Thanks for info, all duly noted. I don't have a vested interested in that, or any other sector actually. I just happen to have experience to BTL's in the area.Disabled for new posters to put off spammers.
One of the goals of AAM is to provide a resource people can refer to for answers or guidance on common issues. People taking conversations offline goes against this goal and so is discouraged.
Note also that if you are professionally involved in a related sector we ask that you declare any interests and note that any advertising or soliciting for business is banned.
In my opinion it is never wise to charge less than you can. A few years goes by, the rent falls further behind the market. You resent it and more to the point the tenant is trapped, they cannot afford to move out, and they resent it.You will rent it for €1,200, you could get higher but I think 1,200 is fair and still gives the return you're after.
In my opinion it is never wise to charge less than you can. A few years goes by, the rent falls further behind the market. You resent it and more to the point the tenant is trapped, they cannot afford to move out, and they resent it.
Each to their own I suppose, I have certain percentages that I want achieve. Once I achieve that, I am happy. My moral compass won't allow me to keep charging way above what is needed. I'm only in the game about 5 years but my methods are working quite well for me so far. Not to say that's the right route for everyone but I can only comment on how it's been dong for me.In my opinion it is never wise to charge less than you can. A few years goes by, the rent falls further behind the market. You resent it and more to the point the tenant is trapped, they cannot afford to move out, and they resent it.
I have never been to New Ross but the minimum wage is €11.30, for a 39 hour week that is €440.70 or €1,908 per month. That is €3,816 for 2 people.1,200 is a fair rent for a small 2 bed in New Ross? The rental market is more broken than I thought it was.
It works out at 35% on the button once you take account of the small amount of tax paid on minimum wage. The bigger problem is paying that in New Ross!I have never been to New Ross but the minimum wage is €11.30, for a 39 hour week that is €440.70 or €1,908 per month. That is €3,816 for 2 people.
€1,200 is 31% of €3,816 so a couple, on minimum wage, can rent a 2 bed apartment for just less than a third of their income.
According to https://www.housingagency.ie/housing-information/affordability-calculator
Housing cost affordability is measured by looking at the proportion of household income that is spent each month to meet the basic cost of accommodation. This internationally used way of assessing housing cost affordability suggests spending less than 35% of monthly disposable income on basic accommodation costs is generally affordable for most households.
Hardly a broken market.
so you don't understand my point!I have never been to New Ross
Each to their own I suppose, I have certain percentages that I want achieve. Once I achieve that, I am happy. My moral compass won't allow me to keep charging way above what is needed. I'm only in the game about 5 years but my methods are working quite well for me so far. Not to say that's the right route for everyone but I can only comment on how it's been dong for me.
You don't have to pay electricity etc., 2.7 of the Licence agreement says it is the responsibility of the tenant.Looked into Ukraine scenario, I'd have to cover gas/ electricity/broadband etc so stopped being attractive then. My experience with things that are provided free is no value is placed on them and I'd likely get stung with big bills.
Hey, New Ross is a lovely place!so you don't understand my point!
The problem is when they change the rules and you don't achieve your "percentages" it will be too late to change.
Yes, lots of lovely places 'near' New Ross. The town itself though... personally not where I would choose to live in a 58 sq metre apartment, or a run down 100 year old end of terrace.Hey, New Ross is a lovely place!Waterford is only 15 mins down the road the town itself is very nice and the surrounding area has loads of lovely historical sites and gardens and other places of interest to visit
I recently sold an apartment and it was empty for 7-8 months before the sale went through. Can that time be included in the 2 years? It should help quite a bit if you are going for option 3!!Three options
1. Significant renovation
2. Offer for Ukrainian accomodation €800 tax free
3. Leave vacant for 2 years
has to be unregistered at rtb for a full two years; so you'd need confirmation that last tenant vacated (say) 8 months before you purchased, then wait another 16 months before rental.I recently sold an apartment and it was empty for 7-8 months before the sale went through. Can that time be included in the 2 years? It should help quite a bit if you are going for option 3!!
Yes, lots of lovely places 'near' New Ross. The town itself though... personally not where I would choose to live in a 58 sq metre apartment, or a run down 100 year old end of terrace.
Sorry, I didn't mean to be specifically hard on New Ross. But are those rents sustainable? I would imagine it was possible to rent a 3 bed semi for c.700 up the the end of 2018?I think it's a lovely little town but maybe I'm just a simple guy that's easily pleased.
No need to apologise to me, I have no ties to the area other than property and the fact I like to go there for a coffee now and again!Sorry, I didn't mean to be specifically hard on New Ross. But are those rents sustainable? I would imagine it was possible to rent a 3 bed semi for c.700 up the the end of 2018?
It looks like rents have gone from c. 70% of the national average to over 100% in that time frame. Is that the impact of being outside RPZ?
Well, that probably deserves it's own thread. In fact I might make one for it. It's a question I've been mulling over for a while and discussing with several people in the industry. On the one hand, if you follow the simple laws of supply and demand, then I can't see how prices will come down because supply will not outweigh demand for some time to come. However, if you ignore supply / demand and just think about it for a moment and see the strain that standard couple are put under in order to afford a standard town house in a city / town outside Dublin now (circa say €1,400 per month), then the rates are going to have to at least plateau at where they are now if not fall slightly. However, as I mention, it's hard to see that happening if demand is so high.... tough question! Of course there are other factors to consider like government intervention, HAP, etc. etc. that add to the complexity.But are those rents sustainable?
Rent for a 2-bed house in Wexford (which is a lot more than New Ross) is €8,46 in Q1 according to Daft. They don't have statistics on 2-bed apartments.It looks like rents have gone from c. 70% of the national average to over 100% in that time frame. Is that the impact of being outside RPZ?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?