What will rent a room do?
- Nada or maybe even fall
- It’ll grow but have no effect on rents
- It’ll hurt rents
Use of the rent-a-room scheme seems to be fairly low, but will this continue? As more households face destitution, will the number of rooms available through the rent-a-room scheme skyrocket?
So what will this do to the rental sector? I’m guessing it might cause rents to fall
An example from Monaghan Town
2 Bedroom Flat - â‚¬200/week
Rent a room - â‚¬50/week
Can definitely see it happening if money gets tight for people.
Lodgers help pay bills etc too.
Yes but lodgers have relatively few legal rights compared to tenants, and from past experience living in owner occupied is hell. It’s only going to work if it is a) hugely less expensive than rent or b) there is a rental availability squeeze.
2bed flats in Monaghan strike me as over priced on the rental market. Is the place really that hot to live in?
I don’t think there’s a market out there for a big increase in rent-a-room take up to be honest. I don’t see the required massive rental squeeze coming about.
Can’t see too many people renting a room to be honest. Possibly
a) people who’ve never done it before and don’t realise how difficult it is as Calina said.
b) a very good friend who willl probably not be a very good friend after 6 months living together
c) 1st year Uni student up from the country looking for digs as they were known in my time. Come to think of it, these are also a) category people.
Is there anyone out there who has ever rented a room from an owner occupier for more than 6 months? What made you stay?
Just in case â‚¬200/week in total = â‚¬100 each.
Either way its mightily overpriced but it’s probably investors trying to
cover a lot of their mortgage. The apartments are fairly new and sold
for around â‚¬250k. There is a shortage of apartments in the town centre
though so some are willing to pay for it.
In a 1 mile radius though there is a lot of accomodation available and
a lot more developments being finished this year. I’d expect some
bargains to be found in the rental market in a year as people need
tenants in to simply pay the utility bills.
I’m renting a room with a live in landlord for a year and a half now.
I moved in at â‚¬35/week, it’s since gone up to â‚¬50/week. I think I get
~20% of this back in tax relief.
I didn’t know the landlord before I moved in but he’s only 2 years my
senior and a drinking buddy now. No problems.
I’m guessing that we’ll see greater take-up from our Polish friends. Sharing rooms is common among our eastern visitors anyway so they won’t be too averse from that point of view.
Perhaps, but if Polish renting here is anything like what we Irish did in Australia they’ll prefer instead for 3 people to get together to rent an average, not so good, 3 bedroomed place. Then, once the landlord’s got the deposit and is a safe distance away another 11 friends will stay with them, drastically reducing the cost/head. Polish people also like to house-party since it’s way cheaper than paying pub-tax. There aren’t many owners that like to throw one-in all-in parties.