Why would you pay this for a rental property?Light/Heating €2,000.00
Tax deductible.Accountant €750.00
Thanks for the info. There is no mortgage and value of the house would be around €300k. Looking at similar properties they are getting between €1700-€1900 rent a month. I am lucky that currently I don't have any outstanding loans and a very small amount of debt.
So your return from renting (before tax) is around 5%. A few years ago you could rely on seeing a decent chunk of capital appreciation on top of that, but depending on your view of the Irish property market and the location of the property, I wouldn’t be banking on it now.
Get a really good agent that has been recommended and that wont happen
I feel this property has appreciated to the max and the only way for it to go is downward so around about now is to me the best point to sell if I'm going to do it. The idea of having a semi passive income coming in is very appealing, especially when the cost of living where I am is substantially lower than Dublin.So your return from renting (before tax) is around 5%. A few years ago you could rely on seeing a decent chunk of capital appreciation on top of that, but depending on your view of the Irish property market and the location of the property, I wouldn’t be banking on it now.
5% is quite achievable by investing that money in funds (like Vanguard’s) or ETFs, assuming you are happy to buy and forget, not stress over the ups and downs. Maybe look into doing so via your pension as there could be healthy tax breaks for doing so depending on where you live.
Personally I would sell it.
Hi, first time poster and have a question that is related to this thread.
What would be reasonable and is the market average with regard to % of rent paid to a letting agent to manage a property in terms of initial placement of tenant and on going management?
Would both of these be deductible for tax or just the monthly management fee?
Hi, first time poster and have a question that is related to this thread.
What would be reasonable and is the market average with regard to % of rent paid to a letting agent to manage a property in terms of initial placement of tenant and on going management?
Would both of these be deductible for tax or just the monthly management fee?
Be prepared for some late night phone calls
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