Tenant has offered to pay market rates to stop me selling property in rent pressure zone. What can I do?The tenant is planning to retire abroad in a few years and doesn’t want the hassle of moving house. Photograph iStockOur tenant is paying about 70 per cent of market rent due to being in a rent pressure zone . , and have served an eviction notice. The tenant has offered us full market rent, an increase of more than 40 per cent, if they can stay in the house for another three or four years.
Marcus O’ Connor is a chartered surveyor and member of the Society of Chartered Surveyors Ireland. Photograph: Andres Poveda One of the other unintended consequences of this legislation is that the capital value of the property is also affected. In many cases when a property is placed on the market in an RPZ, it excludes investors as a potential buyer as there is no real value in the property for them. That said, one could make the point that this means other types of purchasers such as first-time buyers may not have to compete with investors when looking at certain properties.
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Source: IrishTimes - 🏆 3. / 98 Read more »