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Rents creeping up in certain areas?

  • 28-09-2012 2:57pm
    #1
    murphaph
    Registered Users, Registered Users 2 Posts: 19,050 ✭✭✭✭


    I keep an eye on Daft for properties in D15 as I rent one out there. I charge €900 a month and at present there's just 2 other similar (3 bed semi d, any location in D15) properties for this and nothing cheaper. The re

    Last time I looked (perhaps 4 months ago) there were definitely a handful of cheaper properties (mostly ex-council) and many more priced at the €900.

    Although these aren't always the rents that the LL agrees to, they do seem to be moving upward. I wonder are LL's finally starting to pass on all the extra costs that have been landed on us in the past few years (€300 in property taxes, increased USC rates, increased insurance costs, PRTB re-registrations etc. and of course maintenance).

    I have held the rent in my place firm for about 2 years now but if the govt. imposes a hefty property tax on me in the budget, I'll have to increase by €25 pm, assuming the property tax comes in at 300 in its own right in year one.


Comments

  • #2
    Zamboni
    Registered Users, Registered Users 2 Posts: 4,306 ✭✭✭Zamboni


    murphaph wrote: »
    I keep an eye on Daft for properties in D15 as I rent one out there. I charge €900 a month and at present there's just 2 other similar (3 bed semi d, any location in D15) properties for this and nothing cheaper. The re

    Last time I looked (perhaps 4 months ago) there were definitely a handful of cheaper properties (mostly ex-council) and many more priced at the €900.

    Although these aren't always the rents that the LL agrees to, they do seem to be moving upward. I wonder are LL's finally starting to pass on all the extra costs that have been landed on us in the past few years (€300 in property taxes, increased USC rates, increased insurance costs, PRTB re-registrations etc. and of course maintenance).

    I have held the rent in my place firm for about 2 years now but if the govt. imposes a hefty property tax on me in the budget, I'll have to increase by €25 pm, assuming the property tax comes in at 300 in its own right in year one.

    Look you know the drill, price is set by demand/supply and not by the suppliers cost of sales.
    You risk losing a tenant for a price increase that could be counteracted by a gap in tenancies or by no takers at the new price.
    It's a risk that could pay off or burn you.


  • #3
    j4vier
    Registered Users, Registered Users 2 Posts: 1,893 ✭✭✭j4vier


    Prices Might look like they are growing as some landlords will leave some margin to allow negotiations with tenants. I dont think anyone buys anything without barganing anymore


  • #4
    murphaph
    Registered Users, Registered Users 2 Posts: 19,050 ✭✭✭✭murphaph


    j4vier wrote: »
    Prices Might look like they are growing as some landlords will leave some margin to allow negotiations with tenants. I dont think anyone buys anything without barganing anymore
    This was always the case with rents. LL's always put a bit more in the daft ad than they wanted to leave room. Personally I hate that system and prefer to just see the lowest price the LL will accept, but people like to "feel" they've gotten a "deal" so LL's leave a bit of play room.

    I believe, at least in D15, that rents are starting to move up a wee bit, for good or bad (I'd prefer if my costs and my tenants costs weren't going up, but the govt seem intent on driving those costs up, before they really examine the waste in their own spending, especially in local authorities.

    I'll likely leave the rent in my place as it is so long as there's at least one other property on daft for the same money, but it looks like there soon won't be, if the trend I'm seeing continues.


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