Changes to the Residential Tenancies Act and Introduction of the Deposit Protection Scheme

Irishlandlord.com has sent out an email a couple of days ago "Changes to the Residential Tenancies Act and Introduction of the Deposit Protection Scheme"

Changes to Residential Tenancies Act  

The new Residential Tenancies Act was signed in to law recently and represents the biggest change to affect the rental sector in over a decade. 

The legislation contains lots of technical details which will significantly affect landlords and will greatly increase the amount of paperwork and legal requirements to be complied with. 

The new act brings into force the legislation required for the commencement of the Deposit Protection Scheme which will be operated by the PRTB.

The legislation contains numerous measures many of which will be introduced on a phased basis and www.irishlandlord.com will keep you updated as the changes take effect. 

For now the key points to note are:

• The new deposit protection scheme has not yet commenced. For the moment there is no immediate change to the handling of deposits.
• The notice period for a rent increase has increased to 90 days. The legislation contains new requirements to provide comparable market rents and other documentation to tenants but this element of the act is not yet active.
• The notice periods for tenancies over five years duration have increased.
• The rent can only be reviewed every two years (as opposed to yearly under the old rules) For example if a tenancy began in September 2014 the rent cannot be increased until September 2016, under the old rules the rent could have been increased in September 2015  

2016 will be a challenging year for landlords and www.irishlandlord.com will he here to provide the information you need. We are meeting with the PRTB to clarify the new rules and will post the information on our web-site early in the new year.

Landlord Training

The rental market is now extremely complex with numerous rules and regulations to be complied with from the Residential Tenancies Act, Rental Standards and Taxation rules.  

In 2016 they will launch our on-line Residential Tenancies Best Practice Training Course which will include webinars and on-line materials.  

To register your interest for early bird pricing please e-mail info@irishlandlord.com with training in the subject line

 

The rental market in the Republic of Ireland is becoming as complex as that in Northern Ireland and other European countries.

 

Family Home or Investment opportunity for Sale in Drumcondra, Dublin 9 Revisited

On the 11th February this was published on the Irish Property Insurance + Blog site. At the time it had gone on the market at a guide price of €595,000 (Original article here)

As a result of the Central Bank's  new lending regulations brought in during the early part of 2015, houses do not appear to have been selling for prices paid in 2014.

The owners are being very realistic now about the market and this excellent family home in Drumcondra, North Dublin. They have instructed the agents  Kelly Bradshaw Dalton to advise anyone who has seen it and really liked it in the last few months who might have been able to afford a higher price under old lending regulations in 2014, that the owners would consider an offer of €510,000 for a quick sale.

This house has great potential for expansion to a 5 bedroom residence as other similar properties have been transformed in that road that runs parallel with Griffith Avenue.

For more information go to Kelly Bradshaw Dalton’s website at http://www.kbd.ie/property-search/?pid=582981

Or give them a call on (01) 804 0500

Excess car hire insurance article appearing in The Herald this week

The spring bank holiday is just around the corner and on Monday this week The Herald.ie published an article on hiring a car - "Consumer Champion: Drive a harder bargain on extras when hiring a car for holidays"

The article says "One of the biggest culprits is the excess. In Ireland we’re used to our car insurance policies having an excess of around €250 – this is the first bit of any claim that you have to pay. However, on hire cars the excess is normally anywhere between €600 to €2,000 making even a simple tip or scratch monumentally expensive"

I know that last week hiring a car in Dublin and taking out car hire excess insurance from an independent provider provision was made on my credit card for a debit of €1,350 if there was an accident. I would then have had to provide that money till the insurance company providing the excess waiver policy stepped in. Had I purchased the more expensive insurance the car hire company wanted to sell me (so they gained a good commission) I would not have had have the reserve available from my credit card.

The Herald.ie article emphasises exactly what type of situation can occur and go onto to say  "For instance, well known companies like Hertz and Avis charge hundreds for this cover at the hire desk, but buying it before you go can save. Carhireexcess.com, for example, sells Excess Cover starting at €2.99 per day in Ireland, so a little planning goes a long way".  You can find out more about Carhireexesscom here.

The article goes on to remind people hiring a car that taking their own Sat Navs and the fuel policy, It is essential to check this out when you make a booking and although some firms might be cheaper than others, the cheaper car hire companies might have a pick up policy with a full tank (of expensive fuel) and return it empty. That is not a lot of good if you are not driving far. Last week in four days of driving the car in theory was still over a quarter full. It was much more economic to fill it up and get a full fuel refund.

See the full Herald article here  

Looking for Travel Insurance for that holiday - Find out more Here

Visiting your holiday home over the holidays and looking for property insurance for holiday homes? Find out more here

Have you got your insurance for the Easter Holidays?

The Easter holiday period is nearly here and if you are taking a short break don't forget your insurance cover.


At Irishpropertyinsurance.com there are a great selection of companies advertising their products. Travel Insurance - Car Hire Excess Waiver Insurance - Holiday Home Insurance - Pet Insurance.


You might be about to arrange a spring or summer wedding. Don't forget your wedding insurance either.


To find out more, visit the Irishpropertyinsurance.com marketing website today buy those insurance essentials direct from the insurance companies themselves.


Insurance is one essential you can not be without FIND OUT MORE HERE  Open 24/7 all over Easter as well.

Family Home or Investment opportunity for Sale in Drumcondra, Dublin 9

Local Drumcondra, Dublin based sales agents Kelly Bradshaw Dalton have just been instructed to sell a three bedroom family home at Grace Park Terrace, Drumcondra, Dublin 9. 

The house has the potential for extension, subject to planning approval of a further two bedrooms and there is also a very spacious attic area which could be converted to another room. 

It has just been completely redecorated throughout and the majority of the carpets being replace in 2013 and three bedrooms in 2015.

Kelly Bradshaw Dalton describes the property as “ This beautiful partially red brick 1936 built home oozes character with its original open fireplaces and high ceilings creating plenty of light and space.

This is truly an outstanding opportunity to acquire a fine residence, further enhanced by a premier sought after location, in the heart of Drumcondra.”

Being on the north side of Dublin, it is in a very convenient location for Dublin Airport, Port and carry ferry terminal, M1 and M50 motorways.

It offers a great amount of accommodation for a family and of course there is room for expansion too.

The house has gas fired central heating, mains wired fire alarms in the hall and landing and a burglar alarm. BER - F

This garden has fine mature plants and shrubbery and provides plenty of privacy and

includes fantastic seating areas.

To the front of this delightful home lies an impressive 33 foot front garden, with ample space to create more private parking as the neighbours either side have done.

For more information go to Kelly Bradshaw Dalton’s website at http://www.kbd.ie/property-search/?pid=582981

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Ireland has world's fastest growing house prices

According to the report in the January edition of "Property Professional" - The Magazine of ARLA and the NAEA and other associations forming part of NFOPP - Ireland has the world's fastest growing house prices.

The report says that only six years after Ireland's crash saw 50% wiped from its property market values, the country has been declared as having the fastest growing house prices in the world.

The country has been named at the top of an influential global house price index which has it placed ahead of Dubai and the UK with Cyprus at the bottom.

The index has been put together by estate agents Knight Frank (that has branches in Ireland), reveals that in 2012 Ireland was ranked almost bottom at 54 out of 55 countries surveyed.

This was at the time when house prices were falling by almost 10% a year following the economic crash of 2008.

Its strong performance is down to the strength of the property market in Dublin.

The UK has been named in fourth place with prices up 10.5% in the year to September 2014, making it one of only six countries to achieve double digit price growth.

Looking for insurance in Ireland? Visit irishpropertyinsurance here

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