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Now ye're talking - to a landlord

2456

Comments

  • #52
    enricoh
    Registered Users, Registered Users 2 Posts: 4,969 ✭✭✭enricoh


    Have you had to pay any tenants to leave? I'm not a landlord but having to do so would sicken me.


  • #53
    Michellenman
    Registered Users, Registered Users 2 Posts: 11,195 ✭✭✭✭Michellenman


    I'm a Landlord, AMA wrote: »
    Hi there
    I went to the bank and told them the house purchase was for myself.
    I tried to get a BuyToLet mortgage but they wanted a 25% deposit
    I think it was only 8% when I told them I was going to live in it ..

    They gave you a mortgage on the basis you were going to live in it but it was 3 houses you bought, no? Maybe I’m confused...

    Are you happy for people to make changes and personalise the places? I’ve always been happy with landlords but have to say I’ve heard some bad stories about letting agents. Do you use a letting agent?


  • #54
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    enricoh wrote: »
    Have you had to pay any tenants to leave? I'm not a landlord but having to do so would sicken me.

    No I never had to pay to get anyone to leave nor did I ever hear of it to be honest


  • #55
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Michellenman wrote: »
    They gave you a mortgage on the basis you were going to live in it but it was 3 houses you bought, no? Maybe I’m confused...

    Are you happy for people to make changes and personalise the places? I’ve always been happy with landlords but have to say I’ve heard some bad stories about letting agents. Do you use a letting agent?



    Hi
    I told the back the first house was for me to live in in 2004 I bought it and rented it out straight away and 9 months later I went back to the bank and went for a second one and a year after that I went and got the third one ....after saving up for all the stamp duty and sols fees
    The bank were only too happy for my business ...
    Back then I was on about 40k a year and the bank gave me over 807k .... at 23 /25 years old ... looking back it was crazy

    To answer your question I tell people that they can do what they want with the house once they give it back to me the same colour as I gave it to them . They can have pets too no problem . I use a letting agent for one house given the grief I have had with 2 tenants in it


  • #56
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    circular flexing wrote: »
    He is only trying to help. You are being fleeced by your accountant and you are unaware that this is happening. You don't understand how deductions work.



    Anyway, my question is how long do you think you will hold onto these properties? Does it concern you that there might be another crash and you might be left exposed if you did want to sell them.

    I’ve no plans to sell them at all .. I’ll be 50 when they are all paid off .. it should give me opportunities to travel and that and not have to work so much


  • #57
    Better Than Christ
    Closed Accounts Posts: 1,135 ✭✭✭Better Than Christ


    I'm a Landlord, AMA wrote: »
    Perhaps some tax cuts for private landlords

    Why is the idea of paying tax on their income viewed so negatively by landlords? Why should people who are already massively privileged be given tax cuts?


  • #58
    Brego888
    Registered Users Posts: 1,321 ✭✭✭Brego888


    Have you ever leased long term to the council or used an agent to manage any of your properties?


  • #59
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Brego888 wrote: »
    Have you ever leased long term to the council or used an agent to manage any of your properties?

    Yep all are currently with the hap scheme at the moment


  • #60
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Better Than Christ wrote: »
    Why is the idea of paying tax on their income viewed so negatively by landlords? Why should people who are already massively privileged be given tax cuts?

    Hi it’s the way it’s taxed see the previous posts on how the taxing works and all the new taxes that I paid that were not there when I bought them



    , I don’t see how I am massively privileged at all .... I wasn’t given the houses nor was it easy to keep and maintain them i explained that when I was 23 as all my pals were going to Ibiza and buying new cars I was saving up for a house deposit / stamp duty and solicitors fees even down to bringing my own lunch to work and not going out for a year.. they still haven’t broke even after 16 years and last year was the first year where they paid for themselves


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  • #61
    dartboardio
    Registered Users, Registered Users 2 Posts: 2,436 ✭✭✭dartboardio


    Any horror stories with really bad tenants? causing issues or having fights, or drug addicts for example? how did you deal with them?


    Any tenants you struggled to get out when their lease was up?


