Being a Landlord

[Chesney]

does anyone on here have property that they rent out?? any tips or pitfalls to watch out for when doing this?

[Tim]

dont rent it out 2 any one that looks like frosty

[doyle]

Make sure you get references and check them out. I always make sure I let to a professional couple without pets. No dss. Make sure you let on a 12 month contract with a 6 month break clause.
If you got any questions please ask.
Cheers
Doyle.

[Mk2steve]

Hi mate i look after a property portfolio in Belfast were would you like me to start.

[alancdavis]

Use a letting agent,,at least you get your money even if the tennant wont or dont pay

[prs]

does anyone on here have property that they rent out?? any tips or pitfalls to watch out for when doing this?

Hi Jason,
have a couple, can be great if you get a good tenant, get a bad one and they will make your life hell.
If its a property that you have bought purely for a rental investment then use the advise I was given to treat it as a 'business' to make you money. Furnish it cheap and practical and budget for re decoration every few years. Dont think of it as your 'home'.
If its a property you or your family expect to live in again, then vet the tenants personally. I dont use agents. Here in Dublin they are a rip off and will put in any caliber of tenant just to get their commission.
I find a good thing is to write in the contract what maintenance the tenant and you are responsible for and tell them beforehand. otherwise they will not cut grass etc and want you around to change a light bulb. !

I hope the rents are better with you than here. Was getting €1200 for a 1 bed apt 2 years ago now happy to get €840
have fun..
Robert

[Chesney]

basicley its a bungalow that my grandad left to me & my brother when he passed away last year. We have tried to sell but no joy so we have decided to rent it out for a few years. I have used an agent to find me a tennant which they have done, he got the keys today but from here on in i take over full control of the arrangement. My bro lives 40 miles away so its pretty much up to me to sort any problems out. the guy seems ok as already we have a water leak in the conservatory which i went and temporarily sorted tonight before my mate properly deals with it tomorrow. Just wondered what issues you guys came up against and how you deal with them.

[Frosticles]

Give me a ring tomorrow big nose as we rent our other house out.

[RS2000CUSTOM]

CHESNEY

[Frosticles]

CHESNEY

Rigsby's better looking.

[Trickster]

does anyone on here have property that they rent out?? any tips or pitfalls to watch out for when doing this?

I will move people that dont understand "Goodbye" male or female i dont care

[Andyc]

Jase
speak to Taff mate, as hes bee renting out now for years

[enduro]

as said before remember people will not treat it as well as you,always do it all by direct debit,never think they are a good guy and listen to any excuses,and i would deffo see an accountant because after so many years a rented property will become liable for gains tax after a certain amount is deducted ,could be up to 40%,and the tax man always wants his cut.

[hally]

i have one i rent out jason, the best thing we do is pay a agent 8% of the rent! he credit checks police checks etc etc he does 1/4 inspections and best of all garantees me the rent even if they stop paying!!!! when it comes a time you want to sell it be carefull you will have to pay capital gains, the way round it is move into for a minium of 6 months prying to selling it!

[Andyc]

i have one i rent out jason, the best thing we do is pay a agent 8% of the rent! he credit checks police checks etc etc he does 1/4 inspections and best of all garantees me the rent even if they stop paying!!!! when it comes a time you want to sell it be carefull you will have to pay capital gains, the way round it is move into for a minium of 6 months prying to selling it!

Wayne
i paid a agent to do mine and when the girl left the house it was in sh ite state never do it again through agents