Article published by the Galway Advertiser, March 2023.

Finding accommodation can be a daunting task for students and parents alike. Galway and indeed other cities in Ireland have experienced an acute shortage of suitable student accommodation over the past five years. The following are our five tips for sourcing accommodation for the upcoming academic year:

Be Early

The old adage ‘the early bird catches the worm’ truly is relevant to finding accommodation. Most student residences start accepting applications from 1^st February yearly. Bed spaces tend to fill quickly so make sure to apply early and put your name on all waiting lists as spaces will become available as cancellations occur. If you are currently renting and you’re happy with your accommodation, then approach your landlord early to re-book the accommodation for next year. The universities have accommodation offices and can be very helpful in finding accommodation.

Be Prepared

When viewing accommodation have your previous landlord references to hand. This will help speed up the application process. Where applying for private accommodation form a group with your friends as landlords tend to prefer renting to groups as opposed to individuals. Groups consisting of 3 to 4 students will find sourcing student accommodation easier than larger or smaller groups. Make sure that you have your deposit ready to be paid. Delays in paying a deposit may result in losing a provisionally reserved property.

Be Safe

Beware of accommodation scams in the private accommodation market. Always view the accommodation in person with the landlord or agency before transferring your deposit. Avoid private landlords who are unwilling to meet in person or show the property prior to you paying a deposit. Check that the agency is registered with the Property Services Regulatory Authority. Always pay your deposit by bank transfer, and only to a bank account registered in Ireland. Request a receipt for your deposit payment.

Be Smart

Know your rights but also your obligations. You are entitled to the peaceful enjoyment of your accommodation, but you must pay your rent on time and keep the property in good condition. Remember your current landlord will be able to provide you with a reference at the end of your tenancy. This is a valuable document and may assist you in finding accommodation in the future. Respect your neighbours, do not make excessive noise, or hold large parties. The student code of conduct may apply to your behaviour outside of the university.

Be Savvy

Make sure that you can afford the accommodation rent before committing to a lease. Consider sharing a room, this will reduce your costs and assist in your overall budgeting. Ask your landlord if they would be willing to include utilities such as internet and refuse and ensure the full return of your deposit by leaving your house in a clean and tidy condition.

Ocean Property Management was established in 2013 and provides both student residence and private accommodation to the Galway student market. Please visit our website and follow us on social media for up-dates and property advice.

An article published in the property section of the Galway Advertiser , March 9th 2023.

The Multi Unit Development Act, 2011, commonly referred to as the MUD Act, introduced a framework to regularise private developments where Owners’ Management Companies (OMC) operate. These developments typically include apartments and other residential units but may include some commercial property.

The MUD Act has specific provisions in relation to the establishment and operation of a sinking fund in an OMC. A sinking fund can be viewed as a rainy day fund where monies are ring-fenced by the owners in a separate OMC bank account for non-recurring future capital expenditure. The legislation outlines a recommended minimum annual financial contribution of €200 per unit, however, this amount is simply a guideline and may not be an entirely suitable contribution amount for every development. It is important that OMC directors are aware of their responsibilities to ensure the creation of a suitable sinking fund provision for both expected and unexpected future capital expenditure. A good tip for property managers and OMC directors is to establish a comprehensive list of crucial structures, plant or other items in a development and outline expected costs and timeframes for their replacement or upgrade. The result of this analysis, which should include a contingency element for unexpected events, can accurately advise the OMC on an appropriate annual sinking fund contribution per unit.

According to the Society of Chartered Surveyors, Ireland the majority of OMCs do not currently have adequate sinking funds in place, due to issues such as a lack of an appropriate annual invoicing scheme or a company carrying large debtor balances, meaning that present owners and future purchasers may face higher service charges than previously experienced. In some EU countries more accustomed to apartment living such as Finland, which has a similar sized economy to Ireland, there is a direct correlation observable between the financial health of an apartment complex management company and apartment property prices. In Ireland as our apartment buildings age a similar relationship may become evident. 

In essence, the earlier that an OMC puts in place an appropriate annual sinking fund contribution scheme, the greater the long term protection of their members’ assets. I often get asked by prospective apartment purchasers what they should look out for when surveying the market. I would advise them that one of the most pertinent questions to ask is what is the overall financial health of the management company, and the position of its sinking fund.

Joseph Ronan is a Senior Property Manager in Ocean Property Management. Ocean Property Management was established in 2013 and offers a full range of professional property services.

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. 

This Summer Home Maintenance Guide includes tips to make the most of the dry months and give your property some TLC!

1. Improve the landscape of your home.

If you were unable to get to your home’s garden during the spring, it’s not too late! The summer is a fantastic time to work on your green thumb, to beautify the appearance of your home. Consider adding mulch to the garden beds, which create a clean appearance. Mulch reduces weeds and locks in moisture, keeping plants healthier during the hot temps. Also, prune flowers, bushes, and trees, so they’re away from your home’s exterior, roof, and central AC unit.