  • #62
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    Are your houses furnished?
    Why do you think unfurnished houses are so much more expensive to rent?
    If a tenant wanted their own furniture in your home would you get rid of your own stuff?
    I sold a house & went to rent for a while, moving areas, I have ended up selling most of my furniture because the landlord has nowhere to put the furniture in the house I'm renting.......


  • #63
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    dartboardio wrote: »
    Any horror stories with really bad tenants? causing issues or having fights, or drug addicts for example? how did you deal with them?


    Any tenants you struggled to get out when their lease was up?


    One fella was selling drugs
    Another built a bomb in the garage and blew up an estate agents in Roscommon it was all over the news at the time ... gave them both notice ....the bomb fella made up all threats but nothing ever came of them .. he got 2 years in the end over it the house was raided and all over him


  • #64
    skinny90
    Registered Users, Registered Users 2 Posts: 2,489 ✭✭✭skinny90


    Since you bought and started renting the houses has their been major price increases till now? What kind of rates where you charging per month vs now...

    Also, what happens when tenants stop paying rent, have you had any issues removing them from the properties whilst still having to pay the mortgage


  • #65
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    bubblypop wrote: »
    Are your houses furnished?
    Why do you think unfurnished houses are so much more expensive to rent?
    If a tenant wanted their own furniture in your home would you get rid of your own stuff?
    I sold a house & went to rent for a while, moving areas, I have ended up selling most of my furniture because the landlord has nowhere to put the furniture in the house I'm renting.......

    Don’t know to be honest ...,I do understand that people might want to bring their own beds and that .And i did try to make allowances because of that but for example I would have nowhere to store 3 beds and then if I threw them out and the tenant left I would have to buy 3 new ones


  • #66
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    skinny90 wrote: »
    Since you bought and started renting the houses has their been major price increases till now? What kind of rates where you charging per month vs now...

    Also, what happens when tenants stop paying rent, have you had any issues removing them from the properties whilst still having to pay the mortgage

    I have a 3 bed in d24 when I bought the house the going rent was 1200 per month then it went down to 850-900 in the recession ...it’s let at 1600 now I could easily get 2000 plus for it but the people there are nice and don’t give me any grief so I’m happy to leave it at that,

    I’ve only ever had one issue with someone being in arrears and the house got raided shortly after they got into arrears do it wasn’t too hard to evict them ..


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  • #67
    Better Than Christ
    Closed Accounts Posts: 1,135 ✭✭✭Better Than Christ


    I'm a Landlord, AMA wrote: »
    Hi it’s the way it’s taxed see the previous posts on how the taxing works and all the new taxes that I paid that were not there when I bought them



    , I don’t see how I am massively privileged at all .... I wasn’t given the houses nor was it easy to keep and maintain them i explained that when I was 23 as all my pals were going to Ibiza and buying new cars I was saving up for a house deposit / stamp duty and solicitors fees even down to bringing my own lunch to work and not going out for a year.. they still haven’t broke even after 16 years and last year was the first year where they paid for themselves

    I know plenty of people who bring their own lunch to work and can't afford to go out, because they're giving in excess of 50% of their income to their landlord. Jesus Christ, you own three homes; of course you're privileged. Whether you can see it or not, you benefit enormously from a system that is designed to transfer wealth from working people to someone who, by their own admission, acquired a mortgage by deception.


  • #68
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Better Than Christ wrote: »
    I know plenty of people who bring their own lunch to work and can't afford to go out, because they're giving in excess of 50% of their income to their landlord. Jesus Christ, you own three homes; of course you're privileged. Whether you can see it or not, you benefit enormously from a system that is designed to transfer wealth from working people to someone who, by their own admission, acquired a mortgage by deception.

    you seem to have a chip on your shoulder about landlords .. I am a working person from an average working class family I grew up in not a great area in Dublin .,you are making it sound like I was given the houses and I didn’t have to pay the mortgage , cover shortfalls ,pay when the tenant trashed the house etc and work and pay to keep them for the past 16 years
    If I sold them all tomorrow I would walk away with zero
    I don’t think I’m privileged at all really
    Hard working and determined more so


    a mortgage by deception 😂😂please 😂😂
    You ever lie on a form ? Ever told a lie ??
    The first mortgage maybe .., the next 2 the bank were all over me to get the business but I still had to pay stamp and sols fees etc



    Anyway thanks for your question
    Next person please


  • #69
    Slydice
    Registered Users, Registered Users 2 Posts: 10,501 ✭✭✭✭Slydice


    How much money do you take in each month?
    How much of that is profit?

