PSRA Licence No 004404

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Landlords

• Donegal Rentals  will visit your property and take photographs for inclusion in our website.

• We will provide a rental valuation and give any general advice on the letting of your property.

• Advise you on legal requirements pertaining to the letting of property in Ireland.

• Market your property through www.donegalrentals.com

• Vet tenants & accompany prospective tenant to view the property.

• Negotiate rent and the lettings terms between landlord and tenant.

Having secured a suitable tenant in agreement with the Landlord Donegal Rentals (DR) will:

• Check tenant references.

• Draw up a Tenancy Agreement ( Lease) for signature by both the Landlord and Tenant.

• Collect a Deposit equivalent of one month rent from the tenant.

• Collect rent payment in advance. Arrange standing order payment for future rent payment.

• Compile an Inventory (if property is being managed)

• Check the tenant into the property. Hand over keys.

• Read the electric/ gas meters and transfer the accounts into the tenant’s name.

• Measure the oil tank level.

• Send monthly statement (rent book) to tenant on receipt of rent (Managed).

• Sent monthly statement to Landlords ( Managed)

• Immediate action as required under the Tenancy Act 2004 will be taken for non payment of rent.

• Carry out periodic inspections of the property throughout the tenancy. If there are any problems, they will be reported to the Landlord.

• DR will handle all tenant enquiries and maintenance requests during the tenancy.

• Approaching the end of a tenancy, seek renewal with the present tenant or set about acquiring new tenants for the property, thereby eliminating void periods.

• At the end of the tenancy Donegal Rentals will arrange the check out of tenants.

• Reconciliation of refundable deposit against any damage to property.

Regulatory

RTB Under the 2004 Tenancy Act, all tenancies must be registered with the Private Rental Tenancy Board(PRTB). The Landlord is responsible for the mandatory payment of €90 to the PRTB for each new tenant. See www RTB.ie

BER

It is a legal requirement to have a BER (Building Energy Rating) Certificate for all properties For Sale or Let.

If requested, DR can arrange for the Building Energy Certificate to be obtained from an SEI approved Consultant.

Smoke Alarm

It is a legal requirement to have a smoke alarm installed in rented property.

Rental properties that do not have mains powered smoke alarms must install a 10 year life smoke alarm.

Fireblanket

It is a legal requirement to provide a Fire Blanket in rented property.

Window Restrictors 

Upstairs windows must be fitted with window restrictors ( safety)

Fire Extinguishers. Fire Extinguishers are not legal requirements. However DR recommend at least one be provided.

Property Taxes & Service Charges:

All Property Taxes & Service charges are the responsibility of the Landlord.

Donegal Rentals cannot take responsibility for payment of these taxes.

Retention Tax:

If a landlord lives abroad (includes Northern Ireland), the Tenant of a non managed tenancy or the Letting Agent of a managed tenancy, is legally obliged by Irish Revenue to withhold and submit to Revenue a 20% Retention Tax.

 

Advice to the Landlord on letting a property

Mortgage

If your property is mortgaged, you should obtain your mortgage holder’s written consent to the letting. They may require additional clauses in the tenancy agreement of which you must inform us.

Subletting

A property cannot be sublet , rooms rented , Air BnB, Bed & Breakfast without the  Landlord’s consent.

Contents and Building Insurance

Landlord should ensure that suitable insurance for both buildings and contents is in place. Failure to inform your insurers of the property being let may invalidate your existing policies.

Do not underinsure . All policies have, in the small print, what is called, the ‘average clause’. What this means is that, if you the landlord are underinsured and something happens, you will not be fully compensated for losses incurred . In effect, if you are deemed to have valued the property at half the true value and, as a result, paid only half the correct premium, then you will be allowed only half of any justifiable claim you make.

Do not overinsure, as the ‘average clause’ does not work in reverse. Your money is wasted.

Insurance may also be available to insure against default of rental payment. A much more important consideration than the value of furniture, is the public liability element included in each policy. This is the landlords only cover if a tenant has an accident such as a fall on a loose tile. We recommend that you arrange for regular outgoings e.g. mortgage, service charges, maintenance contracts etc. to be paid by standing order or direct debit. However, by prior written agreement we may make payment of certain outgoings on your behalf, provided such bills are received in your name at our office, and that sufficient funds are held to your credit in the client account.

Inventory

Donegal Rentals will prepare an inventory  at the start of a tenancy (Managed) . It is most important that an inventory of contents and schedule of condition be prepared, in order to avoid misunderstanding or dispute at the end of a tenancy.

Without such safeguards, it will be impossible for the landlord to prove any loss, damage, or significant deterioration of the property or contents. Photographs will be taken where necessary.

