Renting can be difficult, so here are some tips to help you.
Are you thinking renting out your property via Airbnb in Dublin?
I am an experienced letting agent & property manager in Dublin for last 15 years. Over the previous 5 years Dublin like many cities saw an exponential growth in short term rentals in Dublin, these rentals were coined Airbnb’s. Over the last 24 months the change in council and governments perception and tolerance for short term rentals changed also. Local and national laws were introduced for short term letting.
Are you unsure about the legalities around short term renting in Dublin?
You can reach out to one of our licensed agents for advice in what is legally allowed for short term rentals in Dublin and what is not. With many changes brought into play over the last 12 months many property owners have been operating illegally across the capital and beyond. There are however ways to legally let your property short term.
Full time short term rentals and why?
Many of the previous full-time short-term rental operators were short term renting their investment property for a higher annual return then a standard long-term rental. Typically speaking if you were looking at your bottom line after all costs and tax taken into effect properties were returning a higher return by approx. 20%. This % was a lot higher in previous years but with increased competition year on year this was the average return in 2019.
Any other reasons apart from profit? Yes there are several reasons to rent your property short term in Dublin.
Examples would be – Renting your property short term while your property is listed for sale.
Airbnb and COVID-19 in Dublin.
Since March of 2020 the level of bookings dropped dramatically and only saw a incline in July and August 2020 before it once again took a further dip with seasonality and COVID-19 restrictions tightening again.
What is the future for Airbnb or Short-Term Rentals in Dublin?
It is difficult to forecast much further than the Christmas period in Dublin now. The short-term rental market and corporate space is traditionally busy during December and into January.
This year we will see a lift in demand for short term rentals in Dublin with restrictions easing, family returning home for the holiday period and Irish Nationals returning and having to quarantine rather than stay in the family home.
With fresh news on the horizon of a Covid 19 vaccine and a shorter supply of short term rentals in Dublin & Airbnb style properties on the market it may become busier for the shorter supply of units on the market.
It is still impossible to see changes into 2021.
Quick Guide to Legally renting Short term Rentals in Dublin.
Short term letting is defined as the letting of a house or apartment, or part of a house or apartment, for any period not exceeding 14 days. Minimum of 14 nights unless you have planning permission.
Home sharing (the letting of a room or rooms in a person’s principal private residence) will continue to be permissible on an unrestricted basis and be exempted from the new planning requirements.
Homesharers will be allowed to sub-let their entire principle private residence (house or apartment) on a short-term basis for a cumulative period of 90 days where they are temporarily absent from their home.
Where the 90 day threshold is exceeded, change of use planning permission will be required.
If your property is located within a private development, it may be worthwhile looking at your house rules to see any rules about short term rentals (even 14nights+).
Property Manager for short term rental Dublin
There are several operators in the short term property management space in Dublin. Many of these operators however are .com companies offering a service without local knowledge, presence and legal expertise. Swipe Property can certainly help advise you on your property and what is achievable.
Free short-term rental appraisal and valuation Dublin
Reach out to myself or one of my colleagues for a in depth breakdown on your property.