Monday 23 April 2018

Tips for happier tenants

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

Happy tenants make for an easier life for landlords

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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