Hi, I am interested in buying an apartment which has a spacious living room which could be split into smaller living room and bedroom. Is there anything I should be conscious of? Thanks.
You actually have a long lease when you buy an apartment and the terms of the lease will probably say that structural alterations have to be approved by the Owners’ Management Company (OMC).
Yes. Don’t do it.
I’m more likely to buy a two bedroomed apartment with a decent living room for a given value of decent, something which isn’t common in houses or apartments in Ireland anyway, than I am to buy a three bedroomed apartment which has a poky little living room and a tiny bedroom that was siphoned off from a previously reasonable living room.
Also, per previous poster, you’re probably not allowed anyway.
Is this for ‘pack em in’ rental reasons?
I think we had enough of that in the ‘Pre 63’ days. No modern living room, however spacious, could yield up a bedroom and remain anyway decent in size or functionality - certainly not an improvement to the asset in any event and morally, if not legally, dubious.
Buy bunk beds for the two rooms you might have - much easier!
I always wondered what happens when an apartment building gets knocked down: is each owner entitled to a share of the land? Would it be based on the floor area owned, or an estimated value of each person’s apartment, or something else?
In theory it should be vested in the management company and:
- if sold to be redeveloped each owner will have their lease bought out and take their share of the mgmt co
- if accidentally destroyed insurance co will pay for the rebuild;
- after 30 years or so, management companies should have enough of a sinking fund to pay for the rebuild, otherwise land would be divided according to memo and articles of association or else divided equally among the members like any liquidation.
A more difficult problem arises when a management company goes bust and sells the land to pay its debts.
thanks, family needs are the reason behind the conversion. does it mean that the property management would need to approve such a conversion? what if they are not informed of this?
I don’t think I’ve ever been in an apartment in Ireland where this could be done.
One other thing to bear in mind is the fire aspect of building regulations. You may need a new fire cert for the apartment (increased travel distances, inner rooms, sizing of escape windows etc)
actually I’ve seen internal walls moved in an apartment- the stud walls are not structural. So it may be possible
Not sure about fire regs etc though
What about splitting all the rooms horizontally, and doubling the floor-space (or nearly, of course you’ll leave the stairs as they are) and the number of rooms? people spend most of their time sitting and sleeping, so there’s not much need for all that headroom