Information sources please - Republic of Ireland

If you are planning to buy a rental home, or you're thinking about what to do with one you have just acquired, this is the place for any questions about starting out in the rentals business.

Does your holiday let income from a single property (1 bed) generate more than 15k (GBP) net profit a year?

Yes
0
No votes
No
2
100%
 
Total votes: 2

Altonator
Posts: 2
Joined: Sat Jan 10, 2015 7:07 pm

Information sources please - Republic of Ireland

Post by Altonator »

Hi all :)

I'm hoping for some quality input from you very knowledgeable forum members!!

So far, after searching for some months now, I have found very, very little in the way of organisations / websites / books etc. that provide any depth of knowledge regarding starting a holiday let, relating specifically to the Republic of Ireland.

I'm hoping to purchase a property in the Republic of Ireland - somewhere in the region of Cork and Kerry within the next year or sooner, but no rush.

I live in Bath, UK and I leave for a two week "research" trip to Ireland this weekend and plan to visit these areas whilst I'm there, as well as a few others (never been to Ireland before). If you want to know more about my reasoning etc., I'm happy to go into more detail, but thought I'd keep the waffle to a minimum initially!).

I'm also visiting a family friend who owns a guesthouse in Co. Galway and will ask her a few questions too.

Plus, I'm looking into the possibility of using any land that comes with the property for a small campsite. Maybe half a dozen pitches for tents or small motorhomes. Nothing fancy.

I come from a catering background and have been self employed previously, so understand the mindset required for these types of ventures, but how on earth does a person find any hard facts / regulations about making this kind of stuff happen? There seem to be no books online - I've tried Amazon and Irish online bookshops (instead of .co.uk, i've used .ie). Of course, there are lots of books / sites that feature UK and Northern Ireland details, but sourcing some decent, concise info for R.O.I. is proving to be less than fruitful. Am I assuming correctly that the rules for R.O.I. are different from those of Northern Ireland / UK? Or do the rules and regulations follow some kind of European framework and I should be looking along those lines?
Is it a case of having to arrange a meeting with a Kerry / Cork council member (if that's the right term) and asking questions face-to-face instead of endlessly trawling the internet?

Any recommendations or help would be massively appreciated.

Thanks in advance,

Dave.
Not all those who wander are lost.
Altonator
Posts: 2
Joined: Sat Jan 10, 2015 7:07 pm

Post by Altonator »

Thanks for posting Nemo, very useful.

Yes, fingers crossed for some input from owners of Irish property.
Not all those who wander are lost.
booboo
Posts: 715
Joined: Sat Jan 21, 2012 7:52 pm
Location: Haloze Slovenia

Post by booboo »

i answered on behalf of my sister. There was a time before the recession she would have but not now.

Have you thought of going through the listing sites, looking at their calendar and rates, and then do the maths.
e-richard
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Joined: Sun Oct 17, 2004 11:33 am
Location: Algarve, Portugal
Contact:

Post by e-richard »

Do you really mean "Net profit" after all expenses ?
Or do you mean gross revenue - i.e. total income?
** Richard
PIMS: Holiday Rental Management system
They say we learn from our mistakes. That makes me a genius !
lester1meg
Posts: 220
Joined: Fri Jun 15, 2012 4:00 pm
Location: Dingle
Contact:

Post by lester1meg »

We have property in Kerry. Things to be aware of a) It's a short season b) Our best market is Americans but they want flexible breaks not Saturday to Saturday ones c) Bord Failte is very poor at promoting the properties on its books but charges a high price for listing d) People come to Ireland for the craic so worth checking our walking distance to nearest pub
Feel free to send me a personal message if I can be of more help.
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