Rental Costs - Unreal!!


#1065

This is obviously in the USA but there are so many similar themes running across ‘western’ countries for the past 20 years

bbc.com/news/world-us-canada-46157667

Plenty of millenials with issues renting in any so called wealthy country


#1066

Sindo


#1067


#1068

Perhaps if Mr Scully’s company paid a realistic amount of tax, the city/country could afford to spend some money on social housing, which would reduce pressure on the private sector, and thus lead to lower rents.
But the reality is that this type of company is probably much more interested in not paying tax, and the platitudes expressed about employees having a “good experience” are just so much hot air in today’s globalised economy.


#1069

It’s up to the govt tonset tax rates and to actively build more apartments.

At the same time I do think these tech companies could band together and develop large scale projects . However that would still push the price up overall most likely.


#1070

IDA plays down rental crisis with ‘€1,000-a-month’ apartment claim to multinationals
IDA advises to tell prospective investors that housing shortage was ‘not unique to Ireland’
to stress to companies that monthly rents in Dublin were ‘still competitive by international standards’
whilst RTB says standardised average rent for Dublin stands at €1,587pm


#1071

This was probably inevitable given the risks some landlords face when they let to tenants who don’t pay rent, don’t leave when their lease is up and then thrash the place.

irishexaminer.com/breakingn … 97105.html
Landlords are seeking extensive amounts of personal information, including PPS numbers, photo ID, and access to would-be renters’ social media accounts before they can view a potential rental property.


#1072

Good analysis, 1 of 4
**Supply & Demand is a four-part podcast about Dublin’s housing crisis.
I made this podcast because the situation in Dublin is affecting us all.
From homeless shelters to high-end rentals, there’s problems everywhere you look. I talked to dozens of people – politicians, activists, academics, journalists, industry experts, community organisers – in an attempt to discover the causes of those problems. **
dublininquirer.com/2019/02/06/s … -episode-1


#1073

Median rental price on daft.ie of a one-bed Dublin apartment just hit a new high.


#1074

Latest Daft rental report from Ronan Lyons shows lowest rental supply in Dublin ever. Tens of thousands of rental properties are needed. One the up (?) side, prices in Dublin are “only” up 4.1% while other parts of the country are running at over 10%.

https://www.daft.ie/report/ronan-lyons-2019q1-dafthouseprice


#1075

For our return to Ireland from England we had been really dreading finding a rental in Dublin, but as it turned out we seem to have got lucky. Viewings were busy but having chatted to other viewers it seemed a lot were just tyre kicking, in the end we got first refusal on all we applied for and found one walkable for her job.

Our one big gripe is lack of unfurnished options, but thankfully storage where we are in England is very cheap compared to all storage options we have looked at in Ireland. We have a plan to buy in the next few years and are in no hurry so happy to rent while prices soften.

The strangest aspect though was listening to our rental agent complain about the amount of paperwork now involved compared to the past, one would almost swear it was business.

The rental pressure zone is good to have as we know we don’t have to worry about a massive rent hike, our only concern really being the owner choosing to sell.

There seemed to be loads of properties that were both for sale and for rent at the same time. Probably a lot of boomtime landlords trying to offload. I won’t be surprised that once price falls become accepted reality there’ll be a rental glut.

There were a good few dopey letters who’d advertise “must let now” who were shockingly bad at getting back to us, we even got one reply two weeks after viewing telling us we’d been accepted and asking if we could move in ASAP.

Aside from the lack of unfurnished it wasn’t as bad as I feared.


#1076

Just looking at the Pretty Charts Thread graphics (https://bl.ocks.org/pinsterdev/raw/234b4a5310a14a32e080/) for rental volumes I can see the strange thing that I noted in Q3 of 2018 continuing into Q4.

There are normally steep dips in availability in Q1 (post January) and Q3 (post June) (see the 2016 and 2017 graphs). This didn’t happen in Q3 last year and again it has happened in Q1 this year. So in Q1 2016 the figures (all rentals) for April and May were 1140 and 937, in 2017 1045 and 1024, in 2018 1010 and 995. In 2019 1235 and 1232. You can see a similar pattern for the Sept/Oct figures into 2018.

I was curious about this before and it seemed that the new student accommodation was a possible explanation - I think that might explain a Sep/Oct change but I don’t think it could explain Apr/May unless students felt they didn’t need to hold over the summer. It also runs counter to the ‘landlords are getting out of the business’ mantra - although I see evidence of it as I pass through Rathmines these days - a lot of landlords must be realising that they missed an opportunity in the last boom and there is a lot of ‘fear of missing out’ this time around. I really doubt that there are any significant capital gains left in the Dublin market. I certainly hear continuing complaints about rent levels from people at work but availability seems to be less of a topic.


#1077

At one point in Australia when a parent was Ill I had sold everything here and was readying a return to Ireland. Rents played a huge role in not coming back. If I had enough saved at the time I would have been able to buy a house in rural Ireland but timing was against me


#1078

I’d say time is coming back in your favour. For what it’s worth there hasn’t been a day since I left Australia that I’ve missed it.


#1079

@catbear Interesting to hear of your recent experience. Any idea if any of the places you viewed would have been ex-AirBnB places which might now have to be brought back onto the market? I think they still have a month before the new regs come into force so probably too early to see if that results in much of an increase in availability.


#1080

Well last year we needed a short term let in Dublin for four months, so we hit AirBnb and negotiated a rate cheaper than an annual lease on the advertised rental market!

Their apartment was a boom time purchase that was still in negative equity in south county Dublin. They had been trying to sell it for the previous two years without luck and used AirBnB to cover it, but they were fed up with the hosting business so were glad to get a four month break from constantly having it ready.

I’m not up on the current regs regarding them, we’re actually currently packing up in England. God I hate this part of moving, but on the plus side I’m looking forward to returning, I’ve missed way too much family stuff over the last decade away.


#1081

I was renting out a house short-term; it was surprisingly difficult to get a proper short term tenant;

it seems no ne wants to go through the torture only to have to do it again 4/5 months later; eventually we found a nice family who were moving/renovating


#1082

Well it’s aside from the odd work placement gig and renovation replacement the short term demand would never be that big.

Conversely where we are in north England short term leases are actually quiet common. It’s an extremely soft rental market, the house next to us sat empty for six months. It’s such a renters market that they can afford to be choosy so venders are being very accommodating.


#1083

The Opus building on Six Hanover Quay is in the heart of the docklands in an area that’s quickly becoming known as Google Town

Located across from the Bord Gais Energy Theatre, an average two-bed apartment will be rented for €3,700.

Opus is launching the 120 apartments this week, with a quarter of the units already pre-let to a mix of individual and corporate tenants.

Link


#1084

The professionals have landed :slight_smile:

Going forward tenants will be able to avoid the mcCanny Landlord and seek solitude in the arms of professional landlords.