    Do you know what a REIT is? If you do, what do you think of them and why?

    Do you know what HAP is? If you do, do you accept it or not and what do think of people who use HAP and why?

    Do you discuss matters with other landlords? What do you think about other landlords? Are some sound, others not?


    I better stop.. feels like I'm setting the Questions for English Paper 1 in the leaving cert!


  • #70
    Better Than Christ
    Closed Accounts Posts: 1,135 ✭✭✭Better Than Christ


    I'm a Landlord, AMA wrote: »
    you seem to have a chip on your shoulder about landlords ..

    The term 'chip on your shoulder' implies that my views aren't rational. I simply find it nauseating when people are blind to their own privilege and feel aggrieved about paying tax on income. Especially when the amount of income depends not on their own labour, but on market forces.
    I'm a Landlord, AMA wrote:
    you are making it sound like I was given the houses and I didn’t have to pay the mortgage , cover shortfalls ,pay when the tenant trashed the house etc and work and pay to keep them for the past 16 years

    I'm doing nothing of the sort. At no point have I suggested that you did anything other than borrow the money to buy them. You're making yourself out to be some kind of martyr here and throwing the toys out of the pram when the questions aren't to your liking.
    I'm a Landlord, AMA wrote:
    If I sold them all tomorrow I would walk away with zero

    And aren't you lucky you don't have to do that? As you said yourself, you hope to be able to live off solely off the rents within a decade. See, that's why I have no sympathy for the whole 'woe is me, I have to pay tax' side of being a landlord.
    I'm a Landlord, AMA wrote:
    You ever lie on a form ?

    No, but that's beside the point. I'm not judging you for deceiving a financial institution - I'm just saying it's a great privilege to have gotten away with doing so.


  • #71
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Slydice wrote: »
    How much money do you take in each month?
    How much of that is profit?

    Do you know what a REIT is? If you do, what do you think of them and why?

    Do you know what HAP is? If you do, do you accept it or not and what do think of people who use HAP and why?

    Do you discuss matters with other landlords? What do you think about other landlords? Are some sound, others not?


    I better stop.. feels like I'm setting the Questions for English Paper 1 in the leaving cert!

    Hi there,
    I’m not sure what REIT is to be honest I just googled the site and I saw it’s some kind of group buy to let scheme ? But I don’t know anything about it to be honest

    All my place are on the HAP scheme .. one bad thing tho there is a 4 month waiting list on HAP processing new tenants so you do have to cover the mortgage yourself while the application is processed I have no problem with the HAP scheme or people that receive it .. I don’t know why some landlords do have an issue with it

    At the moment I roughly take in monthly

    4700 rent

    Mortgage is 3450
    House insurance 100
    Annual tax bill is about 12k (say 1000 a month )
    Solicitors fees 1500 a year
    Prtb
    Lpt
    Maintaince and repairs


    So basically I make zero in capital per month ( I did have to add money to the rent to cover the mortgage for a long time )


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  • #72
    Slydice
    Registered Users, Registered Users 2 Posts: 10,501 ✭✭✭✭Slydice


    Thanks!

    Do you have a preferred political party for doing landlord business?

    Do you think any of the politcal parties would bring changes to help you make more money than you currently do?

    Do you rank the rest of the political parties in how they affect your business? If you do, what are their rankings?

    What's the best political policy for landlords right now?
    What's the worst political policy for landlords right now?



    Is this question off-limits?
    Slydice wrote: »
    Do you discuss matters with other landlords? What do you think about other landlords? Are some sound, others not?


