Christmas might be around the corner, but there is still time to arrange car hire excess insurance & travel insurance for the New Year holidays

There will be a large number of people hiring cars and taking breaks over the New Year festive season and it is vitally important that after celebrating a great Christmas and heading to the sunshine or ski slopes don’t forget to buy the insurance for the holidays.

Flight cancelled, delayed, baggage stolen, going skiing - these are some of the reasons you need travel insurance. The same importance applies if you are hiring a car, you will normally need to take out additional “excess insurance”. If you buy this from the car hire company research by the independent insurance companies shows that the consumer will pay a lot more for this excess insurance.  

There is a great selection of car hire excess companies advertising on Irishpropertyinsurance.com and a daily policy starts from just €2.33 approx. 

Philip Suter of Irishpropertyinsurance.com said” I personally have always had annual car hire excess policy for my wife and myself since we were to pay a large excess for alleged damage to a car rental in the south of France in October 2000 and these annual policies prove very good value for money. Most providers also have daily policies at very competitive prices”.

He went on to say, “I would not travel without Travel Insurance and the most economical way is to take out an annual policy.”

Many of the car hire excess insurance are also involved with travel insurance products. Examples of these are Worldwide Insure, Questor Insurance Services,and Blue Insurances who market products under the Carhireexcess, Great Cover and Multitrip and more brands. Specialist companies like Staysure offer products for the over 50’s who are part of a growing market of travellers.

The great advantage of buying on line via Irishpropertyinsurance.com is that you make all the arrangements direct with the individual insurance company, pay by card and have everything set up in a matter of seconds. If you take a break at least a couple of times a year, consider annual car hire excess and travel policies. It can save the consumer a lot of money and leave funds for the holiday or even the New Year sales.

There is also a great selection of companies offering Holiday home insurance, Landlord and Tenant Insurance & more.

     

For more information visit www.irishpropertyinsurance.com

Rents in Dublin are rising at the fastest rate since second half of 2007

Received the Irish Times this morning and the one page property section in the International edition had the headline " Tight supply drives annual rents in capital up by 6.4 per cent."


The Irish Independent said " Rents surge past €1,000 in Dublin - but fall elsewhere" and The Irish Examiner  said "Dublin rent rates outpace those outside the capital"

The PRTB - Private Residential Tenancies Board have published a rent index with the ESRI which is based on actual rents of more than 273,000 tenancies registered with the PRTB.

According to the report on the PRTB site, "Rents for private accommodation in the Dublin region continued to increase strongly in the third quarter (July-September) of this year, but outside the capital there was more modest growth. Looking at rents on an annual basis, Dublin rents grew by 6.4%, year on year (Q3 this year versus Q3 last year), but elsewhere rents actually showed a slight decline (0.2%) over the same period. These findings come from the latest Quarterly Rent Index of the Private Residential Tenancies Board (PRTB), which is compiled for it by the Economic and Social Research Institute (ESRI).

This Rent Index is the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland. All landlords are legally obliged to register tenancies with the Board and the number of new transactions in Q3 alone (July – September 2013) was well over 46,000. Another key feature is that it reflects the actual rents being paid for rented properties, according to the PRTB’s records, as distinct from the asking or advertised rent, which is the basis of other rent reports.

The PRTB website  also contains an Average Rent Dataset which  enables people to check the average rent being paid for five different categories of dwelling types throughout the country, in both urban and rural areas. This enables people to check what is the actual rent being paid for, say, a semi-detached house or a two-bed apartment in their neighbourhood, and in other parts of the country. 

For example, the average rent for a three-bed semi in Co. Dublin was €1,091; a one-bed apartment in Rathmines was €828.77, and a two-bed apartment in Blanchardstown was €924.02. Elsewhere in the country, a three-bed house in Glanmire, Co. Cork, averaged €833.80; it was €638.08 in Co. Limerick, and €725.57 in Co. Galway. (More sample average rents for around the country are contained in the table at the end of this statement.) 

The Irish Independent report went on to say "Some 46,000 households signed a new rental agreement in the July to September period, according to the PRTB, which is the Regulator for the rental sector. One in five households now rent their homes as a lack of mortgage credit and a preference for renting among younger people has made it more popular. This amounts to 475,000 households now renting, up by almost 50pc from 2006, according to separate CSO figures. 

 

Latest HomeLet Insurance Rental Index shows average rent is £571 in Northern Ireland

HomeLet the Landlord and Tenant property insurance specialists have published their September 2013 Rental Index.

Although the average rent in Northern Ireland fell from £582 in August to £571 it is still £11 better than it was a year ago.

