Has House Rental gone up

sfwcork

About 15 months I moved into a 3 bedroom house with herself.The house is about 1Km from a cork satellite town.We were paying 800 a weekNow sh who must be obeyed has decided she wants to move.Ive no issue with that but while we have been looking I have noticed some crazy prices of renatl propertiesLast weekend we say a nice renatl property in douglas.Nice house.When we went there the landlord said he had 2 offers of 850.we declined to offer as we couldnt move in as soon as he wanted. 2 days later I aw same house advertised for 875Even though the ass has fallen off the property market the rental prices are crazyDo landlords in some estates have agreements in place to keep prices at a certain level?Some average house with poor furnishings are now been advertised for 900 quid easilyanybod else seeing this?

summerskin

It's the "no space bar" tax.

Lollipops23

Two people close to me have moved in the last 6 months and both found it really hard to find anything decent for their money (both budgets were normal, too).

The neck of some of the landlords out there is unbelievable- just look at the thread here "Funny Flats/Houses to Rent".

retalivity

800 a week

Its been a few years since I lived in Ireland so forgive me if im wrong, but is this a typo?
800 a week for a 3-bed in a suburb well outside the city???

davet82

we have a forum for this and you know it....


let the píss take commence!

mitosis

When people are not buying houses they are renting. So there is upwards pressure, supply and demand, on the rental market. Rents will continue to rise while houses don't sell.

sfwcork

800 a month sorry

Anyone

Rent is dead money.

Frank Black

Lollipops23 wrote: »

The neck of some of the landlords out there is unbelievable- just look at the thread here "Funny Flats/Houses to Rent".

I believe it's called 'the free market'.

If you don't like it, you can always piss off to some commie hell-hole and live in a corrugated shack.

bluecode

Yes if the area is right. We have to rent out my wife's old house as obviously selling is out of the question. When we advertised on Daft we were overwhelmed with calls the day it went online. It was rented out in a couple of days. We realise now that we could have asked for more money and next time we will.

Same with another house belonging to someone I know. When the last tenants emigrated. It was empty for all of a weekend.

But don't imagine we're raking in the money. We're actually losing money on it at the moment. A lot of landlords are in that position. If we could clear the mortgage by selling it would be gone. It's just not worth it.

awec

People either can't afford to buy, or are too afraid to buy.

Rent prices go up because right now there is higher demand for good rental accommodation than there is to purchase property.

ibarelycare

Demand for rental properties is through the roof. People aren't buying so more people are renting. The competition is fierce out there to find a place to live. The landlords and letting agents are completely calling the shots at the moment.

keith16

Sausages are dead money. Dead tasty too.

D1stant

Supply and demand is all

No one is buying so rentals creep up

smash

We should all buy rental properties :pac:

Ray Palmer

Landlord costs went up in the last budget too. Propert tax and prsi in particular. It was always going to be passed on. The levy/tax for local services should have always been the residents responsibility

Lollipops23

black francis wrote: »

I believe it's called 'the free market'.

If you don't like it, you can always piss off to some commie hell-hole and live in a corrugated shack.

Jaysus, who píssed on your cornflakes?! That post makes you sound like a gun-toting red-neck.

I was merely passing remark on some of the crap some landlords try to pass off as decent accommodation- I even rented an apartment in Maynooth that was classed as "fully furnished" when the only bit of furniture outside of the beds was a sofa. No tables/tv unit, nothing.

CucaFace

In Dublin there a are a lot of people moving here from outside the country (working and especially students), and this is really driving up the rent in the city centre.

I put an ad up on daft last week to find a new flatmate, and got 100 replies to it in one week (about 75% were non Irish).

Very competitive out there. I wouldn't want to be looking for a place urgently that’s' for sure.

smash

Ray Palmer wrote: »

Landlord costs went up in the last budget too. Propert tax and prsi in particular.

What has PRSI got to do with rental or property costs?

Tar.Aldarion

They may be up some places but buying is getting lower and lower:

Summary:
Dublin House prices are 54.4% lower than at their highest level in April 2007 (fell by 1.7% in the month of December 2012 and were 1.7% lower compared to a year earlier)

Dublin Apartments are now 62.3% lower than their peak in February 2007 (rose by 3.7% in the month of December 2012 but were 10.9% lower compared to a year earlier)

Dublin Residential property prices are 56.0% lower than at their highest level in February 2007 (fell by 1.3% in the month of December 2012 and were 6.1% lower than a year ago)

Residential properties in the Rest of Ireland are 46.6% lower than highest level in September 2007 (flat in December 2012 but were 6.1% lower compared to a year earlier)

Overall, the national index is 49.6% lower than its highest level in September 2007 (fell by 0.5% in December 2012 and were 4.5% lower compared to a year earlier)

Larbre34

Tar.Aldarion wrote: »

They may be up some places but buying is getting lower and lower:

Eh, no. Prices are getting lower and lower, buying capacity is also reducing, as is ability to finance, intrinsic demand for buying is still there, just strangled.

Rents are overall fairly stagnant, although rising in so called 'desirable' areas. I mean if youre going to rent, you might as well seek to do it somewhere enjoyable or near your family circle, rather than in the backyard of the ar*ehole of nowhere.

Larbre34

smash wrote: »

What has PRSI got to do with rental or property costs?

