As a landlord, it is important to carefully consider your insurance needs and to ensure that you have adequate protection in place, both to protect against possible financial loss and strain and to protect your assets and long-term rental investment. Property insurance for landlords in Ireland is generally referred to as ‘Landlord Insurance’.

What is Landlord Insurance

Landlord insurance is a specific type of insurance cover designed for rental properties and landlords. While various policies in the market will differ, many policies will offer certain protection for landlord-specific risks such as loss of rental income (due to an insured event such as fire ) and liability insurance, in addition to protection cover for the property/building itself.

Is Landlord Insurance compulsory in Ireland?

Whilst landlord insurance is not compulsory as of yet in Ireland, certain mortgage providers may require you to have certain cover, such as Buildings Insurance in place, so you should consult your lending institution for specific requirements as a landlord.

What factors should I consider?

It is always wise to consult an insurance or industry professional on your specific insurance requirements, but in general, many landlord insurance policies will entail:

Buildings Cover – protects the structure of your rental property from partial damage or total loss and generally includes fixtures such as kitchen units and bathroom units.

• Before taking out cover, you’ll need to know the rebuild cost of your investment property. Online tools such as the House Rebuild Calculator provided by the Society of Chartered Surveyors Ireland (SCSI) can help you estimate the rebuild cost.

Remember that if you already have home insurance in place on your home but have recently decided to rent out your home or property since your last renewal– don’t forget to notify your insurance provider that you are now renting out the property. 

Underinsurance of Residential Properties in Ireland

A key issue for landlords to be aware of when insuring their letting property is the risk of underinsurance. Underinsurance occurs when the sum insured on your insurance policy is less than the rebuild cost of your property. In the event of a claim, having your property uninsured can potentially leave you exposed and liable for a portion of the rebuild or repair costs yourself, from your own funds (depending on the terms and conditions of your policy).

This is because many insurance policies will be subject to what is known as “the average clause,” which allows insurers to reduce the claims amount in proportion to the amount of underinsurance.  For a more detailed overview and examples of underinsurance and tips for avoiding, visit our recent blog on The Silent Risk of Underinsurance.

Public Liability Insurance

Many landlords will ensure that they have public liability cover in place to provide protection in the event of a claim from a tenant or member of the public arising in relation to their rental property; and it is important to discuss this aspect of your insurance cover with your provider to make you are satisfied with your level of cover in this regard. Public liability insurance can provide potential cover when accidents occur on your property either to tenants or members of the public.

Apartment Owners & Public Liability Insurance

If you own an apartment property in Ireland, it is important not to assume that public liability cover is included with the Block Policy of the apartment building, as this is often not the case. As mentioned above, you should always query the level of cover in place with your insurance provided (or management company) and satisfy yourself you have adequate cover in place to protect against unforeseen events.

Loss of Rental Income

Certain policies will offer financial protection against loss of rental income if the letting property becomes uninhabitable due to an insured event (e.g. fire), but is often subject to certain policy limits – again it is prudent to discuss these aspects in detail with your provider so that you fully understand the level of cover you have.

Contents Cover

If your rental property is let to the market fully or partially furnished, you may wish to add contents cover to your policy (which is often not included in your policy as standard and is often an optional extra).

• After purchasing new items such as dining toom furniture or sofas, you may need to re-evaluate the level of cover needed from time to time.
• Again, if you own an apartment rental property, Contents Cover will generally be something you need to provide for as a landlord, separate to the block insurance policy already in place for the building.

Benefits of Loss Assessor

In the event that your property suffers damage or total loss, you will have the option to hire a loss assessor to act on your behalf, who will conduct an investigation of the damage and prepare the insurance claim on behalf of you, the policyholder.

• A professional loss assessor is specially trained in this area and can ensure that all aspects of the claim are fully assessed and taken into account, protecting your interests.
• The loss assessor will conduct the negotiations on your behalf directly with the insurance company and act as your representative throughout the claims process.

