Property Investor

The number of families seeking to rent has risen but shoddy conditions don’t seem to have changed much since the days when James…

The number of families seeking to rent has risen but shoddy conditions don't seem to have changed much since the days when James Joyce's family hunted for homes, writes ALANNA GALLAGHER

JAMES JOYCE was born at 41 Brighton Square in Rathgar, a respectable address, but it wasn’t to be home for very long. Not long after his sister Margaret was born, the family made the first of what became numerous relocations – living in 14 different homes from 1882 to 1904 as their fortunes declined. The story is something many of us can understand, in these hard times.

It’s almost 130 years since Joyce’s birth and renting in the short to medium term has become the smartest game in town. I’ve been house hunting for a rental family home and had my eyes opened. Despite what seems like a glut of property, it’s hard to find a decent home to rent and there are plenty of rentals out there that look as if they haven’t changed one jot since the Joyce family was househunting. Why is there such a dearth of decent lets? Simple economics – demand has outstripped supply. The rise of the renter means that there is simply not enough available stock. Niall Clarke of Lowe and Associates has tenants looking to move but can’t find what they’re looking for – some have even have given notice on one place only to change their minds once they see what’s out there. Families like my own represent a growing demographic. And spoiled by living in our own homes we demand clean, well-considered accommodation, which is tricky to find. Some agents didn’t even have the good grace to blush when they showed their grubby lets.

Home hunting requires tenacity. To find what you’re looking for you really need to view all and enlist help as most of the viewings take place at the same time. When you find what you’re looking for don’t dither – carry cash or a cheque book with you and volunteer a booking deposit there and then.

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And try to stay put. That way you have bargaining power. Three years ago Annabel O’Keefe and her husband Andrew decided to sell and start renting. They started out paying €1,400 a month for their three-bed family home but now pay €1,000 for the same space because owners want renters that pay every month. They need to pay their bank managers.

Most tenants also want security of tenure and are looking for longer-term leases. Like me they want to put their kids in local schools and not have to worry about home hunting again in 12 months. Owen Reilly of Owen Reilly Property cites the rise of the three-year lease and an undertaking that the property won’t be sold in that time.

For landlords, especially the new class of former owner-occupier, a good long-term tenant is the Holy Grail and means they can emigrate or downsize with one less thing to worry about. Historically, few landlords were amenable to short-term leases but requesting a six-month lease opt-out is becoming the norm as job security remains uncertain, according to Eileen Sheehy, managing director of Sherry FitzGerald Lettings.

We tenants are no longer willing to live with shoddy furniture. We want our own things. Thanks to the stagnant market there has been a rise in unfurnished homes. Many failed to sell and their owners have moved out, taking their furnishings with them, which is exactly what the 30 and 40-something renter wants. And these new landlords should be delighted. It saves them about €5,000.

With Bord Gais’ announcement that electricity prices are going to rise, bills play a role the renter’s decision making. House hunting in the summer gives you no sense of the property’s ability to retain heat. Look out for damp spots, check the condition of the widows and ask about insulation.

In the times that we live in every tenant should at least be able to ask if the rent is negotiable. For this writer, in all but two cases there was €100-€150 room to manoeuvre.

So which type of accommodation now represents the best value and why? Rents have dropped and one-bedroom apartments are underperforming, says Niall Clarke.

Despite rent reductions and the advent of the Private Residential Tenancies Board, landlords still seem to hold the same power they had in Joyce’s day. But in some instances you have to feel sorry for them. One property I viewed was in dog-rough condition but was freshly painted and carpeted six months ago. Thanks to its roughshod treatment it needs complete revitalising before it can rent again.

And pity the poor landlord whohad to deal with Joyce’s father, John Joyce, who was often evicted for non-payment. One of his schemes, says James Quinn, a tour guide at the James Joyce Centre, was to threaten to cause trouble. To get him out of the house the landlord would give him a good reference – passing the buck onto another unsuspecting individual.