Advice on renting a property in Dublin
Most Estate agents in Dublin will tell you the property market is starting to move again in Ireland but with liquidity still quite slow from the banks the masses are still renting.
We find ourselves in a situation where there is a shortage of stock which is driving rents upwards and also causing people to look outside Dublin to the larger commuter belts. Haden Properties have seen an increased number of enquiries per property and on occasion queues are back at some properties mirroring the days of the boom.
When you finally make the decision to move are you ready? That couple ahead of you in the queue for the fab 2 bed in the area you have been looking around for weeks might place a deposit before you can, then what? If you use Haden Properties step by step process to renting a property you should have the competitive edge.
Firstly have you your references to hand?
- Employer’s references – this should state what type of employment contract you have, full/part time and when you started working there. It should be signed employers contact details.
- Landlord reference – traditionally this states your previous address, the frequency of the rent (monthly/weekly) and the dates you resided there. It should also be signed and have landlord contact details.
- Bank reference / statements, (within the last 3 months) – This can be a funny one as people have privacy concerns in relation to their bank statements. Certain banks will provide a reference letter, it simply states that you have an account there and it is in good standing. However as references are at the bank discretion they may not issue one, in this instance statements are requested so we can see there is a mandated salary coming in to meet the rent and that the account is not heavily overdrawn which could signal alarm bells. If you feel uncomfortable with handing over your bank statements you can let the agent view them and hand them back, the majority of agents will be satisfied with this.
- Photo I.D. Passport / Drivers Licence – these copies should be in colour and show all the details as per the specific document.
- P.S. number – Your pps number is specific only to you and no one else will have the same number, this will be entered in your lease and also on your P.R.T.B registration.
- Contact No. & Email – These will also be entered in your lease and your P.R.T.B. registration.
You should have a folder with these to hand if you are attending the viewing of a property you have a strong interest in and be in a position to place a deposit, (traditionally one month’s rent) if you wish to reserve the property. In this competitive market the first to place a deposit will be ahead of the rest as the property is then reserved in their name whilst the references are checked and the landlord is informed of their new potential tenant. Once all is well with the references you should be issued a draft copy of the lease and confirmation of an occupancy date for the property.