Selling apartment in RPZ when rent 'cheap'

whatnext

Fian wrote: »

I am sorry to be the bearer of bad news. There is a misunderstanding about the "2 years out of the rental market" issue. If an apartment is taken off the rental market for 2 years it remains subject to rent control based off the last rent. How this could possibly be enforced or policed is another issue entirely of course.

The misunderstanding comes from the new section 19(5):



So if the appartment had not been rented in the two years prior to the RPZ being set (ie in the years 2015 and 2016) the RPZ legislation would not apply. Interestingly it would not apply even after the first year's rent - you could increase rent up to market rent. Presumably that was not intended, but maybe it was a deliberate choice to encourage new appartments onto the market.

So taking something off the market now for 2 years has no impact on whether the RPZ limits apply. If it was not rented in the 2 years of 2015 or 2016 then the RPZ limits will not apply to it even after the first rental. It is the two years before the area became an RPZ that are crucial, not the two years before the next tenancy.

Well thats a pretty serious kick in the teeth you have delivered.

Either way, I'm in AirB&B now for the medium term, and to be honest its pretty painless.
I've also picked up a handful of corporate short term lets and I think this is the route i'm ultimately heading down once I've double checked everything with the accountant. All in all I only need to keep the place occupied 3 days a week to be better off even with increased costs, and with a few 1 week airb&bs and a few more 2 to 4 week corporate lets I can actually see a business. I suspect a bit more capital gains to come and once I hit that sweet spot I'm gone, and I suspect that will be a lot easier without sitting tenants also.

LMFM

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OP again - many thanks for the additional comments on this - really appreciate the time people are taking to advise / tell me of their experience!
76544567 - Do you mind if I ask you a few more questions please? Had you tenants prior to AirBnB? Do you have a management company and did they 'ok' or care about the AirBnB element? ( Can PM if easier!) Thanks again!

jamesthepeach

whatnext wrote: »

Well thats a pretty serious kick in the teeth you have delivered.

Either way, I'm in AirB&B now for the medium term, and to be honest its pretty painless.
I've also picked up a handful of corporate short term lets and I think this is the route i'm ultimately heading down once I've double checked everything with the accountant. All in all I only need to keep the place occupied 3 days a week to be better off even with increased costs, and with a few 1 week airb&bs and a few more 2 to 4 week corporate lets I can actually see a business. I suspect a bit more capital gains to come and once I hit that sweet spot I'm gone, and I suspect that will be a lot easier without sitting tenants also.

Im having to move out of where i rent because the landlord wants to do airbnb. He would have been ok with renting it were it not that he is stuck below market rent now, so he's getting out and doing airbnb. The upshot is that I'm out.

I own a property myself in Dublin that I've decided to ask the tenant to leave and live in it myself for a short while now. As soon as i can get another place l where i work at the moment i think I'll use airbnb too for my apartment in dublin instead of a normal rental because that's below market rate too and it's like a mi efield being a landlord now.

I would be grateful if anyone who knows agents in Dublin that run the airbnb, or whatever short term let's for you would get in touch. I'll be needing them in a few months time.