Letting Property to a REIT

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Well the deal is done soon can talk about it now.

At the suggestion of two different agents I spoke to, finally instructing.one of them to act on my behalf, I have rented my remaining apartment to a reit believe it or not.

There are some legalities to be signed off before the handover, not to mention the tenant still is to move out first, but it is all easy enough from my side. No more rtb or risk of bad tenants for me. I rent to the reit for a fixed term and they sublet to whoever they like, for as long as they like. At the end of the term I renew or they give it back to me cleaned, painted, repaired etc.
It doesn't have to be a reit either. The agent had other companies and agents looking to take it.
You probably don't even have to have an agent as a middle man, but I said I'd go for it that way to start.

I advise anyone here who is not happy with the current situation to check it out. I also have my other property rented to a multinational company which I'm very happy with too.

I definitely don't want to do regular let's, so was all for Airbnb, but now even Airbnb is looking like becoming a pain.

LuckyLloyd

Fine by me, REIT or no REIT it's a residential property converted from short term to long term within the auspices of the RTA.

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LuckyLloyd wrote: »

Fine by me, REIT or no REIT it's a residential property converted from short term to long term within the auspices of the RTA.

But not for me to deal with the RTB, which is the main thing I was after.
I believe the REIT are only going to do short term lets or company lets, but I dont really care what they do tbh.
If they do do long term, the REIT can absorb any troublesome tenant and dealings with the RTB. I cant.
REIT pays me every month no matter what happens with their tenant.
It works for me, so im going with it.

TSQ

__..__ wrote: »

Well the deal is done soon can talk about it now.

At the suggestion of two different agents I spoke to, finally instructing.one of them to act on my behalf, I have rented my remaining apartment to a reit believe it or not.

Mind me asking where approx. your place is located (D1, D2 etc?) and which agents you found were best for this type of let - am assuming only the bigger agencies will have these contacts.

Having had a bad experience with long term tenants, I would be interested in handing the risk to another entity and accepting a lower rent in return.

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TSQ wrote: »

Mind me asking where approx. your place is located (D1, D2 etc?) and which agents you found were best for this type of let - am assuming only the bigger agencies will have these contacts.

Having had a bad experience with long term tenants, I would be interested in handing the risk to another entity and accepting a lower rent in return.

Mine are in North Dublin .
The mod keeps deleting my posts in this thread every time I mention how to do it or even to pm me for details. Doubt this post will last long either so hope you read it in time before he deletes it.
Who you want to contact are wealth management agencies. They will have the details for you. I won't post who in went with in case I get accused of being a shill.

TSQ

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Mine are in North Dublin .
The mod keeps deleting my posts in this thread every time I mention how to do it or even to pm me for details. Doubt this post will last long either so hope you read it in time before he deletes it.
Who you want to contact are wealth management agencies. They will have the details for you. I won't post who in went with in case I get accused of being a shill.

Did see your post and have pm'd you, hope you get it. Interesting, as my property also in North City, was not sure north city would be of interest to corporates. Thanks for the suggestion and worth looking in to.

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Hi guys
So many pms I can't answer them all, so I'll just say here to contact a good wealth management company and they will tell you what to do with your property and will have plenty of contacts and options for you. You will have pay them for the pleasure though.
Don't invest your money in Lithuanian shopping centers though like bono

Graham

__..__ wrote: »

Mine are in North Dublin .
The mod keeps deleting my posts in this thread every time I mention how to do it or even to pm me for details. Doubt this post will last long either so hope you read it in time before he deletes it.
Who you want to contact are wealth management agencies. They will have the details for you. I won't post who in went with in case I get accused of being a shill.

Mod Note

No problem with you making legitimate suggestions for landlords letting property although as it's not AirBnB related I've split the last few posts into their own thread.

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Graham wrote: »

Mod Note

No problem with you making legitimate suggestions for landlords letting property although as it's not AirBnB related I've split the last few posts into their own thread.

Ah I give up.
It's a direct result of the new Airbnb rules and that's why I started that thread and posted my experiences. You keep interfering with my posts, by just deleting them and now moving them around so they get lost.
Well you get your way. I'm out.

badbeatcentral

the REIT aren't doing this for the good of their health.. How much of a haircut are you taking on market rates?

quadrifoglio verde

As the reit are going to subletting, do rpz rules apply?

dubrov

The REIT must be taking a sizable cut.
You are in the wrong game if you want to outsource all the risk.

You'd be better off selling the apartment and buying shares.

hawkelady

Why are his posts getting taken down or moved. What's the issue with the poster giving details on how to rent your properties to REIT ??