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National Rent Index

  • 06-05-2013 6:52pm
    #1
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭


    The PRTB rent index goes live on 8th May. This will give us a transparant picture of rent rises and falls. Together with the property price register it has transformed openess and availability of information to those of us interested in this sector.

    http://public.prtb.ie/landlords/rent-index-launch


Comments

  • #2
    discodavie
    Registered Users, Registered Users 2 Posts: 341 ✭✭discodavie


    StillWaters wrote: »
    The PRTB rent index goes live on 8th May. This will give us a transparant picture of rent rises and falls. Together with the property price register it has transformed openess and availability of information to those of us interested in this sector.

    http://public.prtb.ie/landlords/rent-index-launch

    Is this actually what they're going to do ?


  • #3
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,289 ✭✭✭✭Mrs OBumble


    I hate to break it to ya ... but this will only work at the high end of the market.

    At the lower end, where it's common for people who need rent allowance to have an official rent and also an unofficial top-up that they pay direct to the landlord, the information available will continue to be murky at best.


  • #4
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    Mrs OBumble wrote: »
    I hate to break it to ya ... but this will only work at the high end of the market.

    At the lower end, where it's common for people who need rent allowance to have an official rent and also an unofficial top-up that they pay direct to the landlord, the information available will continue to be murky at best.

    Hmmm true, I hadnt considered that. So it will underestimate rents at the lower end.


  • #5
    djimi
    Registered Users, Registered Users 2 Posts: 13,237 ✭✭✭✭djimi


    What is it based on; asking prices or actual rental prices? Do the PRTB have access to the actual price that a property rents for?


  • #6
    gaius c
    Registered Users, Registered Users 2 Posts: 3,528 ✭✭✭gaius c


    djimi wrote: »
    What is it based on; asking prices or actual rental prices? Do the PRTB have access to the actual price that a property rents for?

    Yes and no.
    When a new tenancy starts, the PRTB will have that rent figure but if the rent is re-negotiated with the same tenant later, then they won't have that updated figure.


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  • #7
    D3PO
    Registered Users, Registered Users 2 Posts: 7,879 ✭✭✭D3PO


    worthless tool unfortunately. Unlike the PPR which legally must be updated there are far too many impediments to this being of use.

    1. Unregistered tenancies
    2. No requirement for updating of rental prices on annual rent reviews with a tenant. Either upwards or downwards.
    3. Wont correctly identify where rents are higher than listed due to RA top up payments.

    All in all its going to be about as much use as an inflatable dartboard.


  • #8
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    Are the PRTB forced to provide this new index?
    What is the legislation?


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