Landlords Archives - Page 7 of 9 - MyHome.ie Advice & Blog

How do I pick the best tenants?

“A vacant property is far better than one with a bad tenant.” Screening tenants is the most important part of managing rental property. While no landlord wants to have vacant property – it is better (and cheaper!) to have an empty property than one with…

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Landlords

How much rent should I charge?

Landlords, Rentals, Renters, Students

The rent you charge obviously depends on the type of property, its condition and its location. Always aim to charge a competitive market rent. Do your research to see what similar properties in the area are achieving in rent. A well-presented property charging a…

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Landlords

What are the options when using a letting agent?

Landlords, Rentals, Renters, Students

There are two main options when using a letting agent: Let Only Service: Some landlords use an estate agent to find and screen tenants and then look after the on-going maintenance and tenant management themselves Full Management Service: Some landlords use an estate agent…

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Landlords

What insurance is required for apartments?

Landlords, Rentals, Renters, Students

In an apartment building, the building insurance should be covered by the annual management fee – check with the management company. It is still advisable to take out a separate policy to cover third party liability, loss of rent and contents cover.

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Landlords

Can I get insurance to cover for loss of rent?

Landlords, Rentals, Renters, Students

Most insurance polices for investment properties now include cover for loss of rent if the property is badly damaged or destroyed and this results in the property being unsuitable for occupation by tenants. As most landlords rely on the rental income to cover their…

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Landlords

Where do I get insurance cover?

Landlords, Rentals

There are now a large range of insurance companies offering buy-to-let insurance. The number has increased in recent years and the market has become more competitive. Choose a broker that has experience of buy-to-let policies, they will know what a landlord’s policy requirements are,…

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Landlords

What expenses cannot be claimed for?

Landlords, Rentals

Pre-letting expenses i.e. expenses incurred prior to the date on which the premises was first let apart from auctioneers letting fees, advertising fees and legal expenses incurred on first lettings. Post letting expenses i.e. expenses incurred after the period of the last letting are not…

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Landlords

What expenses can be claimed for Wear and Tear?

Landlords, Rentals, Renters, Students

If a premises is let for residential purposes and it is furnished, a claim can be made for a wear and tear allowance based on the cost of the furniture and fittings. It is necessary to retain an itemised list of expenditure incurred each…

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Landlords

How are non resident landlords taxed?

Landlords, Rentals

On receipt of the annual tax return, profit from rent (i.e. rent received less allowable expenses) will be assessed. The landlord is entitled to claim relief for expense, which are usually allowed in arriving at the rental profit. The landlord is also entitled to…

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Landlords

What records must be kept for tax purposes?

Landlords, Rentals, Renters, Students

You must keep full and accurate records of your lettings from the start. You need to do this whether you send in a simple summary of your profit/loss, prepare the accounts yourself or have an accountant do it for you. All supporting records such as…

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