Caden Grimes Estates

Residential & Commercial Property Sales & Lettings | Lettings Management | Accommodation Outsourcing | Corporate Relocation

Residential Tenancies Board To Introduce Annual Registrations

By

The RTB (PRTB) announced last year that they are planning to commence annual registrations. They are doing this as ” The introduction of annual registration is important to assist the RTB in monitoring and regulating the sector”.
In fact landlords are obliged to notify any “significant change” to the tenancy (eg rent increase, change of lead tenant etc) to the Board, but that is impossible to police, so it would seem that they are placing the onus on the landlord or Agent to keep their database current.
It is expected that this new requirement will come into force this year.
The RTB has been consistently upgrading its regulations to professionalise the letting market over the last few years and we can expect that to continue.
For further information call Gerry 01 9014480 or mail info@CGestates.ie
Caden Grimes Estates is a licenced (PSRA # 001883) Real Estate Agent based in Dublin, Ireland.

Damp In Your Home?

By

What Causes It & How To Prevent It

Damp walls in themselves are bad– that cold, constant airborne moisture is bad enough by itself, causing coughs and infections.
But it doesn’t come alone – it is a breeding ground for bacteria – usually mould, a fungus often in the form of ‘black mould’ which loves to nest in timber, paper, plaster board. You’ll get that musty/mildew smell, sometimes the cause is obvious, sometimes not.
Mildew BTW is just another mould, a little easier to clean, but still a fungus.

The fungus releases toxins which attack lungs, causing coughing and wheezing – which can turn to more severe flu-like symptoms – especially in those prone to respiratory tract infections.

Leaks: can be very easy or very difficult to track down.

A leaking cistern or a badly fitted shower curtain/door will be obvious.
But if the seal around the bath or shower tray is old you won’t see the effect of it (though you’ll probably smell it). A leaking pipe behind the bath or under the sink can be hard to spot too.
One giveaway is your pump (if you have a pumped system) switching on & off when you’re not using water. That is evidence of either a dripping tap/toilet or a hidden leak.
It won’t go away, so don’t ignore it.

Condensation: is, in my experience, the biggest culprit.

Drying clothes in the bedroom or on a rad, fish tanks breathing and (most often) leaving the ensuite door open after showering. If you do that the warm moisture heads straight across the room to the window where it forms condensation. That in turns rolls down the glass and forms a nice warm breeding ground for fungus.

There is an extractor fan in the bathroom (and the kitchen) for a reason. Leave it on and clean it every couple of months, even with your vacuum cleaner. Close the bathroom door – that makes it easier for the fan to do its work. If you must open the door, you must open a window nearby.
And never block vents. They allow tired (oxygen-less) air to go out and fresh air to come in.

Cabinets: If you have a moisture build up and/or mould in presses or wardrobes, either ventilate them or use moisture traps – they’re available in hardware stores and are cheap & cheerful.

Exterior: Heat wants to escape, that’s a fact. You may have heard of thermal bridging, typically it happens where an inside wall is in direct contact with an exterior surface – think of your inside wall where it meets the window or floor; or where the ceiling meets the roof. All of that lovely expensive heat is just looking for the easiest way out. You can get mould build-up there too – that’s where the moisture from the air settles.
Of course, an exterior leak can also be caused by missing roof tiles, defective guttering or the ‘pointing’ between bricks wearing away. In older properties uninsulated north facing walls can absorb and transmit moisture from out to in.

Treatment: You can buy ready made mould killing solutions or you can mix 3-parts warm water to 1-part bleach (wear gloves). Rub it in well and leave for an hour at least before you start cleaning.

If the mould is well established you need a professional, experienced, cleaner. It can be more difficult to get rid of the black staining that’s left behind than it was to kill off the mould. How To…. 

Repainting: Depending on whether you’ve killed the mould and how bad the staining was, you may want to use a strong sealant coat over the area, or you might want to use an anti mould additive in the paint. Ask the guy in the shop.
And use a soft sheen or a satin emulsion – if the problem does recur, it makes cleaning it off a lot easier

BTW – you may sometimes see peeling ceilings in bathrooms with no sign of mould. New bathroom ceilings should have been sealed to stop the steam getting in behind. But of course that doesn’t always happen. If you see this, scrape the ceiling really well, get a proper (I like PVA but again ask the guy) sealant and apply that before painting.                                                         

Caden Grimes Estates Is A PSRA (001883) Licensed Estate Agent, Based In Dublin
Info@CGestates.ie

Affordable Homes Scheme – Affordable For Who?

By

€400,000 For A 3-bed Apartment In O’Devanney Gardens

Fiona Reddan of The Irish Times has the story here

Caden Grimes Estates Is A PSRA Licenced Dublin Estate Agent
Licence Nr 001883
Info@CGestates.ie

Household Buyers Face Competition in Dublin Property Market

By

Sales - Residential

Slight Fall In Dublin House Prices – A Sign Of Things To Come Or A Brexit Blip?