Being a Landlord can be a rewarding venture, but also entails many legal, compliance and financial considerations, which can feel overwhelming at times. The specialist Property Lettings & Management Team at Herbert and Lansdowne are here to guide and advise you through the process, helping you to protect and maximise value from your investment assets and property portfolio.

Herbert & Lansdowne works extensively with Landlords & investors across the Dublin and Irish property markets and also has deep experience and expertise working with overseas landlords.

This article is for general information purposes only and does not constitute legal, tax, or investment advice.

Choosing an estate agent is one of the most important decisions you’ll make when selling your property. In a competitive Dublin market, where demand and sales prices can vary substantially between neighbourhoods, the right estate agent can help you to achieve the best sales price for your property and can help to reduce unnecessary stress from the sales journey.

A typical house sale in Ireland can take between three to six months and even longer at times, so partnering with the right estate agent can make all of the difference.

Although fees are understandably often top of mind for many sellers, there are a number of other factors you should consider when researching prospective estate agents to handle the sale of your home or investment property.

First Things First – Look for a Licensed Agent

Before engaging any property professional, you can first verify that they are licenced to operate in Ireland by checking the official PSRA (Property Services Regulatory Authority) register at https://www.psr.ie/psra-registers/register-of-licensed-property-services-providers/

All Property Services Providers (PSPs), which includes Estate Agents and Auctioneers, operating in the Republic of Ireland must hold a PSRA licence. 

Local Knowledge Matters!

Partnering with an agent that has a strong knowledge of your particular area is crucial. It can mean not only a more accurate house valuation at the outset, but also a better understanding of how to effectively market your property throughout the sales process.

It can also potentially mean that you can hit the ground running as your agent may also have a list of potential buyers or a buyer database for your area already on file.

An estate agent with good local knowledge will be well versed on:

• Recent sales and average sales prices for the area – leading to a more accurate valuation for your home or investment property. The initial valuation is an extremely important element, as a valuation that is too high or too low can discourage prospective and otherwise interested buyers.
• Planned retail or transport developments that may enhance an area’s appeal and attractiveness to potential buyers.
• Local amenities such as sports clubs and transport connections that would be of interest to potential buyers.

Don’t be afraid to ask your agent for examples of:

1. Previous or recent properties sold by them in your area.
2. Examples of past sales which involved properties that are similar to yours – e.g. detached homes, apartments etc.
3. Details of specific experience of the Dublin property market.

Look for a Good Rapport and Trust

Given the central role that an estate agent will play in the sale of your property, it’s essential to choose someone you genuinely trust and feel comfortable working with. A good agent will take the time to understand your priorities and goals and demonstrate excellent communication skills from your very first meeting.

Discuss the Marketing Strategy for Your Property

The best agents know that marketing is not just about uploading a listing; it’s about positioning your property effectively in the market and attracting the right buyers for your property. It’s worth having an open conversation with your prospective estate agent before you commit and ask questions such as:

Where exactly will my property be advertised?

Understand the online property portals and social media outlets where your property will be showcased.

How will my property be presented?

Ideally your marketing will include professional photography, floorplans, and well-written descriptions highlighting key selling points for prospective buyers.

Who will conduct negotiations on my behalf throughout the process?

It is important at the outset to be clear on who will conduct sales negotiations on the sale of your home once offers are made by prospective buyers; and if they are a senior negotiator with relevant experience to date. You should satisfy yourself that they have the relevant market experience and skills to effectively negotiate the best sale price on your behalf.

What tips would you suggest for getting my house ready for sale?

There are a number of low-cost, high-impact steps you can take to ensure your home or investment property is presented to the market in its best possible condition an many estate agents will be able to advise you in this area. For more tips on preparing your property for sale, see our recent blog ‘So You Have Decided to Sell’.

Remember that it is your estate agents marketing strategy that will help your property to stand out from similar properties!

Fees

It’s important to fully understand the fees and terms of the agreement with your estate agent and to ask questions about anything of which you are unsure. Compare fees with other providers and ensure you are satisfied that the fees are fair and reasonable.

