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How long are you holding out for?

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    #32
    yankinlk
    Registered Users Posts: 2,735 ✭✭✭yankinlk


    Gurgle wrote:
    Ah bandwagons: invisible from the front, thousands of people hanging onto the back for dear life.

    Drop into a less-biased less-bearish forum for a different point of view and you might find this method as simply a tax efficient manner of investing in property.


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    #33
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    stovelid wrote:
    The problem with renting in Ireland is that you have zero rights as a tenant

    Not true. You have more rights than the landlord. For example, once you've been in the property for 6 months, you can automatically stay there for 4 years.


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    #34
    iguana
    Moderators, Entertainment Moderators Posts: 12,916 Mod ✭✭✭✭iguana


    dublindude wrote:
    Not true. You have more rights than the landlord. For example, once you've been in the property for 6 months, you can automatically stay there for 4 years.

    Unless the landlord wants you out because they wish to sell or use the property as a residence for themselves or a family member.

    Most tenants also have no rights as far as redecoration or pet ownership is concerned. And also it is extremely difficult to rent unfurnished and I for one never want to live in a place where I get to sleep on the 5 year old cheapest bed in the Argos catalogue again.


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    #35
    antoinolachtnai
    Registered Users Posts: 9,788 ✭✭✭antoinolachtnai


    The residential tenancies act makes it effectively impossible for a landlord to enter a lease longer than 4 years without greatly prejudicing their rights. A ten-year term for example, would only be binding on the landlord, not on the tenant, so the landlord has no advantage in entering such an arrangement unless the tenant is paying a big premium.


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    #36
    patrickolee
    Closed Accounts Posts: 890 ✭✭✭patrickolee


    iguana wrote:
    Unless the landlord wants you out because they wish to sell or use the property as a residence for themselves or a family member.
    Or if the landlord wants to paint the place. Tenants have bugger all rights, very easy for a landlord to turf them out if they want to.


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    #37
    stovelid
    Closed Accounts Posts: 27,252 ✭✭✭✭stovelid


    dublindude wrote:
    Not true. You have more rights than the landlord. For example, once you've been in the property for 6 months, you can automatically stay there for 4 years.

    Damn, are you saying that I could have forced my last landlord (the one who wouldn't let me redecorate unless he approved the scheme, wouldn't let me keep cats and who's rent increases regularly defied market logic) to let me stay another 4 years?

    What a missed opportunity. ;)


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    #38
    A Random Walk
    Closed Accounts Posts: 346 ✭✭A Random Walk


    yankinlk wrote:
    Better yet, do it interest only - use the money that would have paid off capital to diversify into other investments that earn more than the interest you are paying on the mortgage.
    You must have missed the news about the credit crunch that is ongoing. The 5/6 year period of silly loans (e.g. 100% interest only over 30 years) is coming to an end.


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    #39
    yankinlk
    Registered Users Posts: 2,735 ✭✭✭yankinlk


    coming to an end? really? how about more like reducing the amount allowed to borrow - which should be no bad thing as prices of houses are coming down anyways.


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