Rents at record levels

Well as a landlord maybe we finally might get regulation where rules are set in stone
“if tenant doesnt pay rent in X days then they are out”

This alone would help reduce alot of the risks which are now increasing rents and deposits becoming multiples of standard one month rent. Never mind all the new taxes piled on by the government which are being passed onto renters…

Yay! Yet more reasons to bring children up in this basket case of a country!

The bursting of the rental bubble will be driven by one thing only - rounds of redundancies.

Whenever more accommodation is built? and/or taxes and hidden charges lowered?

When will any of that happen is the real question

Or another great depression driving people out of the country…

It’s a dire situation.

What do you think yourself? I’m not seeing anything imminent. … -time-sin/

There’s plenty that could have been done to avoid this, but Noonan wanted get prices “up another bit”.

Well those banks have to be “recapitalized” somehow and NAMA has to appear to be a success. So that might explain politicians sitting back and doing nothing, most are on holidays now arent they?

This is why I left Ireland.

One of the best decisions I ever made.

I am now a home owner, walk to work and pay 20% of my income on my mortgage.

A life that was unimaginable 12 months ago. The hopelessness, the despair, the waste (time and money) for ordinary workers in Ireland is truly depressing.

What investors? the banks are not giving out BTL mortgages, I have not heard of anyone getting them in about 7 years now. Seems the quoted rates are also quite high (even tho yields seem high). And of course the tax implications are not good. The last investment properties i bid on (from NAMA) was all cash, with us being outbid by people who wanted these places as their primary residence. I am still looking after many months and dozen of bidding wars.

Could be that some large institutional investors aren’t as well run as you would like to hope? I’ve heard a few people discussing how some are being quite prudent, whereas others are splashing the cash as if the boom will only ever get boomier.

Personally I wouldn’t be surprised if we veer into an overcorrection in the next decade - although with so many competing VIs, predictions are a complete mug’s game.

Oh they are being prudent (i aint looking for loans anyways) and still have on monthly basis properties coming for sale from repos from BTLs, now when this stops is when things will get really interesting.

This was exactly my point. Employment levels and job confidence is what makes the Irish rental bubble bloom each and every time, it then perpetuates a desperate need to buy, get out of the rental trap, and so now if they could just get credit flowing again that baldy little bollix Noonan could get his way.

Plenty is a relative term.

There are plenty of BTL mortgages but there is a much larger number of landlords exiting the market and reducing the supply of available properties:)

Also any meaningful increase in supply is years away and the emigration figures (released today) do not make pretty reading for those renting or looking to buy.

It was said on MI earlier on this subject that the number of landlord increased in the past 12 months as measured by the number of registrations with the PTRB.

Aren’t over 50% of house purchases done with cash? Probably a lot of Landlords in there looking for a ‘secure’ home for their cash thats now providing a healthy return with these high rents, even allowing for the tax liability.

Rents are only going one way in the next few years…up. Emmigration is going to really take off with the Irish returning, non-nationals coming in as the economy continues to strengthen etc

Could this be something to do with the sudden increase in “landlords”? (I presume it applies to all housing associations.)
Notice to Túath Tenants regarding The Private Residential Tenancies Board
As of Monday 4th April the Association will have an obligation to register all tenancies with the Private Residential Tenancies Board

Why do Irish people put up with this situation?

The quality is poor, the public transport is poor, hours and hours of traffic, low quality neighbourhoods, low quality people and cultural narrow-mindedness. An asphyxiating blend that suppresses talented people and even destroys them. Maybe that’s the way it has been designed because the biggest threat to an established mediocrity is that there is something better out there. The Irish republic is a pig sty. A sham country with a pathetic history. I’m amazed the Irish Times/RTE manage to maintain the emerald tinted narrative of what a great little country Ireland is and how everyone just wants to get to Ireland so they can get a photo shot slugging a pint or holding a hurley.

Is it not a case of all landlords/tenants HAVING to register with PRTB now where before it was all whishy washy

also management companies are now required to pass on all info to Revenue

Rants are at record levels too, it seems. :smiley:

You need to channel a little Elsa.

Most landlords declare rents.
Certainly all the ones I deal with do.

The PRTB was something separate altogether.
If you didn’t pay/register and there were no complaints, no one ever knew.
If you didn’t pay/register and there was a complaint, you simply paid €180 instead of €90 (late payment fee) and that was that.

I’m done ranting. I don’t put up with it anymore. I regret putting up with it for so long.

I’m richer now than I could possibly have imagined. All I had to do was resign myself to Ireland being a lost cause and channel my energy elsewhere. I found it hard to give up and let go. But I’m glad I did.

The tax regime, the mortgage interest rates, the overpriced low spec cars, the traffic, the low quality housing, the bad planning, the low quality culture, the social welfare mentality, the beal bocht mentality of Irish “leaders”, etc. One thing the Irish do have though is an infinite pool of self importance and bleary eyed optimism.