Remember that an estate agent with the right expertise, skillset and contacts for selling your home may not always be the cheapest provider!

A well-chosen agent will not only secure a better financial result, but also protect your time, peace of mind, and compliance obligations.

How Herbert & Lansdowne can Help

Herbert & Lansdowne are experts in the Dublin property market and have over 20 years’ of experience across a full range of residential and commercial properties and go above and beyond to achieve the best results possible for their clients.

If you would like to get in touch, simply fill out the form on our contact page, give us a call or pop into our city-centre location and one of our experts would be delighted to speak with you about your property.

This article is for general information purposes only and does not constitute legal, tax, or investment advice.

Growing inflation in recent years, particularly within the construction sector, has further contributed to a growing trend of under-insurance within the Irish property sector, and one that has been present for a number of years. A 2022 survey by the Central Bank of Ireland found that under-insurance across the home insurance market in Ireland had grown steadily in the 5-year period evaluated, from 6.5% in 2017 up to 16.5% in 2021.

For homeowners and landlords, under-insurance creates a potential risk of financial loss and financial stress due to potential reduced claim payments, in the event of an insurance claim, following partial or total loss to the property. It can also lead to longer settlement times due to longer negotiations, due to the shortfall in funds required to repair a property.

What is Under-Insurance?

Under-insurance occurs when the sum insured on your insurance policy is less than the rebuild cost of your property.    

What is the Impact of Under-Insurance for Irish property owners?

Many insurance policies will be subject to what is known as “the average clause,” which allows insurers to reduce the claims amount in proportion to the amount of under-insurance. 

This means that if your property is insured for less than its full reinstatement value, you may be liable for a portion of the rebuild, repair or replacement costs yourself, from your own funds (depending on the terms and conditions of your policy).

Real-Life Example:

A home has a rebuild cost of €400,00 but the insured amount is €300,000 – this means that you are only 75% insured and 25% under-insured.

• In the event of partial damage to the property of €60,000 and subsequent claim to your insurance company, only €45,000 will be paid out.
• In the event of total loss to your property, the maximum that would be paid out to you in the event of a claim would be €300,000 (as this is the amount the property has been insured for).

Causes of Under-Insurance

Underinsurance can be caused by a number of reasons:

• Miscalculation of the rebuild or replacement cost.
• No cover adjustment following property upgrades.
• External factors such as rising material and construction labour costs.

Tips for Avoiding Under-Insurance for Property Owners

Calculate the Full Rebuild Costs of your Property

• To ensure adequate insurance coverage for your home or rental property, it is vital to conduct a comprehensive evaluation of the full rebuild cost of your property (as distinct from the market value of your property).
• Online tools such as the House Rebuild Calculator provided by the Society of Chartered Surveyors Ireland (SCSI) can help you estimate the rebuild cost.
• The rebuild cost should ideally include all relevant costs associated with the rebuild journey of your property, including architect’s fees and other professional fees, demolition fees etc., in addition to the actual construction and material costs of the rebuild itself.
• If you have built-in kitchen units or wardrobes or fittings that are higher than ‘average-spec’, you must factor this into your rebuild cost estimate also.

Consider Obtaining a Professional Valuation

It is often prudent to obtain a professional valuation by a qualified chartered surveyor (RCA), especially for more bespoke or unique builds.

Review your Cover after any Changes or Upgrades to the Property

• If you carry out upgrades to your property such as new rooms or an extension, it is important to review your level of cover at this point to avoid under-insurance.
• Review rebuild costs through the calculator before each insurance policy renewal.

Don’t Neglect your Contents Cover

• You should also review your level of contents cover on a regular basis and ensure you have sufficient cover for items to be replaced as new.
• After purchasing new items such as laptops or home office equipment, you may need to reevaluate the level of cover needed.