The Central Statistics Office say that house prices in Dublin have fallen by 0.2% up to July this year.
Some 6,425 (new home) properties were bought, a drop of 6% on 2018. Of those, 4,434 were bought by householders and 1991 by ‘cuckoo funds’, local authorities and Approved Housing Bodies – that’s 1 in six of all new homes.
Cuckoo funds are so called because they snap up large blocks of new housing, squeezing out the household buyer. Typically they buy to rent in sought after areas and will charge top market rent. Local Authorities and AHB’s buy for social housing.

 According to Dermot O’Leary of Goodbody Stockbrokers ‘household’ buyers are down so far in 2019 by 6% while ‘non-household’ purchases were up by a huge 60%.

Caden Grimes Estates Is A Dublin Based Estate Agent, Sales And Lettings.
PSRA Licence Number 001883

The Banking and Payments Federation warned that people on low and middle incomes are effectively out of the housing market. Most people now need over €80,000 to be approved for a mortgage.
In a tight mortgage market, banks are risk averse and favour those in Government employment and the professions.

The Central Bank report a 75% rise in repossessions, up from 127 to 221 in the April to June quarter.

The Minister for Housing Eoghan Murphy insists that the housing crisis will be solved by the May 2020 General Election.

Sources:
Charlie Weston / Irish Independent; Dermot O’Leary / Goodbody Stockbrokers; CSO

Mortgage Switch Savings Could Reach €3,400 A Year

By

Inertia-
Thousands of homeowners are needlessly overpaying their banks because of their failure to switch mortgage lender.

Consumers ‘becoming more aware’: Mortgage switching expert Martina Hennessy, managing director of Doddl.ie. Charlie Weston  Irish Times

Thousands of homeowners are needlessly overpaying their banks because of their failure to switch mortgage lender. The cost to the average mortgage holder has now reached €3,400 a year – a rise of almost €900 since a year ago.

The Irish Independent Mortgage Switcher Index calculated the potential savings, based on the spread between the highest and lowest interest rate on the market. It found that the gap between the current available rates has grown to 2.2pc.
Over a month, this amounts to a saving of €281 for the average home mortgage, according to the index produced by switching platform Doddl.ie.

There is a golden opportunity to switch as homeowners have risen out of negative equity, so common during the recession, while Central Bank rules have made switching easier. Some banks are even offering cash lump sums to switchers.

Switching rates has increased lately but many homeowners are still reluctant to move their mortgage to a different lender.
Some are unaware they can switch, with others fearful something will go wrong.
But experts said the reluctance to switch was costing homeowners dearly.

The Mortgage Switcher Index highlights the huge difference between the lowest and highest interest rates on the market.
Variable rates as high as 4.5pc are being charged to homeowners, but rates as low as 2.3pc are available.
Discounted mortgage rates have been ignored by the experts who compiled the index.
The managing director of Doddl.ie, Martina Hennessy, said a typical homeowner on a 25-year mortgage is paying €1,335 a month.
This same homeowner could cut their monthly repayments to €1,054 by switching. This would give an annual saving of €3,372 a year – which is about the same as the average monthly salary for an Irish worker.
For a family with a larger mortgage of €300,000, annual savings of €4,200 can be made.

Caden Grimes Estates Is A Dublin Based Estate Agent
PSRA Licence Number 001883

The rate of mortgage switching has more than trebled in the past four years, Ms Hennessy said. But she added that thousands more homeowners could benefit from making the move.
She said just 5pc of mortgage loans at the end of 2015 were switched. This had jumped to 14pc at the end of last year.
“Consumers are becoming more aware that switching can save them money, mainly thanks to Central Bank requirements on lenders to make mortgage switching easier,” said Ms Hennessy.
She added that property values have increased. This means loan-to-value ratios have gone down, also making it easier to switch.

Many lenders have tiered rates, with lower interest charged for those with lower loan to values. And many banks provide a lump sum amount to help defray the cost of the switching, such as conveyancing fees. The banks call these switcher packs.
“These switcher packages range from value €1,650 to up to 3pc of the mortgage amount outstanding back in cash. “The easier it becomes to switch, the more people will realise that they are not tied to one financial institution if there are better rates on the market,” Ms Hennessy said.

The launch of the new switching index comes at a time when banks are continuing to cut their mortgage rates. Permanent TSB became the latest to give borrowers a break. It has reduced its fixed rates for new customers and those switching to it.
Ulster Bank this month reduced some of its mortgage rates, ICS Mortgages launched into the residential market, with some of the lowest rates, and KBC last month cut its rates.
It comes as the European Central Bank piled pressure on banks in the eurozone to lend more to homebuyers after it reduced the interest rate it pays banks that deposit money with it.
This is a way to force banks to lend more, instead of depositing money with the ECB.