2. Update or give your decking some TLC!

Check your deck to see if any boards look like they’re rotting. Have them replaced. Pour water on your deck to see if the boards should be resealed. If the water beads into small puddles, it is okay. If it sinks into the wood, you should reseal it to protect against water damage.

3. Upgrade old windows and doors.

Windows should shut properly to maintain temperature control. Check the sealant around indoor and outdoor windows and replace if necessary.

4. Check your home’s insulation.

You can find insulation issues pretty much anywhere throughout your house, from the front door to the attic, to cracks in your garage door (especially if the garage is attached). With higher cooling costs in the summer, now is time to seal any insulation gaps you may encounter.

5. Inspect your attic or basement.

Check both the basement and attic for evidence of pests, insects, water damage, mold, or mildew. Turn off the lights to check for any sign of peeking daylight.

For more tips and advice on your property follow our Social Media Channels.

Here is our complete property maintenance guide for all seasons to help landlords or home owners!

WINTER!

1. Trim your trees

With the leaves gone, you can assess whether trees or shrubs surrounding the property could do with pruning. If there are branches that are looking unsteady and might pose a health and safety hazard, it is better to cut them back now in a controlled way than have them come down in bad weather. Before carrying out any work it is also worth checking whether the tree is subject to a tree preservation order, particularly if the property is located in a conservation area.

2. Boost insulation

Draught proofing is one of the cheapest and most effective ways to insulate and save energy; check for any gaps in windows and doors and use sealant to help keep the cold weather out and moisture levels down. A quarter of the heat from a property is lost through an uninsulated roof, so don’t forget to check the loft. Heat will always flow from warm areas to cooler ones so make sure your tenants encourage the circulation of heat around the property. They will appreciate the reduction in heating costs, and you will be helping to protect your property from condensation and damp.

3. Lag water tanks and pipes

Lagging water tanks and pipes reduces the amount of heat lost, so it costs less to heat water and hot water stays hotter for longer. Lagging pipes also helps stop them freezing and bursting when the temperature drops. Hot water cylinder jackets, pipe insulation and radiator reflector panels on external walls are all low cost, easy to install and will reduce the escape of heat.

4. Communicate with your tenants

Offering your tenants helpful advice on how to stay safe and warm can strengthen your relationship and help ensure your tenants are taking care of themselves and your property. Ask tenants if there is anything they are having problems with – any drafts or dripping taps for example. Even a trickle of water could freeze and block pipes.

SPRING!

1. Turn on the taps

If you have outdoor taps, turn them on to see how much water is coming out. If it is very little, there is a chance that the pipes could have been damaged during the cold weather.

2. Inspect the wood

Warmer weather after the onslaught of winter provides perfect conditions for wood rot. If there are areas of the property where protective paint has come away, look for rotting wood and get any affected areas seen to before they deteriorate further.

3. Bolster your fence

If the fence has taken a battering during winter, get it summer ready now by carrying out repairs.

4. Watch the cracks

It is not just the roads that suffer damage in cold weather. Have a look around your rental property’s patio and driveway to see if there are any cracks. Minor ones could be easy to fix yourself, preventing them from turning into unsightly crevices which might present a trip hazard to your tenants.

SUMMER!

1. Bleed the radiators

Trapped air bubbles reduce the efficiency of your heating system and can also lead to damp spots. Bleeding the radiators when they are unlikely to be in use can get rid of these air bubbles, so they are ready to fire on all cylinders come winter.

2. Clear drains

It often takes a drain stuffed with dead leaves to spur a clear out. But how many times do you see them becoming overwhelmed in the midst of a summer downpour? Give the drains on your rental property the best chance to do their job by seeing to them all year round.

3. Get your boiler serviced

Avoid the desperate phone call from your tenants informing you their boiler has gone on the blink four months down the line by getting a qualified engineer to service it in plenty of time. Doing this in summer means that if there is a problem, it can be fixed well in time for the winter.

4. Get painting

Exterior paint does not just improve a property’s kerb appeal if you are between tenants, but it also protects window frames and doors. Spells of warm, dry weather are the best time to do this as allowing the paint to bond to wood that is not damp will make the finish more durable.

AUTUMN!

1. Wrap up the summer

Cover or store untreated wooden furniture you don’t want to see damaged and fold away the hosepipe, being sure to empty it of any residual water. If you have any delicate plants, now is the time to bring them indoors before they are damaged by the first frost. Clear any fallen leaves and other debris and don’t forget to plant bulbs for a spring display next year!

2. Check outdoor lights

Thanks to the clock change, long nights are swiftly dropped on us, which can be a shock to the system. Make the evenings easier for your tenants when they are trying to find their house keys in the dark by replacing any bulbs that have gone from outdoor lights.

3. Clear your gutters

This is a job best left to late autumn when the majority of leaves have been shed but before it gets so cold that water will freeze in the gutters, causing them to pull away from the building or bursting your pipes. Icicles may be pretty, but they are also potentially dangerous.

