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Nuisances of being a Landlord

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    #32
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    johnp001 wrote: »
    From today's Indo
    'Renting our apartments has been a window into the worst of human behaviour'

    Interesting....
    "I bought my apartment in 2005 for €335,000. If I sold it tomorrow I'd be lucky to get €250,000 for it."


    "My wife, before we met, bought hers for €299,000. Similar properties are selling now for around €170,000."

    "
    Located in the property hotspots of Dublin, they are on course to become valuable assets which one day may even help fund a house purchase in Sligo.

    A happy ending could finally be in sight."

    They are quite likely over the worst of it imo, I'd hang in there until the mortgages are cleared if I could, especially if renting in Sligo for €650/month


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    #33
    Santa Cruz
    Banned (with Prison Access) Posts: 3,126 ✭✭✭Santa Cruz


    Augeo wrote: »
    Interesting....
    "I bought my apartment in 2005 for €335,000. If I sold it tomorrow I'd be lucky to get €250,000 for it."


    "My wife, before we met, bought hers for €299,000. Similar properties are selling now for around €170,000."

    "
    Located in the property hotspots of Dublin, they are on course to become valuable assets which one day may even help fund a house purchase in Sligo.

    A happy ending could finally be in sight."

    They are quite likely over the worst of it imo, I'd hang in there until the mortgages are cleared if I could, especially if renting in Sligo for €650/month

    Good advice. There is a bit of a pschological thing with prices following introduction of the property tax bands. Apartments that are approaching say 300 thousand in price seem to stay below the 3 mark for some time but then once one sale breaks the 3 mark its open season. I would certainly bide my time as prices in Dublin are rising albeit slower than expected


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    #34
    cerastes
    Closed Accounts Posts: 3,601 ✭✭✭cerastes


    athtrasna wrote: »
    If more than 20% is due. Rental income is now also subject to USC and rental income is also subject to income tax thresholds. Depending on the landlords ' other income they may owe more.

    I was talking about if the landlord is not resident in Ireland, are you?


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    #35
    sunnysoutheast
    Registered Users Posts: 2,072 ✭✭✭sunnysoutheast


    cerastes wrote: »
    I was talking about if the landlord is not resident in Ireland, are you?

    Higher-rate income tax bands and USC still apply to non-resident landlords. PRSI doesn't.

    In any case a landlord would be crackers to allow a tenant to deduct 20% of the gross and rely on them handing over the withheld 20% (in my opinion of course). If they just foxtrot oscar with the money the landlord still gets chased.


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