  • #73
    skinny90
    Registered Users, Registered Users 2 Posts: 2,489 ✭✭✭skinny90


    I'm a Landlord, AMA wrote: »
    Hi there,
    I’m not sure what REIT is to be honest I just googled the site and I saw it’s some kind of group buy to let scheme ? But I don’t know anything about it to be honest

    All my place are on the HAP scheme .. one bad thing tho there is a 4 month waiting list on HAP processing new tenants so you do have to cover the mortgage yourself while the application is processed I have no problem with the HAP scheme or people that receive it .. I don’t know why some landlords do have an issue with it

    At the moment I roughly take in monthly

    4700 rent

    Mortgage is 3450
    House insurance 100
    Annual tax bill is about 12k (say 1000 a month )
    Solicitors fees 1500 a year
    Prtb
    Lpt
    Maintaince and repairs


    So basically I make zero in capital per month ( I did have to add money to the rent to cover the mortgage for a long time )

    Thanks for clarifying the total earnings and costs

    I think it’s interesting AMA minus the trolls

    I have two further questions

    Buying appliances, Repairing and maintenance, at what point do you write off appliances after having them looked at...
    When it comes to purchasing appliances, do you take care in the decisions or is it, any cheap thing will do
    How have you found with tenants looking after them?

    2nd question
    What’s your view on Airbnb...it seems that their is shift from moving from the private rental market to short term rents as a huge money saver and all in all less hassle.. do you see yourself going that way to pay the mortgage off sooner


  • #74
    dartboardio
    Registered Users, Registered Users 2 Posts: 2,436 ✭✭✭dartboardio


    Hilarious when people try to paint landlords all with a bad brush.

    There are way more harmful tenants in ireland, than there are landlords.


  • #75
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Slydice wrote: »
    Thanks!

    Do you have a preferred political party for doing landlord business?

    Do you think any of the politcal parties would bring changes to help you make more money than you currently do?

    Do you rank the rest of the political parties in how they affect your business? If you do, what are their rankings?

    What's the best political policy for landlords right now?
    What's the worst political policy for landlords right now?



    Is this question off-limits?

    Ha no I’ll do my best to answer you


    No I don’t think there is a best and worst political party for landlords .people say fg is the landlord party but they brought in the most taxes on landlords ..

    I could make more money if I wanted to 1 properly in particular is about 500 per month below market rent but the tenant in there is good and no hassle so I don’t want to raise the rent ..

    I think rents are too high at the moment I would like to see some changes , I would fear drastic changes as they sometimes make things a lot worse unintentionally ...


  • #76
    Jade2015
    Registered Users Posts: 37 ✭Jade2015


    OP,There is always some begrudger who begrudge someone who makes his or her living off something that they dont see as work/labour.
    Best of luck and thanks for your post.
    <snip>


  • #77
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Slydice wrote: »
    Thanks!

    Do you have a preferred political party for doing landlord business?

    Do you think any of the politcal parties would bring changes to help you make more money than you currently do?

    Do you rank the rest of the political parties in how they affect your business? If you do, what are their rankings?

    What's the best political policy for landlords right now?
    What's the worst political policy for landlords right now?



    Is this question off-limits?

    Sorry re this bit

    Do you discuss matters with other landlords? What do you think about other landlords? Are some sound, others not?


    I only know one landlord he was my ex girlfriends dad he urged me to get a rental place when I was 23 and he was a great help

    I do hear weird stories where landlord want to see payslips and go far too far, a scratch on the wall that will be your deposit gone ... all that is shameful behaviour


  • #78
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Jade2015 wrote: »
    OP,There is always some begrudger who begrudge someone who makes his or her living off something that they dont see as work/labour.
    Best of luck and thanks for your post.
    <snip>

    Hey jade , thanks for your kind words :)


  • #79
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    dartboardio wrote: »
    Hilarious when people try to paint landlords all with a bad brush.

    There are way more harmful tenants in ireland, than there are landlords.

    I know I had a bomb built in my garage from someone 🀦*♂️🀦*♂️


  • #80
    metricspaces
    Registered Users, Registered Users 2 Posts: 793 ✭✭✭metricspaces


    Better Than Christ wrote: »
    The term 'chip on your shoulder' implies that my views aren't rational. I simply find it nauseating when people are blind to their own privilege and feel aggrieved about paying tax on income. Especially when the amount of income depends not on their own labour, but on market forces.



    I'm doing nothing of the sort. At no point have I suggested that you did anything other than borrow the money to buy them. You're making yourself out to be some kind of martyr here and throwing the toys out of the pram when the questions aren't to your liking.



    And aren't you lucky you don't have to do that? As you said yourself, you hope to be able to live off solely off the rents within a decade. See, that's why I have no sympathy for the whole 'woe is me, I have to pay tax' side of being a landlord.



