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Renovate for no rent

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  • 07-10-2022 7:09pm
    #1
    Student Accommodation
    Registered Users Posts: 5 ✭


    I spotted a property in need of renovation not repair. Suit 3 students in Limerick city centre. If one agrees a value of renovation with owber and move tenant/ student in rent free until value used up.

    Could work for builder or handyman with kids in college.

    What you think?

    Post edited by Student Accommodation on


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    #2
    Flinty997
    Registered Users Posts: 12,098 ✭✭✭✭Flinty997


    Smacks of desperation.



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    #3
    Student Accommodation
    Registered Users Posts: 5 ✭Student Accommodation


    Possibly. But would it work?

    So many looking for accommodation, so many houses in disrepair and many owners unable to bring them up to standard.

    Would it be a win win?



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    #4
    Kaisr Sose
    Registered Users Posts: 3,256 ✭✭✭Kaisr Sose


    The concept of bater is fine but what about the requirement for all rental property to be up to a minimum standard?



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    #5
    Bass Reeves
    Registered Users Posts: 18,545 ✭✭✭✭Bass Reeves


    Yiu would have to agree a steep discount on the rent as it would be paid up front by the person doing up the building. Remember as well they people in the house will have to live there while the repair is going on

    What level of work is required. Is it painting and decorating only or is there plumbing, electrical and construction as well.

    Slava Ukrainii



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    #6
    Student Accommodation
    Registered Users Posts: 5 ✭Student Accommodation


    True...but could work in certain circumstances if house not too bad. Clearly if house derelict this would not be an option. And you are correct, minimum standards would need to be met.

    These houses are sitting there while people struggle to find accommodation.

    There must be some way to utilise these stock of houses.



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    #7
    Student Accommodation
    Registered Users Posts: 5 ✭Student Accommodation


    I looked at two and they were "old fashioned" looked like elderly persons lived there previously. But like someone said...minimum standard would need to be met.



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    #8
    Flinty997
    Registered Users Posts: 12,098 ✭✭✭✭Flinty997


    https://www.boards.ie/discussion/comment/119716094#Comment_119716094

    A builder doesn't need any help from anyone else to do this. If they aren't doing this already it's not viable for anyone else to do it.

    LL are getting out of the market with properties already rented and up to standard. If they feel is not worth it I think it's worth considering why.

    What you need to is work out the numbers then add a third extra for unexpected costs. Getting into an old property you may end up finding there's all sorts of unexpected problems. Usually eye wateringly expensive.



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    #9
    Student Accommodation
    Registered Users Posts: 5 ✭Student Accommodation


    Thanks for that. It makes sense. Eye watering expense indeed.

    I have secured house room for one in Cork but other one is commuting to college in Limerick. Lucky they have a car pool going but still not ideal.

    Thanks for your advice. It's so tough out there.



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