Ireland’s property industry is now heavily regulated. Legislation is constantly changing; and whether you are an experienced landlord, or renting your property for the first time, it’s wise to keep up to date with your legal obligations.
When engaging Borgman Earls, you can be rest assured that you are working with a fully licensed company (compliant with the NPSRA – National Property Services Regulatory Authority).
Upon receiving instruction to market your property, you will receive a ‘Letter of Engagement’ confirming the terms of our agreement. You will be required to sign this document; and return along with a certified copy of ID & copy of recent utility bill.
Under current legislation, when any new or existing property is offered for sale or for rent, the owner must provide a BER to prospective buyers or tenants. BER details must be included in ALL advertisements when a property is offered for sale or rent. We can arrange BER Certification if required.
Under the Residential Tenancies Act 2004, it is a requirement to maintain and have in place a building insurance policy for your property. If you are the owner of an apartment within a complex; this is generally included in the fees you pay to your Block Management Company. In addition we would also recommend landlords to secure full contents insurance (it is the responsibility of your tenant to insure any belongings they bring into the property). Many Insurance Companies now offer tailored insurance packages for Landlords.
It is a legal requirement to register each tenancy with the PRTB. The current cost of registration is €90. We will arrange the registration on your behalf. For further information on the PRTB please visit the following website www.prtb.ie.
Whether resident or overseas, all landlords must pay tax on rental income, under Revenue’s self- assessment system. For a thorough guide on all aspects of tax on rental income we recommend you visit the following website www.revenue.ie.