Income tax and PRSI are payable on all rental income

Donegal Rentals will provide monthly accounts for each property with a list of outgoings which will make your tax return simpler to compile. Each year you must prepare an account for each rented property and submit it to the Revenue Commissioners. An accountant will prepare this for you if you wish, but unless you are operating as a limited company you may submit your own figures. Donegal Rentals will be required by Revenue department to deduct tax in the case of overseas landlords.

Tax officials are very helpful to callers and will go out of their way to advise you if you ring them with a query.

Expenditure allowable against tax

• Utilities (gas, electricity) and service charges

• Refurbishment relief as explained above

• Special tax relief, e.g. Section 23 which allows a tax write-off for the capital cost of the property

• Mortgage interest

• Mortgage insurance

• Buildings and contents insurance

• Service charges

• Repairs and maintenance

• Management or rent collection expenses

• Capital expenditure qualifies for a tax write-off over eight years. This applies to furniture, appliances, bathroom fittings etc.

We are not tax accountants and the above allowance should be confirmed with your accountant.

Income tax

When the landlord is resident in Ireland, it is entirely his/her responsibility to inform the Inland Revenue of rental income received, and to pay any tax due. However, where the landlord is resident outside Ireland during a tenancy, Donegal Rentals is required to collect income tax ( Retention Tax) from rent on behalf of Revenue.

Retention Tax

If the Landord is managing the tenancy, the tenant is legally responsible for deducting the Retention Tax and forwarding it to Revenue.

Preparing your property for rent

A good relationship with tenants is the key to a smooth-running tenancy. As a Property Management Company the relationship part is our job, but it is important that the tenants should feel comfortable and welcome in their temporary home, as well as, receiving value for their money. This is the landlords job. Our policy of offering a service of quality and care therefore extends to our tenant applicants too, and we are pleased to recommend properties to rent which conform to certain minimum standards. Quality properties attract quality tenants and ensure a steady stream of rental income for the landlord.

General condition

Electrical, gas, plumbing, waste, central heating and hot water systems and fittings must be safe, sound and in good working order. Regular maintenance is essential and helps avoid costly repairs. Repairs are at the landlord’s expense unless misuse by the tenant can be established.

Appliances

Appliances such as washing machine, fridge freezer, cooker, dishwasher etc. should be in good and usable condition. Repairs and maintenance are at the landlord’s expense unless misuse can be established.

Smoke alarms

Fire Alarms with a 10 year life battery are now mandatory.

Chip Pans Open chip pans are a fire hazard and should not be provided.

Painting

Interior decorations should be in good condition, and ideally of a plain, light and neutral nature to suit most tastes. We recommend that a spare tin of paint is kept on premises for minor touch ups, if necessary.

Furnishings/Fixtures and Fittings

• Banish all thoughts of equipping your property with a mixture of mismatched second hand equipment.

• If letting furnished, provide a good standard of all furniture/fittings/ fixtures.

• Soft furnishings should be of darker/patterned / durable material.

• Curtains should be of reasonable quality to ensure privacy and blackout of light.

• All beds should be covered by a mattress protector. The mattress must be good quality to ensure comfortable nights sleep.

• Property should be kitted out in a stylish, functional and comfortable manner. Sentimental items or those of a personal nature i.e. photos, should be removed.

• If letting unfurnished, Donegal Rentals recommends that the property contains carpets/flooring, curtains, cooker or oven / hob/ fridge/freezer and washing machine/dryer.

All personal items should be removed from the property, especially those of real or sentimental value. Some items may be boxed, sealed and stored in the loft at the owner’s risk. All cupboards and shelf space should be left clear and clean for the tenant’s own use

Gardens & surrounds of Property

Donegal Rentals require that the garden be neat, tidy and rubbish-free, with grass neatly cut.

Tenants are required to maintain the gardens to a reasonable standard, provided they are left the necessary tools such as mower garden clipper spades etc. However, tenants may not maintain your garden, so if you value your garden, or if it is particularly large, Donegal Rentals recommend regular maintenance visits by our gardener.

Cleaning of the Property

At the commencement of a tenancy the property must be in a thoroughly clean condition, preferably cleaned to a professional clean standard. At the end of each tenancy it is the tenant’s responsibility to leave the property in similar condition. Where they fail to do so, Donegal Rentals will arrange cleaning at the departing tenant expense and the cost will be deducted from the deposit.

Tenant Information

Photocopies of original operating manuals are made available for the tenant for all appliances in the property. For example washing machine, cooker & tumble dryer.

Keys

At least four sets of keys should be provided. Two for the tenant and one to be retained by Agent & one for Landlord.

Smoking

Rented property should have a No Smoking policy. Donegal Rentals disallows smoking in property .

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