According to our local HomeLet business manager " The latest HomeLet Rental Index shows there was a 1.4% increase of students referenced throughout the month, with those in Northern Ireland currently making up 23.8% of the region’s whole tenant population. Across the rest of the UK, average rents increased once more to £854 per month"

If you are looking for Landlord or Tenant Insurance visit the HomeLet site here .

Budget 2014 - Ireland

The 2014 Budget was held last Tuesday (15th October). According to The Irish Times report regarding property - €30 million to be allocated to the State’s house building programme which will deliver 500 houses, including new builds and the upgrade of previously uninhabitable units.

They will be seeking public money to fund “stable homes” for families who are long-term homeless.

Further €10 million to be allocated for unfinished estates.

Home renovation tax incentive scheme gives tax credit to homeowners carrying out works on their homes in 2014 and 2015

€10m will be allocated to resolve problems at Priory Hall apartment development  in Donaghmede, Dublin.- It was built in 2007, however according to "The Journal.ie" A flooded car park was the start. Residents stopped parking their vehicles in the underground area in 2007 when, one morning, they discovered their cars floating out of the space. Dampness in the homes was also becoming problematic and there was shoddy workmanship on display in every corner.

The entire complex is a fire hazard. A really, really dangerous one. Back in October 2011 when the residents were evacuated, Justice Nicholas Kearns asked that a fire engine remain at the development in case a blaze took hold as the residents moved out. The homeowners, however, had been living in the same properties for years at that stage. Tom McFeely the builder cannot afford to fix the problems. Read More Here 

The IPOA (Irish Property Owners Association) said “Government has missed a golden opportunity to reinstate the much needed flat in the private rental sector, by not including the pre 63 type property in their scheme for renovation of houses.  Inclusion of these type of properties would generate work, bring up, the standards, energy efficiency and bring back much needed accommodation in the private rental market, where tenants are currently experiencing huge shortages of affordable homes.“ Stephen Faughnan, Chairman of the Irish Property Owners Association 

Irishlandlord.com have summarised "So how will budget 2014 effect you?"

NO CHANGES IN INCOME TAX, USC AND VAT RATES

NO INCREASE IN EXCISE DUTY ON FUEL  

 

 

 

Minister Noonan said "I am introducing a home renovation tax incentive scheme. The Home Renovation Incentive will provide an income tax credit to homeowners who carry out renovation and improvement works on their principal private residences in 2014 and 2015.

"The incentive is payable over the two years following the year in which the work is carried out. The credit will be calculated at a rate of 13.5% on all qualifying expenditure over €5,000 up to a maximum of €30,000."

On the issues of mortgage arrears, Mr Noonan said:“Within the next twelve months I expect that the vast majority of customers who are currently in (mortgage) arrears will have been offered and accepted a sustainable solution.”

Extension of the property regeneration programme, which previously applied only to Limerick and Waterford, to Cork, Galway, Kilkenny and Dublin. 

There was no special VAT rate for the construction sector which several industry groups had been lobbying for. 

€10m to be provided to fix Priory Hall (mentioned earlier on this page)

Investment in social housing to re-commence  

 

 

"NAMA expects to have approved €2bn in funding for Irish projects between 2011 and 2015 

"This level of investment could be increased depending on the pace of economic recovery.

The investment will include the construction of 4,500 new houses and apartments in Dublin, in addition to much-needed office accommodation in the city centre and investment in commercially viable retail projects."

  (Source Irishlandlord.com)

  

 

 

 

 

 

 

 

 

 

 

 

 

 

  

Great choice of holiday home insurance products now available at Irishpropertyinsurance site

jml Insurance are pleased to announce that they have a great choice of holiday home insurance companies advertising for the Overseas and UK and Irish markets.

jml Insurance have been advertising Overseas property and UK Holiday home insurance products since 2006.

More and more consumers are turning to insurance policies written in their own language and this applies if they own a property in a country like Spain or actually live there permanently.

There is a huge market for holiday homes in different parts of the world and a company like Intasure Insurance offers holiday home cover in the major European countries and in addition countries like South Africa and the UAE.

Other international coverage insurance companies include Copeland Insurance and Staysure   Insurance.

Andrew Copeland Insurance was founded in 1977 and they insure domestic property in France, Spain, Portugal, Greece, Italy, The Republic of Ireland, Germany, Belguim, The Netherlands, Denmark, Sweden, Switzerland, Malta and Cyprus

Staysure Insurance was established in 2004 and they cover Spain, Bulgaria, France, Portugal, Italy, Greece, Cyprus, Ireland and the United Kingdom.

For clients with holiday home property in the UK, Rentguard Insurance provides a comprehensive insurance cover for UK holiday and secondary homes. Rentguard Insurance was established in 2001.