4. Take a look at your roof

While you are up there, see if you notice any slipped or broken tiles, weathered flashing or cracked caulking. It will be easier to get someone in to fix any problems now than a couple of months down the line when daylight and fair weather are in short supply.

We take care of the legalities of lease agreement and collect electronic signatures. If you do not have the time or inclination to deal with the letting & management just leave it all to us with our Full Management package.

CONTACT US TODAY!

There are a lot of things to consider when selling your home and you’re guaranteed to be feeling a mixture of emotions about the situation which can be really overwhelming and quite distracting. There are lots of steps in the process leading up to selling a property, all of which are incredibly important, so ensuring that you are well informed about the process can be really beneficial. 

There is no denying that selling a house in Ireland can be difficult if you have no idea where to start.

Here are a few tips!

1. GET YOUR PROPERTY VALUED!

Knowing how much you can expect to sell your property for will help you when sorting out your finances and searching for a new property to purchase. Alongside market valuation, it is also beneficial to know what other properties on the market your home will be competing with, get in touch with us today and we can help.

2. ORGANISE YOUR LEGAL DOCUMENTS.

Another important step is getting in touch with a solicitor. Your solicitor will then be able to request the title deeds and supporting documentation for your home. These are usually held with your bank if you still have a mortgage on the property. If you don’t have a mortgage then your solicitor will draft contracts for sale so that they are ready to issue as soon as the property is sale-agreed. Completing this step early can help to eliminate potential delays further down the line. Documents needed when selling your property include proof of identity, planning documentation, PPS number, marital status, title maps, NPPR certificate, BER cert and title deeds. Our sales team can manage the headache of this for you.

3. GET A BER CERT FOR YOUR HOME!

You must ensure you have an up to date BER cert before selling your property. This is a mandatory certificate that almost every property being sold must have and provide to the buyer. The cost of a BER cert varies depending on the size and type of property, but generally costs in the region of €120-€220.

5. PREPARE YOUR HOME AS BEST AS POSSIBLE!

Like anything your home has to be marketed, and fixing up minor issues and painting old bathrooms and windows can help improve the look and attraction of your property.

Every property we sell has something wonderful and unique about it. The secret is how to let it show and let your buyers fall in love with it.

• We support you through every stage of the sale process. 
• We don’t just advertise your property. We’ll actively help you present it so that it generates as much interest as possible. 
• We can deploy a team of in-house tradesmen to help you refurbish your property before we bring it to market.
• We use the latest technology to market your property (professional photography, video tours).
• We offer unbeatable savings in commission.

ATTRACTIVE COMMISSION
ONLY 1% OF THE SALE PRICE

GET STARTED TODAY!

Irish House Price Report Q4 2016 by Daft.ie

The new housing mantra is supply, supply, supply… Accoring to Daft report, in total, Ireland needs at least 40,000 new dwellings a year and probably closer to 50,000. These will be concentrated in and near the urban centres and will be disproportionately homes for one- and two-person households, such as apartments, downsizer homes and student accommodation. As the latest figures show, without this kind of supply, we will all have to spend more and more of our income just to have a home.

To read more please visit Daft website here.

According to Cushman and Wakefield report the impact of lower oil prices on economies and real estate markets remains of key importance to the prospects of occupier markets around the World. Locations with a high proportion of oil and gas related output will be the most vulnerable to the oil price decline.

For the UK, the benefits of a broad increase in consumption and the potential for this to positively impact rental growth in the retail sector, plus the boost to the non-oil producing corporate sector via reduced costs are, on balance, likely to outweigh the negative impact on key oil-producing locations.

To read more please visit worldpropertyjournal.com

Financial Times is holding a 9th edition of Property Summit in London this year.

The Property Summit is taking place at the Four Seasons Hotel Park Lane in London on 12 November 2015. It will explore opportunities available in the UK commercial property market, highlighting key areas for growth and assessing future prospects.

The summit brings together global investors, occupiers, lenders and developers discussing current trends shaping the industry.

Themes to be discussed include:

• What impact will the change in government be on real estate?
• How will the market be affected by global economic developments such as falling oil prices, quantitative easing in the eurozone and slower growth in China?
• When can interest rates be expected to rise?
• Will London be able to retain its competitive edge as a global city in the next decade?
• How will the capital’s growth continue to ripple out across the UK to regional cities, and is the infrastructure sufficient to support this?

For more information visit FT Property Summit web-site.

‘The Allure of Europe’ – Capital Views report by Cushman & Wakefield

According to the report European real estate is set to stay firmly in the spotlight for global investors with a resulting two-year window of high activity and attractive relative pricing driven by improved property investment supply, portfolio restructuring, rising prices and the impact of quantitative easing. Europe accounted for 60% of inter-regional investment last year.

Most of the investment is going to London, Paris and Germany followed by Madrid, Barcelona, Milan and Brussels. Spain is now the only country other than UK to draw capital from all global regions.

The full report is available on Cushman & Wakefield web-site you can also watch a Capital Views short video on the key findings.