    No, but that's beside the point. I'm not judging you for deceiving a financial institution - I'm just saying it's a great privilege to have gotten away with doing so.

    Possibly you misjudged this and the point wasn't that tax had to be paid but it's the level of tax such a landlord must pay. In comparison to other forns of investment and other players in the rental market who pay a lot less taxes.

    He took a big risk. Risk takers who see their risk pay off reap the rewards. You come across as being envious. If you want some of the pie what's stopping you taking a risk?


  • #81
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    skinny90 wrote: »
    Thanks for clarifying the total earnings and costs

    I think it’s interesting AMA minus the trolls

    I have two further questions

    Buying appliances, Repairing and maintenance, at what point do you write off appliances after having them looked at...
    When it comes to purchasing appliances, do you take care in the decisions or is it, any cheap thing will do
    How have you found with tenants looking after them?

    2nd question
    What’s your view on Airbnb...it seems that their is shift from moving from the private rental market to short term rents as a huge money saver and all in all less hassle.. do you see yourself going that way to pay the mortgage off sooner

    Any appliance Breaks I get it replaced ASAP no point in fecking around with repairs they never last and it annoys the tenant ... I have had a washing machine in my house the past 14 years the seem to last about 4 years in a rental house ?????
    People always smash chairs ??? And then try to say it’s wear and tear I don’t get it

    AirBNb would be too much hassle for me I have my own 9-5 job also ...and the houses are paying for themselves now so I don’t need the hassle of short term lets


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  • #82
    Slydice
    Registered Users, Registered Users 2 Posts: 10,501 ✭✭✭✭Slydice


    Did you know the central bank does a report on mortgage arrears that includes Buy-To-Lets?

    Are your mortgages considered Buy-To-Lets?


    In the lastest report from the central bank: latest report link
    It says:
    • there are: 106,130 residential mortgage accounts for buy-to-let(BTL)properties
    • 14,744 accounts or 13.9per cent were in arrears of more than 90 days
      (outstanding balance on these accounts was€3.9billion)
    • Accounts in arrears of over 720 days numbered 10,861 or 62per cent of all BTL accounts in arrears
      (outstanding balance on these accounts was€3.1billion)
    • 48properties were taken into possession (16 by repossession)

    That looks to me like a huge number of landlords in arrears over 2 years at 10,861.

    I wonder if you understand it any better being in a landlord position?

    Would you hold on to some of your properties if they were arrears? If not, would you sell them down to try and figure it out?

    Can you think of any reason why holding onto a buy-to-let which is in arrears for more than 2 years makes sense to a landlord?

    What do you think of the number of repossessions? At two years in arrears, would it be better or worse to just rip the plaster off for a lot of these landlords?


  • #83
    Better Than Christ
    Closed Accounts Posts: 1,135 ✭✭✭Better Than Christ


    Jade2015 wrote: »
    OP,There is always some begrudger who begrudge someone who makes his or her living off something that they dont see as work/labour.
    Best of luck and thanks for your post.
    <snip>

    Hey jade , thanks for your kind words :)

    metricspaces wrote: »
    Possibly you misjudged this and the point wasn't that tax had to be paid but it's the level of tax such a landlord must pay. In comparison to other forns of investment and other players in the rental market who pay a lot less taxes.

    In terms of percentages, the level of tax (if I'm reading this post correctly) is not a million miles away from what gets deducted from my wages every month (between tax, PRSI and USC). It might seem unfair in the context of what larger investors unfairly get away with, but it doesn't seem punitively high as a tax on income - especially when you consider the ultimate rewards when the loans are paid off, etc.
    metricspaces wrote:
    He took a big risk. Risk takers who see their risk pay off reap the rewards. You come across as being envious. If you want some of the pie what's stopping you taking a risk?

    I'll tell you what's stopping me from taking a risk: I don't want 'some of the pie'. Because I'm not interested in pie. You know, it is possible to question or criticise something without jealousy having anything to do with it.

    "You're only jealous" is not a valid argument.


  • #84
    Muppet Man
    Registered Users Posts: 1,666 ✭✭✭Muppet Man


    Fair play OP... Balls of steel for a 23 year old. Really hope it works out for you in 9 years and you start to get some of it back. It was a massive 800k punt that could have easily put you out on the street.

