Thursday 29 September 2016

Tips for happier tenants

Published 14/02/2016 | 02:30

Renting gives predictability, choice, flexibility and value
Renting gives predictability, choice, flexibility and value

Happy tenants make for an easier life for landlords

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1 There is a lot of ignorance and prejudice about renting. Look and learn for yourself. Learn about costs, savings, rights and duties. Think about long-term as well as short-term issues - especially about your home and where you work.

2 One of the best places to learn about renting is from the PRTB on prtb.ie. It's the Private Residential Tenancies Board - they give an authoritative and independent overview for both landlords and tenants.

3 Renting gives predictability, choice, flexibility and value. Research the advantages of renting - there are surprisingly many at different stages of your life. Renting doesn't always mean an apartment - it can also mean a house.

4 Long-term renters need to make pension or saving provision for accommodation after retirement when income reduces significantly. Homeowners eventually have an asset once they have paid off their mortgage - make sure that you make long-term income plans if you are making long-term rental plans.

5 Rent within your budget - accommodation (rent plus utilities) should not cost more than 30-50pc (max!) of your income. Location is the single biggest factor in cost - however, time and travel are also costs, a monthly short hop ticket will cost €119. Factor this into your calculations.

6 Have realistic rent expectations - places are smaller, older and more expensive nearer city centres - further out they are bigger, newer and cheaper. "Older is colder" is a good general rule - modern accommodation can cost significantly less to occupy than older places.

7 Renting is changing quite quickly in Ireland because of changes in law and practice. As more and more people rent, it is likely to continue to change.

8 Renting gives important flexibility for some types of employment. Patterns of employment see many people changing jobs more and more frequently - especially in the high-tech sectors. Renting can make this easier, especially if you are likely to spend time working abroad.

Sunday Independent

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