We have seen a frenetic property market in Dublin in recent years and incredible price rises for beautifully presented properties. However, on the flip side, there is a growing trend for sales fall-throughs after an offer has been accepted.
With no formal process in place when it comes to offering on a property in Ireland, and agents and vendors simply taking a buyer’s word for it when they make an offer, the transaction is naturally vulnerable.
It is astounding that a buyer’s word is all it takes to withdraw a property from the market and progress the transaction with the belief that the sale will complete.
Unfortunately, some buyers are offering on multiple properties at a time, going to the extent of getting to ‘offer accepted’ on two to three properties, which leads to fall-throughs further down the line. Given the sums of money involved in buying a property, from hundreds of thousands to millions of euros, this practice should be ruled out.
The lack of transparency and formality when offering on a property in Ireland is not acceptable in my opinion. Buyers who make multiple offers should be called out. If they say they are cash buyers, this should be proven in the form of confirmation from their solicitor. This is not a big request, and a buyer should happily oblige if they are genuine…
Read the full story at the Business Post.
View the print version here.
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Tenancy charges may vary, depending on the agreement we have with you, so it’s best to ask the INHOUS lettings department.
The following payments may apply when entering an Assured Shorthold Tenancy:
| First month’s rent | In advance |
| Tenancy Deposit | 5 weeks, or 6 weeks if annual rent is over £50,000 |
| Holding Deposit | One week’s rent, put towards your first rent due |
| Early termination when requested by the tenant | A charge not exceeding the financial loss experienced by the landlord |
| Default charge for late payment of rent | A maximum of 3% above Bank of England base rate, charged when rent is more than 14 days late |
| Default charge for replacement of lost key or security device | Equivalent to cost incurred |
| Changing the tenancy documents after the commencement of the tenancy, including change of sharer | £50 incl. VAT |
The following payments may apply when entering a Non-Housing Act Tenancy:
A Non-Housing Act Tenancy is formed when the annual rent exceeds £100,000 or the property is occupied by a Company rather that an individual.
| Inclusive of VAT | |
| Tenancy Setup Fee drafting and execution of tenancy agreement if supplied by us, collecting and holding the Security Deposit as Stakeholder, issuing protection certificates, if applicable, Open Banking type referencing of tenant and initial Right to Rent Checks | £360 |
| Check-in Fee checking into the property and reviewing inventory | minimum of £130 |
| Tenancy Continuation negotiating and drafting an extension | £150 |
| Change of Sharer – Deed of Assignment | £120 |
| Early Termination – Deed of Surrender | £120 |
| Guarantor Referencing Fee (each): | £30 |
| Deed of Guarantee Fee: | £50 |
| Late payment of rent | 3% above the Bank of England base rate |
This guide is for tenants and landlords in the private rented sector to help them understand their rights and responsibilities. This guide includes a checklist and further detail on each stage of the rental process.
Tenancy charges may vary, depending on the agreement we have with you, so it’s best to ask the INHOUS lettings department for a full breakdown of costs. Here’s a list of what you can typically expect to pay:
| Lettings Service Only: | 10%+VAT (12% inc. VAT) – Including rent collection |
| Letting and Management Service: | 16%+VAT (19.2% inc. VAT) |
| Short Let (less than 6 months): | 24%+VAT (28.8% inc. VAT) |
| Lettings Renewals Service: | 8%+VAT (9.6% inc. VAT) |
| Lettings and Management Renewal: | 14%+VAT (16.8% inc. VAT) |
| Short Let Renewal (less than 6 months): | 24%+VAT (28.8% inc. VAT) |
Additional non-optional fees and charges
We will not be charging clients fees for referencing, tenancy agreements or deposit registration.
The costs of a clean, EPC, gas safety, EICR, PAT and inventory are set by third party suppliers and prices may vary. The below schedule is to give you an idea of what you would typically pay.
All fees stated are inclusive of VAT (calculated at 20%):
During the tenancy (if required
INHOUS is a member of and covered by the ARLA/Propertymark Client Money Protection (CMP) Scheme.
We are also a member of a redress scheme provided by The Property Ombudsman www.tpos.co.uk.