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Rent increase, thoughts

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    #92
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    TheOldHand wrote: »
    Ha I have you again. Caught you pretending to know stuff. It is a requirement to have insurance if you have a mortgage.


    http://www.moving.ie/mortgages/insurance.asp

    got me how. Jesus can you not read ? Where have I said you dont have to have insurance if you have a mortgage.

    Maybe I need to type words with less syllabils so you can comprehend what Im saying.


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    #93
    TheOldHand
    Banned (with Prison Access) Posts: 91 ✭✭TheOldHand


    BTW boys and girls its a lot more expensive than standard insurance. €2K might be expected if you own in a particularly desolate and crime hit ghost estate.

    http://www.askaboutmoney.com/showthread.php?p=922502
    Another one!


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    #94
    Maximus_1
    Registered Users Posts: 194 ✭✭Maximus_1


    In my case the LL turned down a tenant offering the going rate for the house (500) before we moved in, his reasoning was he'd rather leave it empty than have people in there he didn't think would look after it properly. This was 13 months ago. Our previous house and LL were both inferior to the one we have now by some distance. Those houses you mentioned earlier we could get for 400,I probably could, I could get one for 300 but don't want to live near the local small time drug dealers.


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    #95
    BostonB
    Closed Accounts Posts: 18,056 ✭✭✭✭BostonB


    It make no sense to insure a debt of 100k+ for 2k. Renting a place out for 100 is just a means to make a large debt into an even bigger debt.


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    #96
    Victor
    Registered Users Posts: 78,365 ✭✭✭✭Victor


    TheOldHand wrote: »
    D3PO is sick from earlier I bet.
    Guys, knock it off.

    Constructive posts only please.

    Moderator


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    #97
    murphaph
    Registered Users Posts: 19,018 ✭✭✭✭murphaph


    TheOldHand wrote: »
    If you left the house empty then you would have a lot more maintenance costs, still have property taxes, insurance issues and security issues. You are getting a house sitter in and covering some of your costs. D3PO is sick from earlier I bet.
    There is a huge risk in that your "house sitter" may decide not to leave when you want them to. Then any savings you made by having them there will be wiped away by your barrister's cheque.

    I wouldn't let a property in those circumstances. I'd board it up and give it a blast of a space heater now and then to keep it dry.


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    #98
    murphaph
    Registered Users Posts: 19,018 ✭✭✭✭murphaph


    TheOldHand wrote: »
    Do you know how much house insurance is for an unoccupied house?
    Depends on the insurer and the value of the property and where it is etc.

    We own a semi derelict property that still has its roof and walls and we intend to renovate some day, so we insure it against loss by fire. It's insured at reasonable cost (it's part of a larger insurance policy, so can't say exactly how much but I believe no more than €400). The insurance company sent someone out to take a look because it's unoccupied.

    The key to getting the premium reduced is to go with an insurer that routinely insures unoccupied buildings (think farmers outbuildings...who would farmers go to for insurance?).

    You also have to shut off the water and drain down any water from the system and you have to exclude water damage from burst pipes from the coverage (no problem, once you do as above and make sure the pipes are empty). You then remove any contents you can and leave the bare minimum and exclude contents cover. You can get the cost of insurance for a mothballed property right down tbh.


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    #99
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    djimi wrote: »
    You are spectacularly missing the point. He wasnt doing him a favour, but have you any idea how many landlords out there do not respond to issues in any kind of timely fashion? Have you any idea how many utter cowboys there are out there playing landlord? The OP has found themselves a good one; they could take the chance of moving to a different property but they risk ending up dealing with a cowboy. Or, as they have done, they have decided that its worth €20 a month to continue dealing with one of the good guys.

    That goes both ways. The landlord has lucked out with Max as a tenant too. I am a landlord and there's no way I'd be hitting good tenants with 12% increases when they are completely out of line with market rents. Now if I wanted to get rid of them...
    Ritchi wrote: »
    TheOldHand sounds like someone that would queue up for a few hours to save himself a euro or two.

    Yeah, maybe he could have got it cheaper, and maybe he should have moved, but he reached an agreement that suits both parties, and has reduced the stress, time and effort involved in it.
    No offence intended but if you travel a bit, you'll discover that most nationalities know the value of money and will go the extra mile (or km) to ensure that it stays in their pocket. Irish people used to be like that too until the septic tiger came along.
    BostonB wrote: »
    You'd lose less money leaving it empty.
    Depends. An unheated and unaired property will quickly fall into disrepair.


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    #100
    BostonB
    Closed Accounts Posts: 18,056 ✭✭✭✭BostonB


    gaius c wrote: »
    ...

    Depends. An unheated and unaired property will quickly fall into disrepair.

    Haven't had that experience. Had houses that were unoccupied for 6~12 months at a time and they were fine. Check on from time to time, that was about it.


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    #101
    Ritchi
    Registered Users Posts: 319 ✭✭Ritchi


    gaius c wrote: »
    No offence intended but if you travel a bit, you'll discover that most nationalities know the value of money and will go the extra mile (or km) to ensure that it stays in their pocket. Irish people used to be like that too until the septic tiger came along.

    I have travelled a bit, thanks.

    I tend to analyse whether something is worth the time and effort. I will not queue up for a few hours to save a few quid, as I feel my time is worth more than that. I earn a lot more than a few quid an hour, and I value my free time a lot more than that too.


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