Need info re. renting out a parking space

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Brooklyn

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I'm in the process of buying an apartment (central Dublin) that includes a parking space. I don't drive so I will be renting it out. I would prefer to use a letting agent because I haven't done anything like this before and I don't want the hassle. Can anyone tell me what sort of terms I should expect from the letting agent (eg. what is a reasonable fee for them to charge me)? Also if anyone wants to recommend an agent that would be great.
 
Why don't you just post on Daft? I don't think it is worth getting a letting agent for a parking space. Figure out the rate in your area from daft, ask for one month's deposit plus one month's rent in advance, and there you go.
I rent a parking space, and I personnally feel that dealing with an estate agent for the money involved is a pain in the ass.
just make sure that when you post on daft, you get the location right on the map. You wouldn't believe how many people misprepresent the location, maddening for a prospective tenant.
 
Thanks. I did think about that but I'm afraid I'll wind up with some chancer and I won't know what to do! Did you sign any kind of contract, or just a verbal agreement backed up with the cash?
 
Verbal agreement, one months notice on either side. At the end of the day, you can just get a direct debit form and get them to sign it on initiation of the rental term. If they need an access code or zapper, only give this to them when they proivide the months rent and deposit up front.
Generally speaking, I think you are unlikely to get a chancer renting a parking space - what's in it for them? It's not like an apartment they can trash and evacuate....
 
I rent a parking space with nothing formal in place, no deposit no receipts, works fine so far. I'm the rentee.
 
Anything without a written agreement or receipts will work fine until something goes wrong!
 
I rent a space in town aswell and no problems and got it off daft. Met guy who owns space, gave him deposit, he handed me the zapper and I stick cash in an envelope every month and put it into his postbox and email him to tell him it's there and he mails me back to let me know he got it!!. No problems, people genuinely want a car space so no messers or egets will be doing you or whatever the expression is!!.
 
CCOVICH said:
Anything without a written agreement or receipts will work fine until something goes wrong!
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Realistically what can go wrong with a parking space? They leave a JCB parked in it for days??
Renting a parking space just does not have remotely the same risks as renting a house or apartment. Unless they bring in a pneumatic drill they can hardly damage the property! Once you get your rent in advance and have one month's deposit, cannot see how something can go wrong.
Please let me know if there is something profound I am missing here........
 
Realistically what can go wrong with a parking space? They leave a JCB parked in it for days??
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~Exactly. Or a burned out car. Or they damage the car in the next car parking space. And they leave the wreck there and take off and don't pay. Etc etc.
 
Or if the space is close to town, they use their 'clicker' to allow workmates and friends to park, really annoying other tenants. Sign a contract!
 
You need to get a deposit for the buzzer/fob as the management company can charge alot (€100+) if it's lost & needs to be replaced. I'd check this first. A large deposit might scare off some customers, but if you explain what it's for should keep the genuine ones happy.
 
Oh dear. I'm starting to think I might have had the right idea with the letting agent to begin with :(
 
Brooklyn said:
Oh dear. I'm starting to think I might have had the right idea with the letting agent to begin with :(
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Not at all. Just put a contract in place and take a deposit to safeguard your interests. Most of the above scenarios never happen. As another poster said, those who need a parking space rarely mess you around. Good Luck.
 
liteweight said:
Just put a contract in place
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See, I would have no idea how to do this. Is there some sort of standard Parking Space Rental contract I can use as a template? I think I could draw up the payment terms myself, but as far as what happens if they lose the buzzer or damage an adjacent car or any of the other nightmare scenarios outlined above, I wouldn't have a clue what to put in the contract.

Sorry if I sound like a complete eejit, but on matters like this, I am.
 
Can't point you in the right direction I'm afraid. My car parking space comes with a property attached! Our solicitor looked after it for us. Maybe that's where you should spend some money rather than on a letting agent. A solicitor will be a one off payment and you can use the contract for ever more. Otherwise you could try doing a search on the internet to see if there are any standard contracts out there. Perhaps someone else here will have a better idea.
 
maybe it's foolish not to worry about the worst case senario but living on the edge has its benefits!
 
Before you start sticking the availability of the parking space on DAFT, why not do up a couple of flyers and drop them into local office buildings. You will most likely get a phone call within 24 hours.
 
You have an interest in property and you want risk free income from it. It is in the city centre where much illicit substances are distributed. Do you not see something coming?
How happy will fellow tenants be to have third parties breaching their security?
Wake up and smell the coffee.

Know your tenant and get their reg early on if you are going to proceed.
 
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