Taking care of your property in Ireland while abroad
With the festive season now surely fading into the background, droves of Irish people who returned to Ireland for Christmas have made their way back abroad. For many of these emigrant’s they have left more than their friends and family behind.
It’s not unusual for Irish landlords to live abroad, however over the past number of years there has certainly been a surge in this trend. During the recession, a new breed of landlord emerged. As we know only too well, scores of Irish people packed up their belongings and left for greener pastures in the hope of a better life. These included all segments of the population including many with young families in tow. Many of these people were property owners and rather than cut off all ties and sell up their properties they opted to let them instead. In this way, at least if things didn’t work out or if any opportunities arose at home they would at least have a house to come home to.
We have all heard talk of the ‘accidental landlord’, well I suppose these Irish emigrants would fall into this category. After all they never planned for the recession and all that was to come with it and I’m sure when they signed on the dotted line of their mortgage application – they never dreamt of being a landlord – never mind an Irish landlord abroad!
Most landlords of investment properties will have little emotional attachment to their properties. However, for many Irish landlords abroad they haven’t just left a property behind, they have left their home – a home that they worked very hard to secure and are probably still working to pay for it. Their home may house many treasured memories and although all landlords will hope that a certain standard of maintenance is upheld, as you can only imagine, this is something they will feel particularly strong about. Most landlords will hope that if and when they might return to Ireland or indeed decide to sell that their home will be in a good standard of condition.
All landlords want peace of mind but especially when they are abroad and most will find that the only way to achieve this is to engage with an Irish property management company. You of course have to pay the appropriate fee’s and hope that they act in your vested interest, taking good care of your property while you are abroad. For some information regarding tax implications while renting a property abroad, it might be worth reading this blog http://www.mccarthymcsweeney.ie/news/15/60/Implications-for-Irish-Emigrants-Renting-Property-While-Abroad/d,news_detail.html
For Irish landlords abroad, when the time comes and they decide to return to Ireland or indeed to sell the property this can really open up a new can of worms. They will at least hope that the home they left behind will closely resemble that of the home they are returning to and likewise if they are selling, will hope that it won’t take too much to achieve that ‘wow’ factor. The last thing any Irish landlord wants is a NASTY SHOCK when they see their property. For some, it may be feasible to return home for a short period to perhaps try and organise everything but for so many others this may not be an option.
Having an Irish company that can take complete responsibility for getting their property in tip top shape would be ideal! They could survey the property inside and out reporting back with photographs and video footage – offering expert advice. They could oversee any alterations, repairs or improvements based on instructions, keeping the property owner fully informed. Wouldn’t it be great if they could act independently to your letting or estate agent? Sounds too good to be true, well it’s not!
Placelift is a fully Irish owned company www.placelift.ie who provide this very service. Over the past number of years, we have acted as keyholder for many properties belonging to Irish landlords abroad. We also look after deceased estate properties for Irish executors abroad, helping reduce some of the stress these scenarios can typically present.
If YOU are an Irish landlord abroad, you might like to get in touch for a chat on 00 353 1 2548070 or if YOU know of an Irish landlord abroad perhaps you might wish to share our blog with them!