Sell rental property as tenant leaving?

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AdvicePlease!

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Hi we have a two bed apartment purchased in 2008 and the tenant has just given notice to leave next month. Rent is Eur1,660 pm. We have a tracker mortgage (ECB +.8%) with ten years left. My initial thought was to rent it out again but am wondering if this is an opportunity to just be done with it and walk away with about Eur80k after CGT. I'm non-resident and have read about plans for tenants remaining in-situ if property sold in the future so this makes me think we should just sell now. I really appreciate any advice. Thank you.
 
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I think so. Interest rates are rising but rents are capped. So it's going to become less profitable.

You face a few huge risks.
A bad tenant is very difficult to deal with, and even more difficult when you abroad.
If the legislation does not allow you to end the tenancy to sell the property, you could be really stuck and the property would be devalued.
And the two will probably combine. With every attack on the landlord's rights, bad tenants are emboldened.

Most tenants are decent, pay their rent on time and look after the place. But if you get one of the 10%(?) who act the maggot, then you would be in deep trouble.

Follow the crowd of private landlords to the exit doors.

Brendan
 
I'm in a similar situation. Don't want to sell but if there are not major tax incentives in the Budget then I will. That said unless Sinn Fein row back on there promise to not allow the ending of a contract to sell then I will sell next summer before they are likely to come to power. Kills me to evict a Ukraine family that have been good tenants for the last 6 years on the RAS scheme but what can I do...
 
If you want to be landlord for a long time then stay in. If you are not sure or want to a be short term landlord then consider leaving.

Because I think any changes will likely make it very hard to change a rental property back to owner occupied, and will have to be sold with tenants in place. Which will have impact on the price it can be sold for. If rental income is more important than capital gains. It might still be worth it.
 
So it appears after all the bluster they is no tax incentives for landlords.
There will be a huge exist of landlords in the next 6 months I predict..
 
That has to be want they want. Only explanation. People think its hard to get a place now wait 6 months.
 
Anything they would have done at this stage would have just been a sop anyway. It is way too late for action at this stage - the ship has already sailed. The flip side of a populist give away budget is not doing anything that could be considered politically toxic. I am not surprised.
 
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