    If someone said 15 years ago that it would be 16 years before your 800k investment would even start to cover its own costs, would you have done it?

    Great thread.

    Muppet man


  • #85
    lawrencesummers
    Registered Users, Registered Users 2 Posts: 8,617 ✭✭✭lawrencesummers


    I have this discussion with people sometimes who have been given the false impression that landlords are coining it, and some are but plenty are reluctant landlords and many more are putting a lot of time and money into an asset that they hope will provide a return down the road.

    I can give you figures that would scare you in relation to being a landlord and the people who are making the money off it are the banks first and foremost.


  • #86
    Febreeze
    Closed Accounts Posts: 190 ✭✭Febreeze


    What is your opinion on the HAP? And, why is is so hard to find landlords that will accept it? Also, what is your opinion on landlords raising rent after tenants living in their property after 10 plus years? I say, fair play to you owning these properties and renting them. The renting game is fierce these days


  • #87
    James Bond Junior
    Registered Users, Registered Users 2 Posts: 5,140 ✭✭✭James Bond Junior


    Great AMA, I am non resident landlord and even with the reduced tax rate that brings I barely make a profit. One plumbers visit or maintenance issue and the profit is swallowed.

    To the trolls who think being able to become a landlord is a privilege, you are dead right. It is a privilege to work hard, sacrifice, save hard to scrape together a deposit and put up with constant negativity from society.
    But... I will not be made feel ashamed or degraded for that privilege.


  • #88
    The J Stands for Jay
    Registered Users, Registered Users 2 Posts: 5,806 ✭✭✭The J Stands for Jay


    I'm a Landlord, AMA wrote: »
    Hi there,
    I’m not sure what REIT is to be honest I just googled the site and I saw it’s some kind of group buy to let scheme ? But I don’t know anything about it to be honest

    All my place are on the HAP scheme .. one bad thing tho there is a 4 month waiting list on HAP processing new tenants so you do have to cover the mortgage yourself while the application is processed I have no problem with the HAP scheme or people that receive it .. I don’t know why some landlords do have an issue with it

    At the moment I roughly take in monthly

    4700 rent

    Mortgage is 3450
    House insurance 100
    Annual tax bill is about 12k (say 1000 a month )
    Solicitors fees 1500 a year
    Prtb
    Lpt
    Maintaince and repairs


    So basically I make zero in capital per month ( I did have to add money to the rent to cover the mortgage for a long time )

    You're getting capital from the mortgage repayments every month.


  • #89
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Muppet Man wrote: »
    Fair play OP... Balls of steel for a 23 year old. Really hope it works out for you in 9 years and you start to get some of it back. It was a massive 800k punt that could have easily put you out on the street.

    If someone said 15 years ago that it would be 16 years before your 800k investment would even start to cover its own costs, would you have done it?

    Great thread.

    Muppet man

    Hi I don't know if I would do it again to be honest
    I was 23 and signed for a 807k loan I was a bit niave to be honest
    I had never experienced a recession or even thought about one
    we were all being told that property was going to go up and up and up


  • #90
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    McGaggs wrote: »
    You're getting capital from the mortgage repayments every month.

    state the obvious !! :D:D
    re-read what I said again


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  • #91
    Luimneach2018
    Closed Accounts Posts: 72 ✭✭Luimneach2018


    Have you noticed any particular changes in the general behaviour/characteristics of tenants between 2004 and now or is it largely the same?


  • #92
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Febreeze wrote: »
    What is your opinion on the HAP? And, why is is so hard to find landlords that will accept it? Also, what is your opinion on landlords raising rent after tenants living in their property after 10 plus years? I say, fair play to you owning these properties and renting them. The renting game is fierce these days

    HAP used to be great , you would get a tenant with HAP and the money would be in your bank account the following week , now there is a delay of 3-4 months getting a new application processed from them . so if a tenant moves in it can be up to 4 months before you get any Rent

    Also there are some landlord home insurance companies that charge higher rates if you are accepting HAP or RAS ..

