# Tenants being driven away



## mark71 (1 Jul 2008)

I'm having serious problems with a buy to let property there is one set of neighbours harassing my tenants constantly they have driven away previous tenants and it looks like happening again,the house is also up for sale but no takers because of these people.If my tenants leave i will find it next to impossible to replace them.My two mortgages are with the same financial institution question is if i can't meet the payments on the buy to let house will this have any impact on my family home?We can afford the one but not two.Getting pretty worried now.


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## z103 (1 Jul 2008)

You could always let your neighbours know that if they don't leave you alone, you'll have no choice but sell the house to scum (as they are the only ones interested)


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## mark71 (1 Jul 2008)

I would gladly,if Mugabe needs to get out of Zimbabwa anytime soon and needs a cheap house he 's more than welcome!


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## murphaph (1 Jul 2008)

Presuming your family home has nice neighbours, couldn't you (if really desperate) move your family into the rented house and face down the scummy neighbours yourself and let your family home out? I'm making huge assumptions about size and location here so maybe not an option.


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## rmelly (1 Jul 2008)

Are you satisfied that the tenants aren't the problem e.g. noise, parking etc? Does this neighbour harass the occupants of any other house?



> but no takers because of these people.


 
Are you sure about that? Have prospective buyers or viewers ACTUALLY mentioned the neighbour as a problem? It seems strange that they should know anything about him...



> You could always let your neighbours know that if they don't leave you alone, you'll have no choice but sell the house to scum (as they are the only ones interested)


 
I wouldn't bother making an idle threat that he can't or won't follow through on. Would it not make more sense to find out what the problem is if possible? Plus it sounds like no-one is interested.


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## mark71 (1 Jul 2008)

murphaph said:


> Presuming your family home has nice neighbours, couldn't you (if really desperate) move your family into the rented house and face down the scummy neighbours yourself and let your family home out? I'm making huge assumptions about size and location here so maybe not an option.


 We lived there for near 8 years then had a baby ,moved out for the sanity of the wife. Constant slamming doors ,dogs barking even had the car tyres stabbed .So going back is not going to be a option.


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## mark71 (1 Jul 2008)

uiop said:


> In what way are they being 'unneighbourly' ? Is it a matter for the guards ?


 If i listed everything i'd be here all night but here are some examples made false allegations about parties the guards called to my tenants twice in one night and heard and saw no disturbence,neighbours were n't happy with this and i got a letter from the noise envirioment had to write a full report.Gaurds said they would back us up in court.Next i got a letter claiming a party went on from 2pm saturday till sunday afternoon when i contacted the gaurds about this they said they had no complaints of any party from anybody on the street.Now they are complaining to the council that he is leaving bread out for the birds drawing vermin!!!!They have also called social services out to him.I have told him to go to my solicitor to make a statement to get a court order on them.


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## rmelly (1 Jul 2008)

Very neighbourly of them, I take back my original post.


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## z103 (1 Jul 2008)

...and they call it 'unearned income'.


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## mark71 (1 Jul 2008)

The thing is where would i stand if i just said sod it and said i can't make the payments and chucked the keys back to the bank?


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## ClubMan (1 Jul 2008)

Keep a log of all incidents of alleged anti-social behaviour.
Talk to the _Community Garda_.


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## PM1234 (1 Jul 2008)

mark71 said:


> The thing is where would i stand if i just said sod it and said i can't make the payments and chucked the keys back to the bank?




You would be as well off to sell it at a knockdown price (but enough to pay off the existing mortgage) than do the above which will have big consequences on your credit rating.


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## mark71 (1 Jul 2008)

ClubMan said:


> Keep a log of all incidents of alleged anti-social behaviour.
> Talk to the _Community Garda_.


This is being done ,i'v been to every authority going and thats all i get told to do when all that will come of it is a slap on the wrist for them and me heading for the poverty line.


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## eileen alana (1 Jul 2008)

If you lived there for eight years, you must have some equity built up in the house. It's a shame to have such awful neighbours and no body deserves to be harrassed in their own home.

Would the Council take the house for rental purposes or maybe they might buy it from you? I see they are now buying up lots of private properties to reduce their waiting list for social housing.


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## PM1234 (1 Jul 2008)

Have you approached the Council to see if they would be interested in the property?


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## ClubMan (1 Jul 2008)

mark71 said:


> The thing is where would i stand if i just said sod it and said i can't make the payments and chucked the keys back to the bank?


If you are seriously considering this then post some specific details (e.g. indicative property value, outstanding mortgage, original purchase price etc.) so that people can comment.


