Im a 51 year old in the country with an apt in Dub.Im 15 years into a 30 year mortgage.The apt is only just out of neg equity almost 100000 less than paid for.The rent covers the mortgage but the letting fees building management fees and the whopping 50% tax I have to pay on rental income means I pay around 5500 every year on somewhere I dont even live!!
Could someone give me their opinion on this . A mate told me to claim furniture repairs to keep the tax down but Im scared Ill be hit with even higher bills if Im caught doing this .Should I sell now and cut my losses ? Is there any point in prolonging this ? With a recession lining up post covid will property prices start to plummet again?
Any advice would be really appreciated
Thanks in advance