All four of these insurance companies have been established for years. Intasure Insurance also offers Expat home insurance, main residence home insurance in the UK, Landlord and Tenant products and business insurance in the UK.

Rentguard Insurance offers a choice of commercial insurance in the UK together with Landlord

And Tenant insurance products.

Staysure Insurance have become specialists for the “over 50’s” and offer a range of products including Travel insurance, Health and Life insurance, Home insurance and Car insurance products.

Philip Suter of jml Property Services said ”jml-insurance is not a comparison site operation. The insurance companies advertise their products on our sites and there are too many companies that will confuse the customer.”

“The customer makes all the arrangements direct with the individual insurance company “

More information at

 http://www.irishpropertyinsurance.com/Irish_Holiday_Home_insurance.htm 

How to deal with mortgage debt event

Have just received a notification from Irishlandlord.com which looks interesting if you are an investment property owner.

How to deal with mortgage debt

Do you have mortgage on your home or on an investment property?

Are you burdened with mortgage debt? In negative equity? or is your interest only period coming to an end?  
Mortgage debt is now the number one source of anxiety for most property owners.  

With the collapse in the property market many property investors are experiencing reduced rental income, negative equity, increasing interest rates and in many cases increasingly aggressive lenders.  

So what should you do? How do you got about engaging with lenders in a way that achieves real results. How do you achieve mutually acceptable solutions that your lenders will agree to?  

Our evening seminar on Monday 11th November 2013 will deal with this topic:  

Our expert speakers will include:
  
A former senior banker, with 30 years' experience who now helps clients to reach agreements with lenders that provide a long-term solution and allow them to get on with their lives.  

An accountant and property tax expert  

Hear real case studies and gain important and actionable tips & advice  

WHERE & WHEN 

This evening seminar will take place in the Louis Fitzgerald Hotel on the Naas Road, Dublin on Monday 11th November at 7pm

Early bird tickets are €20 each or two for €30 - PLACES ARE LIMITED so book today Here! 

Source: Irishlandlord.com 9-10-13

Dublin City Council seeks properties to meet emergency need for families and individuals who require temporary accommodation

Just been notified by the Irish Property Owners’ Association that  Dublin City Council has an immediate requirement for suitable properties to meet emergency need for families and individuals who require temporary accommodation. 

They go on to say "We are seeking properties comprising multiple units which can 
accommodate between 15-40 persons, contain en suite bathrooms or shared facilities (may include kitchen facilities). 

These buildings may have in the past been used for;  

. Residential type properties (e.g. ex-nursing homes, care homes etc) 
. Commercial type properties (e.g. hostels, B&B) 

All properties must comply with environmental health standards and fire  safety regulations. Lease or service agreement options will be open for consideration and negotiation with the property owner.  

We would be obliged if interested members could make contact 
directly with Dublin City Council on; 

Phone; 01 222 6804, or Email to yukwah.cheung@dublincity.ie " 

It is Carbon Monoxide Awareness Week 2013

I Have just received an email from Irishlandlord.com that it is Carbon Monoxide Awareness Week.

The dangers associated with carbon monoxide are promoted to the general public every year through television, radio, press, digital and direct mail advertising.  This year, however, in an effort to do something different and to generate greater public engagement on the subject of carbon monoxide, a dedicated Carbon Monoxide Awareness Week is being held from September 23rd to September 29th.  

If you are letting out your property:

• Make sure that all appliances are installed and serviced annually by a registered gas installer, registered oil technician or qualified service agent for your fuel type
• Sweep chimneys regularly and make sure they are kept clear
• Check that tenants have not blocked air vents (they often do)
• Ensure the rooms in your property containing heating or cooking appliances are properly ventilated
• Install an audible CO alarm - every rental property should be fitted with a carbon monoxide alarm, it could save a life.

Carbon Monoxide can be produced when ANY fuel is burnt, including oil, gas, wood and coal.

Carbon Monoxide is odourless and colourless so for added protection install an audible carbon monoxide alarm.  Make sure the alarm complies with EN 50291, carries a CE mark, has an end of life indicator and carries an independent certification mark.

Unfortunately in the Republic of Ireland it is not mandatory to have gas appliances checked annually by law when a property is let out.

For rental properties in Northern Ireland together with England, Scotland and Wales all gas appliances must have an annual check by a qualified gas engineer and a certificate issued and one of these has to be carried out before a property can be let.  The engineer must be Gas Safe registered. Gas Safe is the official list of gas engineers who are registered to work safely and legally on boilers, cookers, fires and all other gas appliances including Northern Ireland.

