Should I sell invest. apartment?

L

Ludwig

Guest
I have an apartment rented out as an investment. The first tenant stayed two years but one of the reasons he gave when moving out was the noise coming from the apartment next door.

The new tenants have been there only three months and now want to leave as the noise level is so bad. We have gone down all the usual routes i.e. asking the neighbours to be a bit more considerate but this was ignored. We tried the Management Company but they were of limited use.

Is it worth going down the road of finding new tenants when chances are I'm going to have the same headaces in a few months time? Should I just cut my losses? Problem is I don't have the money to reinvest in property.

:confused:
 
I am very surprised that the management company did not do anything. Im sure that you can find out who the owner is or ask the managing agent to report your dissatisfaction to them. alternatively go up knock on the door and ask them to keep it down. go there at night 10/11pm and see for yourself and if it is bad ring the managing agent and the guards and tell them you are not too pleased. you should not be selling your apartment becuase your neighbours are a nuisance. How would you feel if the owner of that apt buys your apartment for a cut prices because you sick of it and he moves in another noisy tenanat. stand up for yourself. PM me if you need any further advice .
 
why is having the money to reinvest in property an issue?

selling because of noisy neighbours is an extreme move given the transaction costs involved. How long have you had the property and how much of the mortgage is outstanding? If you have touble filling the property can you cover the mortgage out of your own funds?

Do you know if the nosiy neighbours rent and if so can you approach their landlord directly?

Have you made an official complaint to the guards or the council? If so you may be olbiged to disclose this fact to any potential buyers. Moreover, you tennants would probably be inclined to let any prospective buyer know about the noisy neighbours.

I empathise with your tennants as noise pollution of this type is horrible to live with. There must be a better solution than selling up. What type of noise is it? Does it go on all day?
 
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