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Apartment for sale but part of pooled rent arrangement

  • 29-08-2024 6:08pm
    #1
    Registered Users, Registered Users 2 Posts: 624 ✭✭✭


    Anyone have any experience with this situation? The only thing I know of is someone who backed out of an apartment purchase (for owner occupation) on their solicitor's advice, after they discovered that it was a rental pool setup.

    Some apartments I've come across for sale that are part of a pooled rent scheme can apparently be purchased for rent OR owner occupation. If the latter, does that not terminate the pooled rent clause or does it just pause things until the apartment is ever rented again in the future?

    I'm guessing the advantage of the pooled rent scheme is if you want to be a landlord but not have the hassle and expenses of dealing with issues. Presumably any expenses incurred are combined for all the apartments and the total net profit distributed across the group of landlords involved. So you'd effectively just be getting your net income paid at the end of the month or year.



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