Your Questions Answered: ‘The rent from a flat I let no longer covers my mortgage. Must I sell?’

Q I have a two-bed apartment in Dublin that I bought during the Celtic Tiger with a tracker mortgage that’s 1pc over the ECB rate. The property is in a rent pressure zone and the monthly rental income is €1,500. With rising interest rates, this rental income barely covers my monthly mortgage repayments and my management fees. I had always planned to use this property as a pension but I’m now considering selling altogether. What should I do?

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