If this idea was introduced into the Republic of Ireland, it would naturally add expenses for the landlord, however if the landlord is doing what they should do, having the appliances serviced annually then it would not cost much more. However it would mean that no one could let out their property without an annual safety check.

For more information on Carbon Monoxide Awareness Week 2013 visit their website Here

Gas Safe Website for Northern Ireland - Here

Source: Irishlandlord.com and Carbonmonoxide.ie

Irish Times Property Section appears to have gone on a post summer holiday diet

The Thursday edition of the Irish Times was delivered as normal last Thursday (5th September 13) and the top right hand banner says "Residential property: 18 pages" 

So I went to the second section and in the 16 page "Business + Technology" pages 7 to 10 has the property feature. I have noticed this year that quite often there are only two or three pages of property in their "International edition".

It is common knowledge that after your summer holiday when you have probably been eating and drinking too much that the ads appear for loosing weight, but why does the Irish Times cut out so many pages now. Some Thursdays it is waiver thin and whereas the TV and radio guide page used to be there it is very rarely there any more.

In England we pay £1.25 for the International edition and in mainland Europe (if you can get it), it will cost €3.75.

If estate agents are advertising and want buyers from overseas, they won't attract them if the property section remains slim. I remember when the international edition had a proper property section like in the domestic edition and also had colour in the photos. Those days are long gone.

What will they cut next?  If anyone knows why one edition comes with 4 pages of property and another with 18 please reply to this blog.     

August Bank Holiday 13 Insurance Reminder

It is the August Bank Holiday weekend and unfortunately the weather does not look too good, however make the most of the break and take your umbrella with you on Sunday.

Most large retailers will be open as usual and some are running the odd sale. (Don't they always do this when there is a bank holiday on?).

If you are going away on holiday whatever you do, don't forget your Travel Insurance and Car Hire Excess Insurance. 

There are a great selection of products being advertised on the irishpropertyinsurance  web site.

It is so easy to forget, then what do you do? If you are hiring a car you will normally find that you are paying a lot more for your excess insurance if you buy it from the car hire company. 

Have a great bank holiday weekend and if you are taking part in The Gathering 2013 hope it all goes well.

The Gathering looks like it will have over two thousand gatherings this summer

The weather may not be brilliant so far this summer, however the organisers of The Gathering 2013 are looking very much on the bright side.


Looks like this was taken on Dollymount beach just outside Dublin

 They have recently issued a press release saying "Bumper Bank Holiday Weekend of 165 Gatherings Kicks off Summer Schedule" 

A massive 2,126 Gatherings are now planned to take place this summer. The packed Gathering Summer schedule kicked off with a bumper Bank Holiday weekend of 165 Gatherings. June 1st was the busiest day for the Gathering to date as 79 Gatherings were held across the country but the busiest period for Gatherings is yet to happen with a total of 176 gatherings taking place across the August Bank Holiday weekend 2nd – 5th August.

The counties with the most summer Gatherings organised are

• Dublin with 318
• Cork with 179
• Mayo with 158
• Donegal with 126
• Galway with 119
• Kerry with 111

The Gathering Ireland is now encouraging people to extend an invitation to friends and families overseas to come to Ireland this summer and be a part of it.  Jim Miley, Gathering Project Director said,

“Over 1,300 of the 4,000 or so gathering events planned for the year have already been held. Just over 2,000 of the remaining planned events are to held over the summer months, a real testament to the interest and commitment of communities right across the country.
“This Summer there is something for everyone, from music festivals, dog shows and genealogy tours to world record breaking attempts and surfing sessions.  Now is the time to pick up the phone and invite some friends from overseas to come to Ireland and sample a few Gatherings this summer.”

Some of the 2,126  Summer Gatherings are entirely new, while others will be familiar to an Irish audience but have this year been given an additional international element.

Throughout 2013, Ireland is opening its arms to hundreds of thousands of friends and family from all over the world, calling them home to gatherings in villages, towns and cities. (source The Gathering)

Find out more at The Gathering Ireland 2013 Website Here

Looking for self catering accommodation for your stay? Visit jmlvillas/Ireland Here

What about car hire? Find out more here 

and of course Travel Insurance...Here

Enjoy The Gathering and a visit to Ireland in 2013

Irish Property Owners’ Association Landlord Survey throws new light on Arrears

A new survey on debt among buy-to-let owners, carried out and released by the Irish Property Owners Association (IPOA,) has shed an important light on the mortgage arrears position of buy-to-let properties.