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## mark71 (1 Jul 2008)

PM1234 said:


> You would be as well off to sell it at a knockdown price (but enough to pay off the existing mortgage) than do the above which will have big consequences on your credit rating.


 I have it listed at around 30-40k under the market value as is,over a year and a half on the market.That's why i'm seriously considering this route .I'v no plans to leave my present home would i claw back my credit rating paying this mortgage,never late with bills and i clear the credit card every month? A bad credit rating for few years would be a relief to what we have to put up with now.


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## mark71 (1 Jul 2008)

eileen alana said:


> If you lived there for eight years, you must have some equity built up in the house. It's a shame to have such awful neighbours and no body deserves to be harrassed in their own home.
> 
> Would the Council take the house for rental purposes or maybe they might buy it from you? I see they are now buying up lots of private properties to reduce their waiting list for social housing.


 Yes i'v tried the council but they say they are not intrested in houses more than 5years old ,that was last year.I could try again and see what they say.


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## eileen alana (1 Jul 2008)

mark71 said:


> Yes i'v tried the council but they say they are not intrested in houses more than 5years old ,that was last year.I could try again and see what they say.


 
Gosh, that is very strange, I wonder why they have that policy.


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## mark71 (1 Jul 2008)

ClubMan said:


> If you are seriously considering this then post some specific details (e.g. indicative property value, outstanding mortgage, original purchase price etc.) so that people can comment.


 We bought it for £68,000.Then bought a new house just as the market peaked for 315,000euro splitting the mortgage 210,000 on the new place and leaving 160,000 on the old with a interest only mortgage for 3 years.If i got 170 i would be over the moon just to clear the thing.


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## ClubMan (2 Jul 2008)

So you bought it for c. €86K?
When? (Indexation relief on the acquistion price may apply)
When did you rent it out first? (In case stamp duty clawback applies - and may be overdue)
I don't understand what mortgage is outstanding on the rental property.
You really need to crunch the numbers and see what is a viable (e.g. no loss making and ideally profit making after taxes) scenario for disposing of the property if you are seriously considering that option.


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## mark71 (2 Jul 2008)

eileen alana said:


> Gosh, that is very strange, I wonder why they have that policy.


 At the moment there are so many developments not being sold out and developers feeling the squeeze  that thay can take there pick from these also.Which does n't help.


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## PM1234 (2 Jul 2008)

mark71 said:


> We bought it for £68,000.Then bought a new house just as the market peaked for 315,000euro splitting the mortgage 210,000 on the new place and leaving 160,000 on the old with a interest only mortgage for 3 years.If i got 170 i would be over the moon just to clear the thing.



Figured you did something like this when you said you had difficulty selling it on after having it for over eight years. 

How is the €170K advertised price comparable to other properties in the area? How are you advertising it? Are you using local agents?  Can you afford to make a loss on the property just to get rid of it?


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## mark71 (2 Jul 2008)

ClubMan said:


> So you bought it for c. €86K?
> When? (Indexation relief on the acquistion price may apply)
> When did you rent it out first? (In case stamp duty clawback applies - and may be overdue)
> I don't understand what mortgage is outstanding on the rental property.
> You really need to crunch the numbers and see what is a viable (e.g. no loss making and ideally profit making after taxes) scenario for disposing of the property if you are seriously considering that option.


It was bought in '99.Rented out last August for the first time.There was around 56,000 left on the mortgage. Then when we bought the new place we had to take out 370,000 the only way we could do this was to split the mortgage 210,000 on the new and 160,000 on the old.


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## rabbit (2 Jul 2008)

mark71 said:


> We bought it for £68,000.
> If i got 170 i would be over the moon just to clear the thing.


 
I know of property which people are trying to sell for *less *than they bought it for, and they cannot,  so count yourself relatively lucky.


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## mark71 (2 Jul 2008)

rabbit said:


> I know of property which people are trying to sell for *less *than they bought it for, and they cannot, so count yourself relatively lucky.


Lucky? I don't think i'd consider either situation one bit lucky.


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## rabbit (2 Jul 2008)

mark71 said:


> Lucky? I don't think i'd consider either situation one bit lucky.


 
 If you bought it for more than you can sell it for what would you call that ?

You bought it for £68,000. 
You say if you got 170,000 now you would be over the moon ...so you would have a realistic chance of getting what 150000  or 160,000 for the property ?  If this is all you "suffer" as a result of the property downturn then you are relatively lucky, compared to some people I know.


