Thinking of Power washing your property? Here at Ocean Property Management, we manage a number of properties around Galway and, are equipped to handle all your properties power washing needs. In addition to removing built up dirt and grime power washing can also have some added benefits that you may not have considered before.

• Improve your Buildings curb appeal.

It never hurts to boost your buildings curb appeal, whether your building’s owner is looking to sell or lease out the space. Regularly having your building power washed by professional cleaners will make the building look newer and more aesthetically appealing to both onlookers and potential tenants.

• Prevent repairs:

Certain building materials, such as brick, may deteriorate over time if left unwashed. Bird droppings, mould growth, algae and dirt build up are all contributing factors to the wearing away of a buildings structure, as well as looking unattractive. For example, the acidity in bird droppings can weaken the roofs and gutter systems of commercial properties potentially leading to a collapsed roof or break. Simply cleaning the droppings regularly can reduce the risk of structural damage. Regular power washing of walls, windows, roof, and gutters can help cut down these risks and in turn, saving the business money in maintenance costs in the long run.      

• Clean associated spaces:

Its not just the walls, windows and roof that benefit from professional power washing, other exterior spaces associated with the building can be power washed as well. Footpaths and walkways in front of a building are some of the most popular and frequented spaces to be power washed.  Power washing the paths can remove unsightly gum and rubbish stains caused by regular public use.

• Promote health and protecting against injury:

Power washing can improve the surrounding environment for people in the building by eliminating potentially harmful substances. Pollutants, dust, pollen, dirt, mildew, algae, and bird droppings can all lead to negative health effects, such as trouble breathing, allergies and in some cases disease. When done regularly power washing can help prevent this from happening.

Consistent cleaning can also help prevent slips and falls, power washing the footpaths and other surfaces can help get rid of grease, mould, and other substances that cam cause someone to slip and hurt themselves.

• Get rid of Graffiti:

When it comes to commercial buildings a persistent problem that business can have, is the appearance of graffiti. While it may not hold the same structural or safety risks as mould or bird droppings, graffiti and spray paints can be among the most offensive and unsightly stains on a building. Power washing can help remove the paint and give your building the respectable and professional look that it needs.

Attached are some photos taken by our maintenance team, while hard at work blasting some of the built-up dirt and grime from buildings under our care around Galway so that they remain as appealing and pristine on the outside, as they are on the inside. 

Changes to the Residential Tenancies Act and Introduction of the Deposit Protection Scheme

The new Residential Tenancies Act was signed into law in December 2015 and represents the biggest change to affect the rental sector and landlords in over a decade.

The legislation contains many changes that will be introduced throughout 2016. These changes will also bring into force the legislation required for the commencement of the Deposit Protection Scheme which will be operated by the PRTB. The other key points to note are:

• The notice period for a rent increase has increased to 90 days
• The rent can only be reviewed every two years

As per Revenue Irish Tax & Customs the following expenses can be ducted when calculating your rental income or losses:

• rents payable in respect of the property, e.g. ground rent,
• rates payable to a local authority in respect of the property,
• the cost of any service or goods provided and for which you do not receive separate payment from your tenant, e.g. gas, electricity, central heating, telephone rental, cable television, water and refuse collection,
• maintenance of the property, e.g. cleaning and general servicing, exterior and interior painting and decorating,
• insurance of the premises against fire, public liability insurance, etc.,
• management, e.g. the actual cost of collection of rents and advertising for tenants, legal fees to cover the drawing up of leases or the issue of solicitors letters to tenants who default on payment of rent. Accountancy fees incurred for the purposes of preparing a rental account may also be deducted,
• repairs, (a ‘repair’ means the restoration of an asset by replacing subsidiary parts of the whole asset). Examples of common repairs which are normally deductible in computing rental income include:
  1. damp and rot treatment,
  2. mending broken windows, doors, furniture and machines,
  3. replacing roof slates.

However, you may not claim a deduction for your own labour.

• interest on money borrowed to purchase, improve or repair the let property. As some restrictions apply to deductions for this expense, see Interest paid on borrowings
• certain mortgage protection policy premiums,
• expenditure incurred between lettings in certain circumstances,
• allowances for capital expenditure may also be available. Please refer to Wear & Tear and Tax Incentive Schemes.

All landlords must be registered with the PRTB, but the registration fee can be deducted against tax, you can also claim a deduction for wear and tear as a capital allowance. According to Barry Flanagan, tax expert at taxback.com “Capital allowances are one of the most valuable deductions which are commonly overlooked by landlords,”.

For more information please visit A Revenue Guide to Rental Income

This site, or anything provided through this site, does not constitute legal advice and is not intended to constitute advertising or solicitation for legal services.

The Rent Index is a quarterly report produced by the ESRI for the Private Residential Tenancies Board.

The intention is that the PRTB will publish results quarterly, approximately one month after the end of the quarter. Separate indices are calculated for the national market, the national house market, and the national apartment market. Similar indices are calculated for Dublin and Outside Dublin.

For more information, reports and methodology please visit esri.ie

Private Rented Accommodation reaches record numbers.

According to Independent.ie almost one in seven of the population is now living in the private rented sector. The record is set with almost 700,000 living in leased houses, flats or apartments.

The amount of tenancies registered with PRTB since December 2013 has risen by 52%.  The National Economic and Social Council said that one in three renting was unlikely to be able to purchase a home in the near future due to raising house prices and deposit required to secure mortgage.

To find out more about challanges in rental property market and PRTB visit Independent.ie