The survey covered a random selection of 491 buy-to-let properties which had overall debt attaching of €164.1 million, 58% of which was owed to the two main banks in Ireland, Bank of Ireland and AIB.  It also showed that 30% of the properties had over 12 months arrears, while 70% were in arrears for less than one year. 

Commenting on the results, Stephen Faughnan, IPOA Chairman, said that the figures “gave the lie to the notion that landlords were immune to the recession”.  He said that 57% of respondents indicated they were in negative equity with their buy-to-lets, and went on to strongly rebut suggestions that the other 43% were all in good shape, as negative equity only comes in to play when selling or refinancing.  “Positive equity in a property does not always mean that the garden is rosy”, he said.

“Loans, services, unfair taxes and maintenance have to be paid. Undoubtedly, there are some landlords who are better able to weather the recession, but they are few and far between.  Some 74% of landlords have just one buy-to-let, and a further 24% have between two and ten properties. Landlords are hurting, just like other householders, and many of them went into the rental business during the boom years to supplement their future pensions, an idea heavily promoted by the Government and the banks.”

The IPOA survey also showed that the four most aggressive banks in cases of mortgage arrears are Bank of Ireland at 47% of respondents, AIB at 27%, and PTSB and KBC at 13% each.  He said he would like to think that the huge gap between AIB and BOI was due to the State shareholding being 100% in AIB, and some 15% in BOI, but the Government’s position of “standing aloof” from the activities of the bank “destroyed that thought”.  “The so called Relationship Framework which the Government has with the banks in which it holds a stake on behalf of the people is a hindrance to effective debt resolution,” he said.

 “It is preventing the democratic Government acting in the interest of, and on behalf of, the people, and is being used as a shield to guard against the transparency expected by the people, and actually goes against the common good.”    

He went on to criticise some commentators and politicians, describing them as “openly anti-landlord”, who ignored the fact that some one-third of the population make their homes in rented property.  “Unfair tax on rental income only fosters increased rents, and in many cases, tax is required to be paid on an actual loss.”  This arises when normal business deductions, particularly interest on borrowings, cannot be fully offset against tax on rental income.  He said the new Local Property Tax (LPT) is “another classic example” which cannot currently be offset against rental income “despite the Minister for Finance accepting that it is a legitimate expense in the business of letting property.” 

“Mr. Noonan has said that the LPT will be allowed against tax sometime in the future, but has refused repeated parliamentary requests for a time span,” said Mr. Faughnan. “He continues to sit on the fence in the manner of asking God to make you a better person, but not just yet. It is nothing short of an assault by taxation, a taxsault, on those who are providing good quality rental accommodation at a time when the State should be looking at landlords as partners in the provision of homes. It is a dangerous sleight of hand and does nothing to ease the burden for both landlords and renters.” 

He said the LPT should be payable by those who use the local services, rather than the landlord, and if that was done, there would be no need for a tax deduction. “Instead, while Mr. Noonan sits on the fence, it is understandable that landlords will inevitably pass on the cost to tenants by way of either increased rent or a supplementary payment.”

SURVEY RESULTS SUMMARY

Debts owed to -

BOI                :   36%
AIB                 :   22%
PTSB              :   17%
EBS                :    7%
Ulster             :    7%
BOS               :    4.5%
Danske, KBC and ACC  :  6.5% 


Most aggressive bank
BOI   :   47%
AIB   :   27%
PTSB :   13%
KBC   :   13%  

Source: Irish Property Owners’ Association

New PRTB Rental Index

The PRTB ( Private Residential Tenancies Board ) has launched a new national rent index, according to RTÉ  News a new database available that provides rent details for five different types of dwellings throughout the country - in both urban and rural areas.

 

People can log on free of charge to check rent levels for different locations and different types of dwellings



"This index takes the speculation and surmise out of renting," commented Ann Marie Caulfield, the Director of the PRTB.
"All our data is based on actual rents being paid for private accommodation right across the country, and this is very valuable information for all stakeholders concerned," she added

Irish Landlord .com says in it's newsletter

Unlike other rent reports the index is based on actual rents paid for rental properties as opposed to asking rents. 

The report was compiled by the ESRI and the data is based on the PRTB's register of tenancies.

The report shows that compared to Q1 2012 there has been a 2% increase in rents in Q1 2013, a 2.3% increase in Dublin rents and a 0.8% increase in rents outside Dublin. 

Rents in Dublin fell in the first quarter of 2013 by 1.9 % when compared with the final quarter of 2012 

This was due to a weakening of apartment rents in Dublin, which declined by 3.9%. 

Outside Dublin rents grew by 1.7%, having fallen in the fourth quarter of 2012. 

It is intended to publish the report on a quarterly basis. (Source Irish Landlord and RTÉ  News )