When should I expect rent, after my property has been rented?
Rent is transferred 3 working days after it is received. This is to allow time for clearance into our account.
Who holds the deposit for the tenancy?
Maher Property Advisors would advise that, for your safety and security, we hold the deposit and act as a stakeholder, for the duration of the tenancy. This is held in a Non Interest Earning Clients Account. We find this prevents unnecessary delays when deposits are due to be refunded.
What happens if the tenants do not pay their rent?
We will endeavor to make contact, and organize to collect rent, as soon as possible. Failure to do so will result in the tenant being issued with 14 days notice for non-payment of rent. If rent is not paid after this time, we will serve the tenants with 28 days notice to vacate the property.
What happens if the tenant has a maintenance problem?
Maher Property Advisors has a 24 hour emergency maintenance division for whom each tenant is given contact details upon move in. We will contact the landlord after which we will contact the landlord to advise of any issues, or minor repairs, to be carried out. Any large maintenance repairs are cleared by you, the landlord prior to any work commencing.
Do I get inspection reports?
We can send a report after each inspection, with photos if required. We keep all inspection reports on file.
What happens at the end of the tenancy?
Towards the end of the 12 month tenancy, our renewals department will contact you and your tenants, 6-8 weeks prior to the lease expiry date, to see if both parties would like to renew the contract. After negotiations, when an agreement has been made, we will issue lease renewal documents to the tenants.
What happens if the tenants decide to leave?
If the tenant decides to move out, we will contact you and arrange the final inspection. We will then organise the re-letting of your property.
Do I need to pay tax?
Every Landlord is different. Those who live abroad, for example, are liable to pay 20% tax on rental income received. We can deduct this from the rent and forward to the revenue commissioners on your behalf. You should still contact an accountant to ensure you are fully tax compliant, and we can recommend accountants and tax consultants.
Do I have to register with the PRTB?
Yes. The PRTB registration is a legal requirement, and landlords who do not register run the risk of being fined. We will arrange the registration on your behalf, at the letting stage.
Do I need to register with the PRTB every year?
The PRTB registers all tenancy agreements. Registration lasts for the duration of the tenancy, but it is subject to a maximum of six years now. When a tenancy has been in existence for six years, it must then be re-registered with the PRTB. If, for example, a tenant occupies a rented dwelling under a one year lease, but remains on in the dwelling after this period, there is no need to register the tenancy again with the PRTB. Registration is not an annual requirement, but all changes in the tenancy, e.g. rent increases/deductions, must be logged with the PRTB.
Do I need to pay the Local Property Tax?
Yes. This tax is mandatory and failure to pay for this tax will result in large fines.