Review your Policy Regularly

• Finally, it is always wise to review your level of insurance cover (both buildings and contents) on a regular basis, ideally on an annual basis, particularly during inflationary periods when rebuild costs are rising.
• Discuss inflation protection options such as policy index-linking with your insurance provider to ensure you have adequate built-in protections against inflation where possible.

For more information or to discuss your specific requirements, please reach out to the Herbert & Lansdowne team directly, who would be happy to assist.

This article is for general information purposes only and does not constitute legal, tax, or investment advice.

According to the latest published Daft.ie House Price Report, the average asking price for a home rose by 5.9% between July and September this year, when compared to the same period last year. This means that the national average listed sale price of a three-bed semi-detached property in Q3 was €421,261 (daft.ie).

However, it is also clear from the report that house price inflation is showing signs of easing, with the report noting that Q3 list price inflation represents a slight moderation on the rate of inflation seen earlier this year on asking prices – of 7.5%.

This indicates that while house prices in Ireland are still increasing, the rate of growth is beginning to ease slightly.

Dublin Residential Property Market

• In Dublin, list prices rose by 4.5% year-on-year during Q3. The average list price for a three-bed semi-detached home in the capital now stands at €612,824, compared to the national average of €421,261, according to the Daft.ie Q3 House Price Report.
• Listed sale prices in Dublin are now 27% above their pre-covid levels and 8% below their Celtic Tiger peak (Daft.ie).

Housing Supply – Dublin

• On 1^st September, there were close to 3,400 second-hand homes actively for sale in Dublin, up 8% on the same date a year previously – however, availability is still 15% below the 2015 – 2019 average (Daft.ie).

Gap Between List Price and Sale Price

A notable continuing trend in the market, highlighted by the Daft.ie report, is the gap between initial property list prices and transaction prices.

• Nationally, the typical property sold in Q3 went for 7% more than its initial listed price.
• However, the gap in Q3 was most notable in Dublin, with an 8.5% gap between initial listed price and ultimate transaction price during the period (Daft.ie).

Herbert & Lansdowne believe the report highlights a housing market still characterised by strong demand and supply constraints — both in Dublin and across the rest of the country.

If you’re considering selling or letting your property, Herbert & Lansdowne can provide tailored advice grounded in years of local expertise of the Dublin property market. Their team combines in-depth market knowledge with strategic insight to help clients achieve the best possible outcomes — whether preparing a home for sale, letting a property, or planning your next move.

This article is for general information purposes only and does not constitute legal, tax, or investment advice.

Herbert Lansdowne is a leading provider of professional property services in Ireland. With over 20 years of experience, we are dedicated to helping our clients navigate the complex and ever-changing landscape of the property market. Whether you are looking to buy, sell, or rent, our team of experts is here to guide you every step of the way.

So, you’ve decided to sell your property? Congratulations! This is an exciting time, but it can also be a little overwhelming. There are many things to consider, from valuing your property to finding a good solicitor, preparing your property for sale, and even making sure that your land registry maps are up-to-date.

To help you get started, we’ve put together a guide to some of the most important things you need to know before you put your property on the market.

First and foremost, it is important to have a good understanding of the value of your property. You can do this by getting a professional valuation or by using the property price register which is an incredibly useful resource and will give you a sense of at what level you can expect to sell your property at.  

Next, you’ll need to find a solicitor to help you navigate the legal aspects of selling your property. This person will be able to advise you on all the necessary documentation, including contracts and transfer of ownership. It is possible that you may encounter unforeseen issues at this point, in some instances with title deeds or depending on the age of the property some more complex challenges around boundary walls etc. All of this can be resolved with the help of a strong solicitor and advice from an established estate agent. 

Once you’ve taken care of the legalities, it’s time to focus on preparing your property for sale. This includes cleaning and decluttering your space, making any necessary repairs, and making sure that your home is presented in the best possible light. Buyers are becoming more sophisticated and will be more stringent in assessing your home than was the case years ago, its important to ensure you have dotted all the I’s and crossed all the t’s. Don’t overlook the basics like a fully functioning boiler or immersion, these are the first port of call for most surveyors.  Here is a link to the Society of Chartered Surveyors Ireland, they have some other hints and tips to ensure your home is best set up for an potential survey. 

