House Rentals in Athlone

boredatwork82

Just looking at renting a place in Athlone.
There is 208 rental properties. Most of them are there since I started looking a few weeks ago.
Do land lords/letting agents not realise that this means they are over priced?

Supply outstrips demand. Any one have any experience of dealing negotiating house rental prices in Athlone? I am not talking getting €50 a month off, I mean getting a couple of hundred a month off!

athlonelad

boredatwork82 wrote: »

Just looking at renting a place in Athlone.
There is 208 rental properties. Most of them are there since I started looking a few weeks ago.
Do land lords/letting agents not realise that this means they are over priced?

Supply outstrips demand. Any one have any experience of dealing negotiating house rental prices in Athlone? I am not talking getting €50 a month off, I mean getting a couple of hundred a month off!

Maybe landlords feel that if they offer it too cheap it would attract "undesireables".
Rent to buy is the way forward. The rent you pay over say 2 years comes off the purchase price. Its attractive to landlords/homeowners because the house isn't empty and will be looked after by the tenant if they intend on buying. Its attractive to tenants because your rent isn't "dead money" and is going towards something, plus you have the option of walking away at the end of your 2 years if house prices take another tumble or if you change your mind.
Did you consider this option OP? Or is it happening in Athlone? I know a year or so ago they were doing it in an estate in Ballymahon.

boredatwork82

I suppose I should be looking at buying instead. Really makes sense. Rent is dead money. Also I suppose putting my ridiculously hard earned money into a house will only ever reap benefits.
Property will never go down in value.

Kurz

There's loads of nice apartments around OP and they're much cheaper than houses and usually a much higher standard, in Athlone anyways. All the houses around the town built in the last couple of decades are woaful and the estates are going downhill fast. I think you should stick to the dead money for rents rather than the zombie money for mortgages. You'll land yourself 5 years down the road living in a slum with a debt of 150k.

There's a lot of small-ish houses for rent just outside town in the countryside if you have a look on daft. That's what i'd be looking at in your situation.

galait

Kurz wrote: »

There's loads of nice apartments around OP and they're much cheaper than houses and usually a much higher standard, in Athlone anyways. All the houses around the town built in the last couple of decades are woaful and the estates are going downhill fast. I think you should stick to the dead money for rents rather than the zombie money for mortgages. You'll land yourself 5 years down the road living in a slum with a debt of 150k.

There's a lot of small-ish houses for rent just outside town in the countryside if you have a look on daft. That's what i'd be looking at in your situation.

I agree , stay away from the New Estates , We bought and quickly sold at a large profit a 4 Bed Semi , We did this 6 yrs ago and moved in to newly built house in the Country 10 mins drive from the Centre of Athlone , I sometimes drive back by the 4 Bed Semi and it is already close to a slum.

boredatwork82

Was been sarcastic above in my second post. I know all about Athlone and all the lark. I have no interest in buying a gaff. Anyways lets get this back on track - why are rental properties in Athlone completely and utterly overpriced?
I know people have mortgagee on these rental properties, but surely you better off renting it out for 400 quid than leaving it sit idle for months and months.
A property is not worth how much you owe on it. Its only worth what someone is willing to pay for it.