Thats a fair jump on your part. Most homes are well out of negative equity.
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You’d be as well off leaving a property idle and keeping it as an inflation hedge. 52% of the rental income goes back to the government and then you have to deal with tenants.
We’ll end up like London where you’ve thousands of apartments owned by investors left sitting empty as it’s seen a store of value rather than an income producing asset.
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I’ve heard that’s becoming more and more common.
I’m going to sell my place I think. I was hoping not to have to terminate the lease but looks like I’ll have to now and give them an extra bit of notice
Only relatively recently. And I don’t think it’s a jump. The statement above refers to houses in arrears of over ten years. It’s highly misleading unless you include the context that for most of that ten year period the banks would have balked at any suggestion they take the house back.
I’m sure SF will introduce measures to prevent this. Like putting such recalcitrant owners in the stocks or something.
They’re a dangerous shower of bastards.
I doubt SF will be able to force this through. I’m not certain I agree in any case that if a person rents out a house for over six months, the owner has no get out clause.
I’d be more in favour of a system like the football transfer market of fixed term contracts, with rates etc based upon length of contract, and bonuses for good tenants, with a clear fast defined scheme for legally binding decision making should either party wilfully breech.
I think the deposit scheme works the wrong way. There should be a bonus for a good tenant rather than an up front penalty, or certainly there should be a bit of both.
The lefties believe that there’s no such thing as a bad tenant.
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I’d be in favour of a full repair, reinstatement and insurance lease for residential with fixed term contracts of whatever you agree and a right to renew with rent reviews. Like commercial sector.
You can rent a house or apartment. You have it for five years or ten years or whatever. You pay the rent and all outgoings and you fix stuff that breaks or replace stuff. Landlord just collects the rent. Tenant can stay there as long as they pay the rent.
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is it possible to do long term leases of 10 years or so? give every one security?
Would you rent it out on Hap?
I’ve it rented out under RAS. I’d do HAP.
The problem is you can’t really just rent it and forget about it (some councils offer long term leases or used to) so you are dealing with repairs and maintenance etc and tenants have no motivation to keep place and invest in it as they have no security of tenure so rental stock becomes sub standard
A 10 year lease won’t really work at moment unless to council
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Would surely be worth 750 euro a month (say if you were getting 1500 pm rent) to just deal with tenants??
It is til it isn’t. Repairs, maintenance, time, emergencies, painting, refurbing eventually make you think you’d be better off out of it. One bad tenant could cost you a few years of profit.
Short term rental seem to be where money is at and people have gone to that.
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All things being equal surely a monthly rental payment should be less than the mortgage payment for the equivalent unit? The difference being the renter gets nothing at the end and the owner gets the asset. I’d say rents are running at at least double the mortgage payment would be for the equivalent unit, which seems bizarre.
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It’s crinimal.
Agree, but I don’t agree with an automatic right to renew or to stay once your agreed period is up. You could also allow a tenant to sign a five year contract, but with a break clause for tenant only after say two years. Once the five years is up, the landlord should be free to do what they wish with a clean slate.
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You’re just talking about profit from rent. Have you factored in the capital gain on the house itself? It must be substantial?
Which should be taxed at whatever the maximum PAYE rate is at the time of sale. No ifs, no buts, no maybes, no loopholes.
Which is fair. The big issue for people with one investment/rental property is that there is no viable alternative to invest money passively in Ireland.