Landlords pay income tax and PRSI on rental income, as its, well, income!

Those costs plus the costs of Household charge, RPT, rising management fees, insurance and next year water rates all have to be passed on to someone.......

Ray Palmer

smash wrote: »

What has PRSI got to do with rental or property costs?

The last budget introduced prsi on rental income. Except if you are over 65. Expect it to be challenged at some point

BostonB

Lollipops23 wrote: »

Jaysus, who píssed on your cornflakes?! That post makes you sound like a gun-toting red-neck.

I was merely passing remark on some of the crap some landlords try to pass off as decent accommodation- I even rented an apartment in Maynooth that was classed as "fully furnished" when the only bit of furniture outside of the beds was a sofa. No tables/tv unit, nothing.

In Germany you get unfurnished. Which means 4 bare walls and that is it.

It's important to know German practices and terminology when you set out to find a house or apartment here. If you want two bedrooms with a living room and dining room, you will actually be looking for a vier Zimmer (four-room) home in Germany. Bathrooms, WCs (literally, water closets), kitchens and halls aren't included in the number of rooms. Furnished apartments are rare, and will cost a great deal more than an unfurnished place.
Unfurnished apartments here are just that: completely unfurnished. They don't have built-in cabinets, closets or even lighting fixtures. You'll often have to buy everything, perhaps even the proverbial kitchen sink! Stoves, refrigerators, kitchen cabinets, wardrobes, bookshelves, tables, beds, chairs, curtains, curtain rods, lights and everything else are your problem.

http://www.howtogermany.com/pages/housing.html

They don't have kitchens. When they say unfurnished they mean it!

super_furry

The smart, ballsy guys are buying up property right now.

Larbre34

Ray Palmer wrote: »

The last budget introduced prsi on rental income. Except if you are over 65. Expect it to be challenged at some point

excellent point, and it should be challenged, its discriminatory, and plain unfair. Over 65's landlords are probably the least leveraged in the market so are most able to bear the increases.

Lollipops23

BostonB wrote: »

In Germany you get unfurnished. Which means 4 bare walls and that is it.

Yeah I've heard that. Furnished should mean furnished though, and it should be reflected in the price of rent if you need to go out and get your furniture.

smash

I didn't realise there was PRSI on rental income now... Jesus

BostonB

Lollipops23 wrote: »

Yeah I've heard that. Furnished should mean furnished though, and it should be reflected in the price of rent if you need to go out and get your furniture.

What does "Furnished" mean though.

Is there legal definition for "Furnished" for rental properties?

Lollipops23

BostonB wrote: »

What does "Furnished" mean though.

Is there legal definition for "Furnished" for rental properties?

My cousin was letting her house a while back and the letting agency gave her a list of stuff needed (right down to glasses etc!). That was a while ago and it was probably just the policy of that particular agency though. My bro let his flat 2 years ago and there were still certain criteria he had to meet re. furniture.

However, furnished should mean the most basic furniture-like a table to eat at.

CucaFace

super_furry wrote: »

The smart, ballsy guys are buying up property right now.

Yes because they have the capital behind them to do this.

Some guy bought 3 2 bedroomed apts in my block in Castleforbes last year for 360K total. Some poor guy bought his 2 bed in there at the height for 480K, without even a car parking spot. :eek:

The reantal income alone will get him about 45k a year so he got some deal, and those apts will eventaull go back up in price as they are in the IFSC area.


The funny thing is when eventually when the world does recover from this downturn, the rich will of course end up far richer as they have the funds to buy assets when they are at a seriously reduced rates.

Take stocks for example, they are way under priced for many companies and will over time return to where they were before the whole crisis, and this will make those who can buy the shares now extremely rich. And its the rich who have the funds now.

Im talking about shares in the stable good business companies like Insurance companes, that will always generate profits long into the future.


By the way Bank Of Ireland shares will also make people a really tidy profit if they have the cash now, and can wait years for the return.

They have already gone up nearly 100% from the lowest point they were at 3 years ago.

I wish I had some money.

BostonB

Thats a no then. Furnished could mean anything.

Ray Palmer

Larbre34 wrote: »

excellent point, and it should be challenged, its discriminatory, and plain unfair. Over 65's landlords are probably the least leveraged in the market so are most able to bear the increases.

It shouldn't be on any rental income. Pay related social insurance=prsi. Rental and investments is not "pay" and you can't claim the insurance part of it. It will be challenged as was prsi on self employed as you couldn't get any of the insurance or benefits that were being paid for.
All well and good to charge more taxes on more income but you do as it is a percentage as is.

ibarelycare

BostonB wrote: »

What does "Furnished" mean though.

Is there legal definition for "Furnished" for rental properties?

No, there's no actual guidelines on it unfortunately. A "furnished" property could be a bed in each bedroom, a couch, and that's it.

BostonB

Less furniture in a place the less arguments about it.

bluecode

Larbre34 wrote: »

Landlords pay income tax and PRSI on rental income, as its, well, income!

Those costs plus the costs of Household charge, RPT, rising management fees, insurance and next year water rates all have to be passed on to someone.......

Exactly, another reason for the shortage. Even with the low prices of houses now. It's simply not worthwhile buying to let. Unless it's a long term investment.