Finally, it’s important to check that your land registry maps are up-to-date. This will ensure that there are no issues when it comes to transferring ownership of your property.
In conclusion, selling your property can be a complex process, but with the right preparation and support, it can also be a smooth and enjoyable experience. At Herbert Lansdowne, we are here to help you every step of the way. If you’re ready to get started, simply fill out the form on our website here or give us a call, and one of our experts will be in touch to guide you through the process.

When you become a landlord in Ireland there is a list of minimum standards for residential rented accommodation, set out by the Residential Tenancies Board (RTB), that you must comply with.

As a landlord, you have a responsibility for meeting these minimum standards, and keeping up to date with the ever-changing minimum standards and legislation.

Property Condition and Facilities to Include

Before moving any tenant into your property, you must ensure your property meets the minimum standards required and is adequately equipped to ensure safety, comfort, and compliance.

• Your property must be free from damp and in good structural repair.
• You must have hot and cold running water available.
• Adequate ventilation and heating which the tenant can control.
• Where the heating is provided by the landlord, you must also provide a wall mounted heater in each room, that can be controlled by the tenant.
• All appliances should be in good and safe working order.
• A microwave, 4 ring hob and adequate fridge/ freezer (Ice box is not sufficient) must be provided.
• Adequate storage presses for food and cleaning materials.
• All electrical wiring, gas and water pipes should be in a good condition.
• Sufficient 10-year battery smoke alarms should be provided.
• A 10-year battery C02 alarm should be installed in any room with a gas appliance or boiler.
• All properties must have a fire blanket.
• If your property is in a multi-unit building, then you must include a fire detection device, alarm system, an emergency evacuation plan, a fire safety plan and emergency lighting in common areas.
• Front and rear doors should be fitted with a thumb turn locks to prevent being trapped inside in the event of a fire.
• You must provide access to washing and drying facilities, weather self-contained or communal.
• If your property has no outdoor space to dry clothes, you must provide a dryer.
• All habitable rooms should have natural light or adequate artificial light where it is not possible to supply natural light.
• Window restrictors must be applied to all windows that are located above 1400mm from ground level in order to prevent falls.
• All bathrooms should be provided with a working heater and adequate ventilation.
• Tenants should be given access to information on the property, building services, appliances and their maintenance requirements.
• Prevention against the infestation of vermin and pests should be undertaken and maintained.
• There should be adequate access to refuse storage facilities.

Repairs and Inspection

It is recommended by the RTB that landlords or their property manager carry out regular inspections throughout the tenancy. This is important to ensure any unreported maintenance is brought to light, tenants are fulfilling their obligations and to ensure the property is in a good and safe state of repair.

Reasonable notice should be given to all tenants before a landlord enters a property. A mutually agreeable time should be agreed in advance.

Breach of Minimum Standards for Rented Residential Accommodation

When a tenant believes that the property they are renting does not comply with the minimum standards listed above, they should first notify their landlord in writing. A reasonable time period must be given to the landlord to rectify the issue and reasonable access to the property should be allowed to make any repairs, changes or replacements.

If the issue is not resolved, tenants can then contact their local authority who are responsible for enforcing such standards in residential properties. If required, the local authority will then carry out an inspection of the property.

To avoid such issues occurring, it is a good idea to keep-up to date with any changes to the minimum standards through your estate agent or our own research.

How can a Property Management Company help?

The list of minimum standards is long and can often leave landlords doubting their efforts and wondering if they have met all the requirements adequately. Some stipulations can leave the landlord guessing whether they have fitted particular safety devices correctly and if they have supplied the tenant with the best standard of safety equipment possible. It is easy to unknowingly become non compliant, serve an invalid notice or rent increase to a tenant.

