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Advise for Students seeking accommodation

March 10, 2023 #

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 1st 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.

Landlord Expenses

June 24, 2015 #

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 “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.

Property Market in Galway

May 11, 2015 #

New Rental Report is out today.

There is no surprise as to results of the report: permanent shortage of supply in rental property market.

Commenting on the report, Ronan Lyons, economist at TCD and author of the Daft Report, said: “Over the last ten years, the number of households renting has grown rapidly but a renter today finds themselves with less choice on the market than at any other time since 2006. This extreme shortage of supply is at the heart of not only rising rents and house prices but also issues around working homeless, student accommodation shortages and a lack of options for those in mortgage arrears. Solving the lack of housing will require initiatives to moderate the high cost of building homes in this country and completely reforming the way social housing is funded.”

Rents nationally are 8.2% higher on average than last year. In Galway City rents increased by 7.4% and in Galway County by 10.7%.

According to the same report there were fewer properties for rent nationwide on May 1 than at any point since 2006. Rental Report, Q1, 2015 – An infographic by the team at Rental Report

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