d be spending. Also, don’t hesitate to contact agents or companies and ask for a quote, so you’ll have a better idea of the overall cost.
In conclusion, hiring letting agents is all about getting the help you need to navigate the complexities of running a rental property business successfully. It may cost you money but think of it as an expense that offers significant returns.
Have a house you want to rent out? Let our experienced property letting agents in Dublin help you find high-quality tenants fast. Call us today on 014959020 or leave us a message here.