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Renting while selling?

  • 24-06-2015 11:51am
    #1
    gaiscioch
    Registered Users, Registered Users 2 Posts: 1,534 ✭✭✭


    We've had a house on the market for the past couple of months without selling it. It has been empty in that time so we've lost that rental income. Naturally, we'd like to keep some income coming in while it's on the market so we're thinking of putting it back for rent (we'll rent it very quickly).

    What do other people do in this situation? Thanks.


Comments

  • #2
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Air BnB? Short term lets with more protection for you


  • #3
    Ri_Nollaig
    Registered Users, Registered Users 2 Posts: 2,297 ✭✭✭Ri_Nollaig


    Renting will make it harder to sell.
    You/or the EA will have to ask permission and arrange times that suit the tenants when organising viewings.
    If you do manage to sell it, you'll have to ask the tenants to leave and that means giving the correct notice period etc. May cause delays.
    Worse case, the tenant doesn't leave and ends up costing you the sale! Mightn't be an issue but just something to consider when weighting up the pros/cons of it.

    Your call in the end, but I guess if you are seeing no traction on the sell perhaps its best that its not sitting idle either. Atleast the house will be lived in this way.


  • #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    If you want to sell- be prepared to undercut all local prices.
    The amount of property on the market in Dublin- is at its highest level in over 10 years. Many, many landlords- such as yourself- are trying to get out before major price falls occur (thanks to the Central Bank's lending restrictions- alongside the simple fact that the number of cash buyers in the market has dwindled).

    Letting the property again- is fine- if you accept that you're walking away from selling it.


  • #5
    MouseTail
    Registered Users, Registered Users 2 Posts: 1,663 ✭✭✭MouseTail


    Your best bet is to get someone in you know and trust, who is willing to accept the insecurity of tenure in exchange for cheaper than market rent. Other than that, keep it empty.


  • #6
    Miamiheat
    Registered Users, Registered Users 2 Posts: 291 ✭✭Miamiheat


    as a buyer who has been house hunting 6 months i can tell you:
    Rented property = turnoff and expected headache (as a buyer) and if you have wasted time on one or two already you become more picky about those signs.

    Aside from anything that would make your house so particular i don't agree with the fact that there are to many properties on the market => there is a load of overpriced dumps, and plenty of buyers outbidding each other on the right ones.

    Real issue is why isn't your property selling: perhaps you should focus on that fact. Overpriced? Visible issues, location issue?


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