Anyone finding it hard to rent a room out in lucan

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SNOWBALL

Guest
hi

A friend of mine has a double room ensuite in lucan snd she is finding it hard to rent out.She has had in on daft, the evening herald for 3 weeks and the local spars.She has it price ok €500 per month and no bills.She had a single room last year to rent and got loads of calls and rented it in a week.Any one else suffering the same problem? I cant think of anything else to help her out.
 
Have a look at the rental graph on this:

http://daftwatch.atspace.com/

The rental graph shows how the number of properties for rent has increased!

There is your answer!

The only way to rent anything out when there is so much competition is to reduce the price!
 
Also been doing the rent-a-room gig for the last couple of years. Although not comparible with your scenario (i'm in regional backwater town), now finding it difficult to get tenants - whereas wasnt a problem before.
An excess of completed housing bought off plans by investors which remains empty has spoilt market. Just to compound the matter, many of the tradespeople who had moved to the town have moved on.

Had assumed that prime urban areas would still be ok - but in your case, I see thats not the case. Interested to hear feedback from others as regards their recent experience.
 
A yesr ago she would have floods of calls i have said to her there is a surplus of rooms available.I have said to her to contact the language schools and host a student.Some stay for long term.I have sent some mails away for her to the schools this morning.I saw one this morning paying €170 per week.She knows she will have to do the half board.I think that is a better option than reducing her room to €300 a month.She is only looking for €125 per week and they have a large room with an ensuite and no other bills to pay.
 
SNOWBALL said:
hi

A friend of mine has a double room ensuite in lucan snd she is finding it hard to rent out.She has had in on daft, the evening herald for 3 weeks and the local spars.She has it price ok €500 per month and no bills.She had a single room last year to rent and got loads of calls and rented it in a week.Any one else suffering the same problem? I cant think of anything else to help her out.
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I just rented out 2 double rooms (one ensuite) and priced them at 400 and 440 each. 500 is steep for Lucan. Lower the price!

Double room in Lucan can be got quite easily for the 400-450 mark.
 
Does your € 440 for your ensuite include bills or do they have to share the bills?
 
This is the market at work - supply and demand. If there isn't a market for what she is offering at the price she is offering, then something has to give. Perhaps try the lower price but don't include bills.
 
SNOWBALL said:
Does your € 440 for your ensuite include bills or do they have to share the bills?
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Bills are extra.
Bills should never be included in the rent in my opinion, otherwise they could have the heat on 24*7 and you have to pay for it.
 
ok so your bills are extra i think €500 per month is ok and they wont have any other bill to pay.if you are getting €440 there is only €60 in the difference and bills can work out expensive especially in the winter.Heating and electricity have gone up and then there is the bin tags.So if anyone takes her room that have it all for €500.I have suggested that she reduce it to €480 all inclusive.
 
Why not take the dbl room yourself and offer another room for less money? In fact, if its their house and they have only one ensuite bathroom, as most houses in lucan do, thats the room they should be keeping for own use.
 
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SNOWBALL said:
i think €500 per month is ok and they wont have any other bill to pay.
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It doesn't matter what you think. It matters what people are willing to pay. This is the way the market works. I predict that dropping to 480 won't make a difference. She'll be another few months without a tenant, then she might drop to 460 and be another few months without a tenant. I guess it depends on how much she needs the money.

In my opinion she'd be better off dropping to 440 or 400 now, and leave out the bills. She could be earning money a lot sooner, rather than earning nothing from an empty room.
 
she has an attic conversion with ensuite that is for herself , she got a call from a language school and they will give her a student bed & breakfast for €130 per week.She can go full board for €180.I have said to her in this current climate i would get the student.She is not struggling she has a very low mortgage about €59,000 euro but the money is handy for savings for her.
 
shnaek said:
It doesn't matter what you think. It matters what people are willing to pay. This is the way the market works. I predict that dropping to 480 won't make a difference. She'll be another few months without a tenant, then she might drop to 460 and be another few months without a tenant. I guess it depends on how much she needs the money.

In my opinion she'd be better off dropping to 440 or 400 now, and leave out the bills. She could be earning money a lot sooner, rather than earning nothing from an empty room.
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Fully agree. Nearly all house shares are based on paying an amount for the room and then sharing the bills. And some people searching for "rooms in lucan for less than 450" would not even see the ad from 500 even though the 500 is broken out into 440 for the room and 60 or so for the bills.

Just make it simple, 440 or whatever for the room, bills extra.
 
SNOWBALL said:
ok so your bills are extra i think €500 per month is ok and they wont have any other bill to pay.if you are getting €440 there is only €60 in the difference and bills can work out expensive especially in the winter.Heating and electricity have gone up and then there is the bin tags.So if anyone takes her room that have it all for €500.I have suggested that she reduce it to €480 all inclusive.
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I have to agree with shnaek. You should not include bills in rent. As a rentor I would not go for this as I would have no control over what I pay. If I want to sit in the dark and cold in winter to say money it should be up to me to do it. Tenants wont want to pay for something they might not use. You mention the Winter.....what about the Summer and Autumn when lights or heat are rarely on? You need to give the tenant the choice, pay what you use for. To be honest, im sure there are plenty of tenants who would have the heat would be on 24/7 to ensure they werent cold, sure why not as they're not paying for use!! Not saying this is a nice tenant but this does happen....so be careful on the bills front, it could end up costing you more than dropping the rent....
 
SNOWBALL said:
she has an attic conversion with ensuite that is for herself , she got a call from a language school and they will give her a student bed & breakfast for €130 per week.She can go full board for €180.I have said to her in this current climate i would get the student.She is not struggling she has a very low mortgage about €59,000 euro but the money is handy for savings for her.
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Are you aware of what the tax situation is with regards to this? This may not fall under the Rent-a-room scheme which I presume she currently rents under.
 
Howtizer

I posted her because i wanted to see if anyone else is suffering the same problem as my friend.I dont want a lecture on if she is obeying the tax system.€125 a week she is ok for the rent a room scheme.Please dont post if you have nothing that is relevant to my post

Thank You
 
SNOWBALL said:
Howtizer

I posted her because i wanted to see if anyone else is suffering the same problem as my friend.I dont want a lecture on if she is obeying the tax system.€125 a week she is ok for the rent a room scheme.Please dont post if you have nothing that is relevant to my post

Thank You
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Howitzer has raised a relevant point that anyone renting under the rent-a-room scheme needs to consider and I do not think his post merited this sort of reply.

BTW, if your friend is living in an attic conversion are they not renting out a double & a single which would put them near the limit?
 
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