    I have no problem with it but I did have to fund the mortgage for 4 months which given xmas ,my own mortgages etc wasn't fun


  • #93
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Luimneach2018 wrote: »
    Have you noticed any particular changes in the general behaviour/characteristics of tenants between 2004 and now or is it largely the same?

    Yep unfortunately I have , Tenants are like mice now they are afraid to mention anything in case they are asked to leave..., I noticed in one of my places the electric shower wasn't working .. the tenant told me they didn't want to annoy me over it .. I told her that a non working electric shower could cause a fire or worse and I needed to know when stuff breaks so I can put it right for them asap..


  • #94
    Boards.ie: Niamh
    Boards.ie Employee Posts: 12,597 ✭✭✭✭✭Boards.ie: Niamh
    Boards.ie Community Manager


    Please note I have removed a number of posts that were not part of the AMA - please stay on topic with questions for our landlord guest. Thanks.

    How can I? User's guide to some features on the new site



  • #95
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    What would you think of the doing away with the idea of housing as an asset? Limiting houses to say two per person or company?


  • #96
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    Deleted User wrote: »
    What would you think of the doing away with the idea of housing as an asset? Limiting houses to say two per person or company?

    I wouldn't agree with that at all .. Landlords bring in a lot of tax revenue and provide a service to the public .. Also its not easy to be a landlord you do need a big deposit up front and be prepared for the long haul and also have money to hand to pay tax bills etc


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  • #97
    spaceHopper
    Registered Users, Registered Users 2 Posts: 4,028 ✭✭✭spaceHopper


    Do you not get tax relief on the interest

    https://www.irishtimes.com/business/budget-2019-tax-cut-on-the-way-for-landlords-1.3657523

    I manage a house in flats for my mother and I agree you get tenants to telling you stuff is broken in the end it always causes more trouble for you. Hey may shower has been making noise its now stopped working can you fix it. Sure but I could have ordered new brushes for the motor now you need a new shower


  • #98
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    spaceHopper wrote: »
    Do you not get tax relief on the interest

    https://www.irishtimes.com/business/budget-2019-tax-cut-on-the-way-for-landlords-1.3657523

    I manage a house in flats for my mother and I agree you get tenants to telling you stuff is broken in the end it always causes more trouble for you. Hey may shower has been making noise its now stopped working can you fix it. Sure but I could have ordered new brushes for the motor now you need a new shower

    hi there,
    I had to laugh at that headline when i saw it last year . i remember a tenant even mentioning to me how FG were the Landlord party and how it was apparently another giveaway tax cut for the elite !!

    But in reality all it was , was bringing it inline with other industries .. in reality it was a saving of about 400 euro a year on an 807k mortgage …
    i am on a tracker of .75% so my interest is very low


  • #99
    BigPoppaDump
    Closed Accounts Posts: 48 ✭BigPoppaDump


    Other than being a landlord, whats your "real" job?

    Have you ever had a tenant proposition you with a bit of slap and tickle if they couldn't afford rent?

    Have you ever had a tenant make a claim from you through your insurance?


  • #100
    I'm a Landlord, AMA
    Company Representative Posts: 87 Verified rep ✭I'm a Landlord, AMA


    BigPoppaDump wrote: »
    Other than being a landlord, whats your "real" job?

    Have you ever had a tenant proposition you with a bit of slap and tickle if they couldn't afford rent?

    Have you ever had a tenant make a claim from you through your insurance?

    I work in IT
    No and No


  • #101
    Better Than Christ
    Closed Accounts Posts: 1,135 ✭✭✭Better Than Christ


    I'm a Landlord, AMA wrote: »
    I wouldn't agree with that at all .. Landlords bring in a lot of tax revenue and provide a service to the public .. Also its not easy to be a landlord you do need a big deposit up front and be prepared for the long haul and also have money to hand to pay tax bills etc

    They provide a service to the public in the absence of successive governments pulling their fingers out and doing so. The public avails of what is currently a highly expensive service because there's no other option. From the figures you posted, it seems as though you're more or less making ends meet, so it's not that difficult. Not right now, at least.

    But what happens to you and your rental properties in the (admittedly unlikely) event of the market swinging the other way and average rents dropping to a fairer and more manageable level for tenants? And aside from your own hypothetical predicament, would that be a good or bad thing for society as a whole?


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