With the new year almost upon us, our rental experts in Henry Wiltshire have been asked the question: “should we continue to rent or is now a good time to buy in Citywest?” Our Citywest letting agents have good news for landlord and tenants in Dublin.

Renting property in Dublin

The rental market has been powering along for the last number of years. We have seen huge rental income growth across the whole country. Dublin rents are now at an all time high.

A tenant in a good rental property paying reasonable rent is the ideal.

Rents in the capital have grown by 3.9% since this time last year, and the average rent is now €2044 in Dublin. Dublin is in one of the country’s Rent Pressure Zones alongside other cities like Cork and Limerick. The issue is one of supply and demand. There simply aren’t enough properties coming onto the rental market.

Our team of agents are always seeking new landlords to supply the demand on our books for rental accommodation.

Good news for landlords and tenants

The good news for tenants in Dublin is that rent increases are capped at 4% annually. A tenant in a good rental property paying reasonable rent is the ideal. If you are in residence over six months you are now in a Part 4 Tenancy which gives you extra security.

The advantages of being able to stay in the property for more than a year are clear. Less disruption, alongside the unlikelihood of a huge upheaval to a new property and the higher rent that this would bring. This gives you time to save a deposit to buy a property in the longer term. With no upkeep or maintenance bills to worry about it could be a good solution.

It is also great news for your landlord. Landlords like reliable tenants in their properties. The chances are, if the tenancy is going well, it will be a mutually beneficial arrangement which will provide both parties with a successful outcome. This is the essence of renting after all.

Are you a landlord with property to let in west Dublin?

At Henry Wiltshire we have lots of vetted tenants on our books. We offer a superb management service also. Should you have a property you wish to let in Dublin, give our team a call today. We have an agent waiting to hear from you.

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