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## mark71 (2 Jul 2008)

rabbit said:


> If you bought it for more than you can sell it for what would you call that ?
> 
> You bought it for £68,000.
> You say if you got 170,000 now you would be over the moon ...so you would have a realistic chance of getting what 150000 or 160,000 for the property ? If this is all you "suffer" as a result of the property downturn then you are relatively lucky, compared to some people I know.


 I don't think you have read all the thread ,the problem is it will never sell while the neighbors are there ,too many people know what they are like and the problems they have caused in the past and continue to do so to all around them .I could knock 100k of the price and it would n't be touched.


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## ClubMan (2 Jul 2008)

mark71 said:


> I don't think you have read all the thread ,the problem is it will never sell while the neighbors are there ,too many people know what they are like and the problems they have caused in the past and continue to do so to all around them .I could knock 100k of the price and it would n't be touched.


Have you tried?



mark71 said:


> I have it listed at around 30-40k under the market value as is,over a year and a half on the market.That's why i'm seriously considering this route .I'v no plans to leave my present home would i claw back my credit rating paying this mortgage,never late with bills and i clear the credit card every month? A bad credit rating for few years would be a relief to what we have to put up with now.


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## mark71 (2 Jul 2008)

ClubMan said:


> Have you tried?


It's as catch22 situation if i drop the price through the floor outside buyers are going to be suspicious and want to know why it is so low,this has happened already with two sets of potential buyers who when have done some looking into the property have run a mile.Wouldn't you?


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## Camry (3 Jul 2008)

My suggestion.

Talk to your lender and outline to them the situation and the following plan.

Arrange to remortgage as much as you can against you new property. Given the apparent LTVs you might be able to transfer about €80,000 across leaving the old mortgaged with €80,000 and the new aroind €290,000. However, given market movements the bank might not allow you to go that far.

Then drop the price of the old place, down to the point at which you will cover you mortgage. That would be €80,000 in this case. You will have maximised your chances of finding the true "market value" and getting a sale. If you can sell at €80k you will be rid of the problem, still have your home.


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## mark71 (3 Jul 2008)

Camry said:


> My suggestion.
> 
> Talk to your lender and outline to them the situation and the following plan.
> 
> ...


 Thanks for that advice ,that's the kind of thing i was looking for when i started this thread.It is differently a option to seriously consider ,thanks again.


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## joejoe (4 Jul 2008)

mark71 said:


> I would gladly,if Mugabe needs to get out of Zimbabwa anytime soon and needs a cheap house he 's more than welcome!


 
Whats a cheap house? This is something that is currently been redefined.

Joejoe


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## mark71 (4 Jul 2008)

joejoe said:


> Whats a cheap house? This is something that is currently been redefined.
> 
> Joejoe


 A damn sight cheaper than anything else around the area.With the added bonus of psycho neighbours thrown in for free!


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## joejoe (4 Jul 2008)

mark71 said:


> A damn sight cheaper than anything else around the area.With the added bonus of psycho neighbours thrown in for free!


 
Sounds likey a really good find, you most live in the midlands?

Joejoe


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## FranceRes (4 Jul 2008)

Mark71 - you don't say whether the un-neighbourly neighbours are home owners, tenants - either private or council.

I would first find out everything I could about them before losing my tenants and being forced to sell my investment property.

If they are council tenants - the council has been known to evict tenants guilty of anti-social behaviour.

If they are private tenants, you may have some recourse with their landlord as he is required to deal with them if the are guilty of anti-social behaviour.

Is there a residents' association in the estate?  Are any other neighbours having problems with them?

If they are home owners, then I would install CCTV in a place where they can't see it and would record absolutely everything they do.  Then you would have evidence to show to the Guards, the local council and if necessary, your solicitor.

I know someone who had to do this about 6 months ago because an unneighbourly neighbour was throwing dog pooh into their back garden where their children play (it's astonishing the levels to which some people will stoop and I wouldn't have believed her had I not seen the footage on the CCTV).

They got the council involved and also got their solicitor to send them a letter warning that evidence was in existence as to their behaviour and if it didn't cease immediately, court proceedings would be started.

It worked and they now don't have any more hassle.

I understand that your situation is difficult, but why should you and possibly others be driven from your house by such people.


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## mark71 (4 Jul 2008)

#37 FranceRes. They are homeowners in fact they have two ,one in the countryside that unfortunately they don't live in! I have sent solicitor letters to them and now my tenant is going to make a statement to him as this is the only way we can take it further starting with a court order.As for cctv i tried that, they had one up themselves so i put one up, they spotted mine took photos of it took there own down and told the guards i was invading there privacy!


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