Finding the impossible - Somewhere to rent.

Today is one of the busiest on our calendar being the day the Leaving Certificate results get published. In an hours time our phones will ring off the hook with parents seeking a home for their children who they anticipate coming to College or University somewhere in the South Dublin region. Being moments from University College Dublin, UCD Michael Smurfit Graduate Business School, Royal College of Surgeons Sandyford Campus and with Bus & Luas routes to the City Centre only moments away means we are deep in the catchment area for so many students regardless of their age or chosen educational institution.

At this time of year we normally find ourselves directing potential tenants to their desired location, whether that be a home through our own lettings department, DNG Gillespie Lowe or in some cases through many of our competitors who I am sure return the favour when the tables are turned. This year however things are different. While demand levels are probably not much different to previous years (save for the fact that there is more panic in the sector), the supply of suitable homes is down and I would assign this to a number of reasons. Firstly those currently renting are reluctant to give up their current residence, therefore keeping that from the market. The downturn in the market witnessed since 2007 has lead to many Buy-To-Let's being left vacant or sold to owner occupiers by Receivers, the Legislation changes to Pre '63 homes pushing those who own them, many of which are in their twilight years, reluctant to invest further capital into making them compliant, instead selling them, again to single dwelling units, not to mention many vacant homes due to delays in issuing Probate or held until the owner passes to avail of the Nursing Home Support Scheme (Fair Deal), the latter two being areas I feel should be addressed to free up the sector.

So what can people do to find a home for themselves or most usually their sons or daughters? Firstly I cannot emphasise enough to use a Licenced Property Service Provider (PSP). Mark my words it will only be a couple of weeks before we hear Joe Duffy's Liveline light up with tenants who have been duped by rogue Landlords or scam artists. By using a PSP you have the comfort of knowing you are dealing with a reputable agency and that your monies paid over are secure and guaranteed by a Government Body. Of course the old saying is true, if it is too good to be true............walk away!

Of course the question is how to find somewhere given the stock levels are so low. Again the old fashion ways of calling to Agents offices can bear fruit. Be prepared. Have references ready and manage expectations. While I would agree standards are important it is unlikely you will be able to achieve Four Seasons quality in a student rented house. Various websites to trawl include Daft.ie, MyHome.ie, Let.ie and many more. The early bird catches the worm of course so be vigilant and respond to the advert as quickly as possible. Viewing numbers will be up for the coming month or 6 weeks as we are peak season so expect queues, something which has always been the case at this time of year. Of course, the College or University you will be attending will also be able to provide you with a list of approved Landlords through their Students Union. Take our neighbours here in UCD for instance. They have a portion of their website dedicated totally to finding student accommodation at www.ucdaccommodationpad.ie and it is a very useful tool for finding a home for the coming academic year, especially in today's times. Most Third Level Institutions have this service available. In some of the local shops close to any Third Level Institution there is often a Notice Board advertising local apartments or digs which may help too. You could also place an advertisement here requesting accommodation. With many older people living in these areas someone seeing it may be delighted with the company of a young person coming and going from their home. Some Landlords, particularly those outside Dublin still like to use the Local Paper and over the next few weeks would be the time to pick up a copy. I often advise clients to buy back copies from this time last year or the year before. Spending €10 or €20 here could get you ahead of the curve.

Again, when you find that home be sure you are parting with your money in a responsible manner. While your money is safe with a PSP you don't have that reassurance with all Private Landlords so be certain you are not part of a scam.

Finally, today's results for many are the start and not the end. Enjoy the moment, whatever the outcome, life has interesting ways in directing us on the paths to our future. It always turns out ok in the end. Best of luck with your search and years ahead in Third Level.