As the owner, you have a number of obligations to be fulfilled before you can let a house or apartment to a tenant. Regarding the tenant or the law, here are landlord obligations when renting out in Ireland.
Landlord obligations regarding tenants
The first obligation of the owner is to provide a property in good condition and to ensure to keep it in the same shape as the first day of the rental, over time.
For this, it is necessary to provide your tenant with your contact information (or the one of the real estate agent who manages your property). You must also inform him of any inspection or work under the property and repay him for repairs he performs.
Keep a property in good condition, in the same shape as on the first day of the rental.
Every month, you will ensure to submit a receipt and a record confirming the payment of rent if there is no written contract between you. In the case of a rental price review (only one possible increase every 2 years since December 2015), the tenant must be notified in writing 90 days before the payment date of the next rent.
Finally, upon termination of the lease, the tenant must be informed in writing with a notice period which is fixed depending on the term of the lease, unless the tenant behaviour was harmful. See table below:
|Notice Period||Rental Period|
|28 days||Less than 6 months.|
|35 days||6 months or more but less than one year.|
|42 days||1 year or more but less than 2 years.|
|56 days||2 years or more but less than 3 years.|
|84 days||3 years or more but less than 4 years.|
|112 days||4 or more years|
When the notice is given, and only at that time, the tenant and the landlord may agree on a shorter notice period.
Rent review is only possible every 24 months with a written notice of 90 days.
At the end of the contract, an owner has the right to retain the deposit in part or in full in the following cases: inappropriate notice incurring a loss of income for the owner, unpaid bills, damages. If no problems are present, you are obliged to return the deposit immediately to the tenant.
To be fully prepared to rent out your property, read “6 questions to ask yourself when renting out in Ireland”.
Landlord obligations regarding the law
By law, the owner must declare online his property on www.prbt.ie or download a reporting form on this website to be returned by post.
All owners must pay taxes on rents received. The Revenue Commissioners use a self-assessment system for tax on rent. If you are an owner and you are registered for self-assessment, you must do so and complete the TR1 form. You may also benefit from deductions for certain expenses related to renting.
Don’t for get to declare the property you are renting out.
Landlord obligations regarding insuring his property
Contrary to what one might think, it is not mandatory to insure your property. However, it is strongly recommended to do so. If you have a mortgage at the bank, they will probably insist that you opt for home insurance. If you have tenants, it is more than advisable!
This insurance is used to prevent damages to your home, whether by accident (water damage, fire) in case of natural disasters (storms, floods, etc.) or in case of theft.
It is strongly recommended to insure your property.
There are several levels of insurance. For example, you can make some of the content of your property (furnished property, high-tech, appliances, flooring). In some cases, your old belongings can be replaced, in case of damage, with new goods. You will need to estimate the value of the contents of your home, to be repaid in case of damage.
If you have the opportunity, it is preferable to take a comprehensive insurance. It helps protect you against loss or theft, accidental damage for personal valuables, such incidents have occurred inside or outside the house.
You can then choose to opt for a total value of your apartment or detail again each element individually.
Everything has a value so do not forget anything! And make sure your garage / shed is also covered.
Always check your repayment terms before carrying out any repair or replacement. You may be entitled to make a claim with your insurance rather than paying all by yourself.
What do you to fulfil all your obligations as a landlord?
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