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Many homeowners are now opting to let rather than sell their properties due to the current conditions in the housing market, according to local auctioneer Yvonne Mullaney.

Green Door Properties are property letting and management specialists who offer a professional lettings and management service to all commercial and residential property owners.

Fine Gael senator John Paul Phelan has warned that the current reporting of mortgage arrears is masking the true picture of how many people are struggling to make payments.

Mayo County Council can and will terminate the contracts of landlords with whom they have entered into agreements under the Rental Accommodation Scheme, if the landlords fail to live up to their obligations to stop their tenants from engaging in antisocial behaviour.

“My Party has consistently argued that we need a 24-month moratorium from the time that mortgages first go into arrears, before repossession proceedings can be taken, where a borrower makes reasonable efforts to meet their obligations to pay the mortgage on a principal private residence,” stated Dáil Labour candidate Ann Phelan.

The amount of time involved in letting and managing a property can be underestimated, and while cost savings are at the forefront of everyone’s mind not using a reputable letting agent can in fact be cost detrimental.

Following on from a very successful April, Dee Gibney Properties are seeking new properties for rental in Kilkenny.

There is good news for mortgage holders from the Financial Regulator, according to Minister for Labour Affairs Dara Calleary.

Landlords and residential property investors are finding the rental market more challenging in recent months with rents in some locations falling by approximately 10 per cent. While this is bad news for landlords, it is good news for tenants. There is still good activity in the rental market with many would-be property purchasers staying in the rental market. However supply of rental property has increased as those vendors who cannot currently sell are deciding to rent as an alternative.

With the banking crisis deepening and first time buyers delaying entering the property market because they either can’t get mortgages at present or they think it is more prudent to assess the economic situation further before taking the leap, the good news is that rental prices are decreasing in Mayo.