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Landlord to raise rent

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    #32
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    djimi wrote: »
    I think the pig headed comment was more aimed at the landlord who is willing to lose out on a months rent for the sake of holding out for a coupleof hundred quid more of a rent increase.
    I take the point. However, if he has mispriced, then that's the LL's problem. I know people don't want the disruption of having to move but it comes down to the bottom line. If they don't agree with the increase, they should move outwards and onwards.


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    #33
    3DataModem
    Registered Users Posts: 3,957 ✭✭✭3DataModem


    djimi wrote: »
    I think the pig headed comment was more aimed at the landlord who is willing to lose out on a months rent for the sake of holding out for a coupleof hundred quid more of a rent increase.

    Exactly. My tenant negotiated a drop last year. Market rate is 850. He suggested 750. We swapped a few DAFT links, and I agreed 800 as he's been there a while, and spent about 1200 on new furniture as the existing stuff was 8-9 years old as long as he verbally agreed to stay another 6m+.

    There are plenty of landlords who would be pig-headed about the 850, and pig headed about the furniture upgrade. They see the rent as their personal income, not the gross income of the business, and see any reduction as a personal loss.


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    #34
    3DataModem
    Registered Users Posts: 3,957 ✭✭✭3DataModem


    makeorbrake wrote: »
    I take the point. However, if he has mispriced, then that's the LL's problem. I know people don't want the disruption of having to move but it comes down to the bottom line. If they don't agree with the increase, they should move outwards and onwards.

    Completely agree. A landlord who won't take a small hit on rent to get a good tenant, is running their business badly.


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    #35
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    djimi wrote: »
    I think the pig headed comment was more aimed at the landlord who is willing to lose out on a months rent for the sake of holding out for a coupleof hundred quid more of a rent increase.

    And it's unfair. "Gambler" would be a better description in that they are gambling that the tenant will decide moving is not worth the hassle and instead pay the higher rent. Also, vacancy periods are right down at present so it probably wouldn't be empty for the full month.
    3DataModem wrote: »
    Completely agree. A landlord who won't take a small hit on rent to get a good tenant, is running their business badly.

    Lots and lots of tenants out there so landlords can a) pick and choose b) name their price.
    It's not nice for tenants and the high & mighty attitude of some landlords makes bile rise at the back of my throat but that's just the way it is right now.
    hfallada wrote: »
    We live in a free market economy. If you are not happy with the rent you are being asked to pay, you can simply move to a different property. But good luck finding a new house as there is no supply. Which results in forcing up prices.

    The market is operating as it should be due to the higher demand. But dont forget your landlord now has to pay USC and PRSI on his rental income. He also has a property tax and probably higher borrowing costs due to increases in mortgage rates

    Who cares? Rents don't go down when tenant income decreases so they shouldn't go up just because landlord costs have increased.


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    #36
    djimi
    Registered Users Posts: 13,238 ✭✭✭✭djimi


    gaius c wrote: »
    And it's unfair. "Gambler" would be a better description in that they are gambling that the tenant will decide moving is not worth the hassle and instead pay the higher rent. Also, vacancy periods are right down at present so it probably wouldn't be empty for the full month.

    I suppose it depends on the situation. I know of one house that was vacant for over 6 months because the landlord wouldnt knock €50 off the asking price. Some houses and some areas are simply not worth what is being asked, and be it a new tenant or a rent increase, there are some geniuses out there who would sooner screw themselves financially rather then "give in" and negotiate!


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    #37
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    djimi wrote: »
    I suppose it depends on the situation. I know of one house that was vacant for over 6 months because the landlord wouldnt knock €50 off the asking price. Some houses and some areas are simply not worth what is being asked, and be it a new tenant or a rent increase, there are some geniuses out there who would sooner screw themselves financially rather then "give in" and negotiate!

    It does but at the heart of it, price setting is something of a gamble in today's rather volatile market. Cautious landlords (which we were before we sold up) would introduce increases gradually, not bundle a decade's worth into one increase as some friends of mine were subjected to recently.


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    #38
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators Posts: 22,316 CMod ✭✭✭✭Pawwed Rig


    djimi wrote: »
    there are some geniuses out there who would sooner screw themselves financially rather then "give in" and negotiate!

    Which is why the OP needs to keep emotion out of it. If he goes in guns blazing with 'greedy landlord' comments or in a confrontational manner then an amateur LL might let ego get in the way of common sense and noone wins.


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    #39
    makeorbrake
    Registered Users Posts: 4,664 ✭✭✭makeorbrake


    gaius c wrote: »
    Who cares? Rents don't go down when tenant income decreases so they shouldn't go up just because landlord costs have increased.
    This and also the "greedy landlord" and "gambler landlord" comments...


    To all of them, it's the same thing! It doesn't matter. Market forces dictate what the price will be. If you are not happy with it, move on. Getting tied up in what the landlord should or shouldnt charge or what the tenant should or shouldnt pay is pointless.

    How is it any different from any other financial transaction?


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