A good way to alleviate any worries is to work with a property management company who can take responsibility for all of the above and much more.

At Herbert and Lansdowne, we work with landlords every day and use our wealth of experience to free up your time and take the pressure off by ensuring all minimum standard requirements are met, mid tenancy inspections are complete, repairs are complete in a timely manner, and we even have a 24-hour emergency maintenance team to deal with any leaks, fires, break ins and emergencies outside of normal hours.  

3 Month Free Property Management Trial

We are offering a 3-month free trial to all landlords that would like to test drive the management service. Along with the above, there are a lot of additional aspects to the service – point of contact for tenants, arranging maintenance, key holding service, photographic inspection reports, and rent collection service to mention but a few.

Property Management Fees are Tax Deductible

The cost of our management service is 6% of the monthly rent plus VAT at 23%. Based on a rent of €1500 plus vat, this would work out at €90 plus vat per month. This is a fully tax-deductible expense and one of the best investments you can make in your rental property. We will ensure that maintenance is complete at competitive rates, rent increases are complete where possible and any tenant issues are dealt with as efficiently and effectively as possible, ensuring your asset is performing to the best of its ability.

Having your property professionally managed will ensure that you and your property are meeting all the requirements, your asset is performing to the highest level and most importantly that you do not have the stress or worry wondering if you have done everything required of you.

Call Alan McMurray today on (01) 5329000 or email alan@herbertlansdowne.ie to discuss our property management service. Bespoke management packages can be arranged to suit your needs.

Fire and Safety

It is extremely important to ensure that your property is adequately equipped for a potential fire and to fit the property with the necessary equipment to deal with a fire should one arise.

Landlords must comply with the Fire Service Acts (1981-2003) and safety requirements from the Housing Regulations 2019.

The fire safety requirements are as follows;

• A self-contained unit should have a fire detection device and an alarm system should be fitted in the property.
• Common areas of a multi-unit property, such as a stairway or hallway, should also be fitted with fire detection devices, alarms systems, an evacuation plan and emergency lighting.
• A suitably located fire blanket should be available in the property.
• Fire alarms should be either mains-wired with a battery back-up or be 10-year self-contained battery operated.
• Smoke alarms should be placed in suitable locations throughout the property.
• Rooms should allow for the safe removal of fumes and other products of combustion to the external air.
• Each room should have adequate ventilation.
• Gas, oil, electricity and electrical distribution boxes should be in good repair and maintained in safe working order.
• All fire equipment should be maintained and checked regularly.

A more detailed description of all of the above and how to fit each component correctly can be found on the Dublin City Council website.

Breach of Minimum Standards

When a tenant believes that the property they are renting does not comply with the fire safety requirements listed above, they should first notify their landlord in writing.

A reasonable time period must be given to the landlord to rectify the issue and access to the property should be allowed to make any repairs, changes or replacements.

If the issue is not resolved, tenants can then contact their local authority who are responsible for enforcing such standards in residential properties. If required, the local authority will then carry out an inspection of the property.

To avoid such issues occurring, it is a good idea for landlords to keep up to date with any changes to fire safety requirements by creating an account with the Residential Tenancies Board.

How can a Property Management Company help?

Fire safety is something a landlord should take very seriously and so it should be carried out to the letter to ensure that you are providing your tenants with a safe and adequately equipped home.

A fire safety check should be done during all inspections of the property and tenants should be reminded about their responsibilities around the use of candles, cigarettes, frying pans and the use of faulty electrical equipment.

However, as a landlord, choosing the best equipment and knowing how and where to fit them can be confusing and can leave you doubting the quality of your efforts.

A good way to alleviate any worries is to work with a property management company who can take responsibility for all of the above and much more.

At Herbert and Lansdowne, we work with landlords every day and can use our wealth of experience to take the pressure off by taking charge of the fire safety requirements in your property and ensuring that they are maintained and updated when needed.

Having your property professionally managed will ensure that you and your property are meeting all the requirements and providing your tenant with a safe and comfortable home.

