Thinking of selling a rental property? You should probably get a move on...

Friends.This is hardly a time to get out.Far from it.This is a time to get in.!!Check out all the investment sages advice over the last 100 years perhaps.In my humble opinion of course.
 
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DK123 said:
Friends.This is hardly a time to get out.Far from it.This is a time to get in.!!Check out all the investment sages advice over the last 100 years perhaps.In my humble opinion of course.
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I don't the reckon the sages are aware of how distorted the Irish rental market is.
 
resurrecting this thread..
How likely do you think this bill will come in?

I have 1 rental property, where the tenants moved in (thk god great tenants) in 2018, Havent put up the rent since, prob 600 below market rent ATM.. My thinking is - good tenants are worth their weight in gold..

would like to keep as they are good tenants, and would be a great fund to have. I have no idea where they would go if I did seel, as they would be paying alot more every year, which Im not sure if they could afford.. anyway, its a business so I should not be thinking this way

Im seriously thinking of just selling up, this is a retirement fund, but the way things are going I might not be able to sell, and who knows what other restrictions would be in place by then?

Last think I need when retire (in abt 15 years) is the hassle of tenants!
 
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Debateable over a 15 year period. Its likely some more radical govt could emerge at some point OR the housing crisis just gets so severe property rights of owners are gutted to satisfy those wielding the loudest pitchforks. That said, rental income is a good pension supplement too. All of it boils down to why you entered in the first place, and for an awful lot of people who entered primarily for capital gains over long term rental income, its likely to have been a bumpy ride.
 
lff12 said:
Debateable over a 15 year period. Its likely some more radical govt could emerge at some point OR the housing crisis just gets so severe property rights of owners are gutted to satisfy those wielding the loudest pitchforks. That said, rental income is a good pension supplement too. All of it boils down to why you entered in the first place, and for an awful lot of people who entered primarily for capital gains over long term rental income, its likely to have been a bumpy ride.
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Thanks for the reply, I entered as an investment, my mortgage is low enough that I have a little profit after paying tax and mortgage, and then the lump sum of selling when I retire - ya cant go wrong..
But now it looks that I wont be able to do that, and will be left having to deal with a rental property when I retire, which I really dont want..
 
I sold a rental over the risk of a tenant not paying for up to two years before you can get them evicted and over RPZs, where over time the rent could fall behind inflation as rent increases are capped at max 2% in RPZs, that is then compounded if you have to sell to another landlord due to a sitting tenant having the right to remain forever (were the law to change there). The price then will be determined by the low rent. I also didn't like the risk of random large expenses potentially coming in around maintenance.

It sounds like those might be less of an issue for you if you have tenants you trust and aren't in an RPZ. Something to bear in mind is that when you retire, for the nice lump sum, you still have to sell the place! That can take a long time and can be a lot of hassle, that was certainly my experience, even with a relatively in demand property location. I wouldn't be to keen to go through it all again when I'm retired and looking for an easy life.
 
Well mine is RPZ as well :(
Not being able to sell is bad enough, but as the rent I charge is soo low, I would have to take a considerable cut if I was to sell to another landlord..
As Ireland is skewed in anything the government do, I think I will have to sell up.. will wait til new year to break the news to the tenants, let them have Xmas..
Do ppl not see the government are making things worse, all these regs that are in favour of tenants just means the small landlords are selling up making the number of properties avail less and increasing rent.. do tenants not see this :)
 
colin44 said:
Do ppl not see the government are making things worse, all these regs that are in favour of tenants just means the small landlords are selling up making the number of properties avail less and increasing rent.. do tenants not see this :)
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And the number of properties available for families to buy and live in has increased. Swings and roundabouts?
 
Steven Barrett said:
I have seen a house absolutely wrecked because the tenants left their dogs in the house all day while they were in work. Dogs peeing on the floor, it going under the skirting boards, which between that and the chew marks meant they had to be replaced, along with all the scratch marks on doors and windows. The landlord of the property now won't rent the property for people with pets and actually had trouble renting it last time out as most people had a dog.
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But landlords can exercise their periodic right to inspect - and find this and other issues.
 
Fortune said:
There's a shortage of new homes being built, and we're all here rearranging the shortfall between rental and buying with the swings and roundabouts.
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My point was that the net effect is zero and not negative as some people seem to think.
 
ClubMan said:
My point was that the net effect is zero and not negative as some people seem to think.
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Sorry, I was agreeing with you. A first time buyer purchasing a house that was previously is one less household in the rental market, but one less property available for rent. Net effect of zero on the rental market.
 
ClubMan said:
My point was that the net effect is zero and not negative as some people seem to think.
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2 things though
- it's a cheap rental that disappears
- the fact that it was a cheap rental doesn't mean that it will be a cheap property to buy. On an individual basis, it doesn't help the people who can't reach the property ladder.
 
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