We are offering a 3-month free trial to all landlords that would like to test drive the management service. Along with the above, there are a lot of additional aspects to the service – point of contact for tenants, arranging maintenance, meeting minimum standard requirements, key holding service and rent collection service to mention but a few.

The cost of our management service is 6% of the monthly rent plus VAT at 23%. Based on a rent of €1500 plus vat, this would work out at €90 plus vat per month. This is a fully tax-deductible expense and one of the best investments you can make into your rental property. We will ensure that maintenance is complete at competitive rates and rent increases are complete where possible, ensuring your asset is performing to the best of its ability.

1.  Lease termination & Notice Periods

Gathering contact information from your tenants, such as email and phone number, should be done at the beginning of a tenancy. This will allow for ease of communication between you both should
issues arise or any maintenance needs to be carried out. Likewise, your tenants should be able to contact you should they need to.

When it comes to the time for lease renewal of your property it is in your best interest to communicate this with your tenant well in advance of the date.

If a tenant wishes to stay beyond their lease renewal, they should notify their landlord in advance in writing within the correct time period depending on the length of their tenancy.

Notice periods to end a tenancy agreement for tenants and landlords are as follows:

Length of Tenancy	Notice Period Required
Less than 6 months	90 days
Not less than 6 months but less than 1 year	152 days
Not less than 1 year but less than 7 years	180 days
Not less than 7 years but less than 8 years	196 days
Not less than 8 years	224 days

If a landlord wishes to end a tenancy, they can serve their tenants with a “Notice of Termination” by giving a 28-day notice period in writing. This can be done without giving a reason within the first 6 months of the tenancy.

After 6 months, tenants are protected by “Security of Tenure Rights” and landlords can only terminate a tenancy if the tenant has breached their obligations such as refusing to pay the rent or if both the landlord and tenant have agreed to end it.

Exceptions to security or Tenure rights apply in cases such as student accommodation, transitional housing or when the place of dwelling is within or attached to the landlord’s home.

Similarly, a tenant cannot end a tenancy without notice before the renewal date unless the landlord has breached their obligations or agreed to them doing so.

When a landlord serves or receives a notice for a property, it is beneficial to make the tenants aware of their obligations, how the property should be returned and agree a time and date for key handover. This will reduce any confusion, uncertainty, and potential disputes.

2.  Closure of accounts, inspection and Meter Reading

When a tenant vacates a property, it is their responsibility to pay all outstanding bills for services used during their tenancy. This may include, gas, electricity and waste collection.

On the tenant moving out day, a meter reading should be taken by the landlord or property agency and the results should be communicated to the service provider so that a final bill can be forwarded to the vacating tenant’s new address.

The utilities should be put back in the landlord’s name between tenancies to avoid disconnection and so the exiting tenants receive their final bill.

On the move in day for the next tenant, a new meter reading should again be taken and sent to the service provider along with the new tenant’s contact details so that they can open a new account in their name.

As a landlord you will be charged for the disconnection and the reconnection along with having to arrange a date for reconnection. You will be given a 5 hour slot to wait in the property for the utility company to arrive and reconnect the utilities. This can be frustrating as it costs time, money and can often lead to a delayed move in date for your tenants. 

On the tenant moving out day, a landlord should do an inspection of the property to ensure the tenants have removed their belonging, have not taken your belongings, have left the property clean and free of damage. It is also a good opportunity to identify any improvements that may be required. If damage has been caused during the tenancy, then the cost of repairs will be deducted from the security deposit paid by the tenant at the beginning.

A photographic inventory of items and condition report, which will have been done at the beginning of the tenancy, should be consulted during this inspection to ensure that all items remain in the property and are in good working order.

If it is clear that the property is unclean and will need help from a professional cleaning service to meet the minimum standards for the next tenant, then the cost can be deducted from the security deposit.

3.   Return of keys and Deposits when tenant moving out

Once an inspection has been carried out, a forwarding address for the tenant leaving has been given, everything is believed to be in order and the tenancy agreement has been honoured then a security deposit can be released back to the tenant and all keys, fobs, remotes and permits to the property should be returned to the landlord.

If the landlord is happy that no repairs, replacements or cleaning are needed and all rent has been paid up to date, then they can return the full security deposit to the tenant. This may not happen on the tenant moving out day but should be done promptly not long after that date.

4.   Referrals and References

When a tenant communicates in writing that they do not wish to continue with the tenancy it is a good idea on the landlord’s part to ask them if they are seeking rental accommodation elsewhere. This gives you the opportunity to keep existing tenants should you have further rental properties in other locations or refer them to a friend who may return the favour should you need tenants at another time.

It is also a good idea to ask the vacating tenants if they have anyone they would recommend as new tenants to fill the property.

A tenant may also ask you to provide a reference for their next landlord. If no issues arose during their tenancy and they did not breach their obligations as a tenant, then it is recommended that you provide them with the reference they need.

5.    Getting Ready for New Tenants

Before a new tenant moves in it is a good idea to check if anything needs to be replaced which may have suffered wear and tear during previous tenancies. It is also very important to carry out a fire safety check of the property and ensure that you are still meeting the minimum standards set out by the Residential Tenancies Board.

New tenants should be vetted appropriately. A reference from their previous landlord and current employer should be requested and checked along with a proof of address, photo ID and payslip. You can check on the RTB website whether the proposed new tenant has been part of an RTB hearing in the past. 

A meter reading should be taken on the first day of their tenancy and the photographic inventory of items and condition report should be reviewed.

A list of service providers for heating, gas, oil and waste can be given and the tenants should be reminded to set up accounts to cover costs for each.

 A security deposit should be taken and a new tenancy agreement should be signed by the new tenants. Under recent legislation landlords are only entitled to collect a maximum of 1 month’s rent and 1 month’s deposit.

If there are any additional costs associated with the property, such as maintenance of communal areas or concierge services, then this should be discussed with the tenant before they sign an agreement or pay a deposit.

The deposit should be kept safe and returned to the tenants at the end of the tenancy if they meet all their obligations.

Why it makes sense to use a property management company

There is a lot to take responsibility for when you are renting a property.

All in all, keeping up with payments, maintenance, inspections and the processing of tenancy agreements can become a challenging full-time job.

It makes sense to work with an outsourced property management company who can take charge of the long list of responsibilities and requirements, ensure you are fully protected as a landlord and leave you stress-free with nothing to do but receive your rent.

At Herbert and Lansdowne, we prioritise securing top quality tenants for your property at the highest rent achievable and can ensure that the turn-around between vacating tenants and new tenants is as short as possible.

We handle all aspects of managing a rental property from tenant management, photographic inventory, condition reports and inspections to key holding, maintenance, rent reviews, lease renewals and rent
collection.

Our experience will give you the highest level of security as a landlord through our time and date stamped photographic inventory and condition reports, before and after the tenancy along with our guaranteed mid-tenancy inspections that will catch any unreported maintenance, any excessive wear and tear and any tenants not meeting the obligations of their lease agreement. This will help reduce the risk of receiving your property back in poor condition.

We work with landlords every day and can use our wealth of experience to manage everything to do with your property and ensure it is all handled with the utmost professionalism in a timely and comprehensive manner.

We are offering 3-month free trial to all landlords that would like to test drive the management service. Along with the above, there are a lot of additional aspects to the service – point of contact for tenants, arranging maintenance, meeting minimum standard requirements, key holding service and rent collection service to mention but a few.

The cost of our management service is 6% of the monthly rent plus VAT at 23%. Based on a rent
of €1500 plus vat, this would work out at €90 plus vat per month. This is a fully tax-deductible expense and one of the best investments you can make into your rental property. We will ensure that maintenance is complete at competitive rates and rent increases are complete where possible, ensuring your asset is performing to the best of its ability.