1700 average in Sandyford for 2 bed?

Michael D Not Higgins

awec wrote: »

I am not saying it isn't the market rate. I am saying that in these scenarios there are forces at play that arguably have too much influence on the market rate.

There is a reason that there are laws around monopolies and price fixing.

Two letting agencies in a Dublin suburb is hardly the stuff of monopolies. As I already said, they can move outside the sphere of influence of these letting agents.

What you want is a system like in other areas where landlords are more personal and give their tenants a deal lower than market rate due to being good tenants. This isn't going to happen in a highly sought location with agents who treat the market impassionately and as a business.

awec

Michael D Not Higgins wrote: »

Two letting agencies in a Dublin suburb is hardly the stuff of monopolies. As I already said, they can move outside the sphere of influence of these letting agents.

What you want is a system like in other areas where landlords are more personal and give their tenants a deal lower than market rate due to being good tenants. This isn't going to happen in a highly sought location with agents who treat the market impassionately and as a business.

No no, I honestly don't want that. I would like a system where one or two large entities are unable to take effective control of an area. But what I want is unrealistic, unenforceable and never going to happen. I don't care if it's impassionate, I agree that letting property is a business and for-profit, I just would prefer increased competition in the market as much as possible.

It's easy to say "you can just move", but in reality there's not exactly a lot of places to move to.

Michael D Not Higgins

awec wrote: »

No no, I honestly don't want that. I would like a system where one or two large entities are unable to take effective control of an area. But what I want is unrealistic, unenforceable and never going to happen. I don't care if it's impassionate, I agree that letting property is a business and for-profit, I just would prefer increased competition in the market as much as possible.

It's easy to say "you can just move", but in reality there's not exactly a lot of places to move to.

I've had a look on daft and it looks like IRES, a REIT, is one of the main players in Sandyford. Well it has been government policy to push for more REITs and fewer one-off landlords in the property market so unfortunately you're going to see this happen more often.

I was sharing a 2 bet apt for a few months in Grande Central last summer. I was subletting it from a colleague who was away for a few months.

IRIS control the majority if not all apartments in the complex, they have an office on site as well. The two lads who had been living there for 2 years had been paying €1350pm for a standard two bed en-suite with a lovely view of a derelict site. IRIS sent a letter stating the revised rent would be €1800pm, a crazy amount for what it was.

Property management vultures like this will max out the rents at every opportunity with no willingness to negotiate. They aren't your normal landlord by any means.

Not only that but the underground car park has been constantly targeted with a number of cars and motorbikes stolen while i was there, the guards are well aware. IRIS eventually put a proper gate on the place.

And like others say the area is dead after 7pm on weekdays and allweekend, glad i wasn't committed to taking over the lease in any way.

http://www.irishtimes.com/business/commercial-property/iris-reit-generates-30-8m-profit-on-strong-rental-growth-1.2529313

Idbatterim

I was sharing a 2 bet apt for a few months in Grande Central last summer. I was subletting it from a colleague who was away for a few months.

IRIS control the majority if not all apartments in the complex, they have an office on site as well. The two lads who had been living there for 2 years had been paying €1350pm for a standard two bed en-suite with a lovely view of a derelict site. IRIS sent a letter stating the revised rent would be €1800pm, a crazy amount for what it was.

if that is what they are getting, that is the market rent. I just moved out on a 2 bed in dundrum, asking E1650 when I moved out, beyond a joke for the kip. I wouldnt put my worst enemy in it. The situation is a joke, but you cant blame IRIS etc for it. only allowing low-rise, some standards that are way OTT, other where it is so far the other way, its beyond a joke.

I point the finger solely at the government, as usual world class wafflers! Rest assured they arent worrying about renting, I am sure if they were, this would have been sorted immediately!

Oedo

awec wrote: »

I live close to Sandyford, when we moved in to our current place in 2013 the rent was 1200 a month and now it's 1650. I am pretty sure it would have gone up again next month except for this two year law that came in.

Forgive my ignorance but what's this 2 year law?

Sarn

Oedo wrote: »

Forgive my ignorance but what's this 2 year law?

It's where a rent review cannot occur until 2 years after the start of a lease or the last rent review.

Oedo

Sarn wrote: »

It's where a rent review cannot occur until 2 years after the start of a lease or the last rent review.

I assume if the lease is coming to an end it can be increased though? ie if a 1 year lease is expiring, the rent can be increased thereafter?

edit: Also are there limits on how much rent can be increased by?

Michael D Not Higgins

Oedo wrote: »

I assume if the lease is coming to an end it can be increased though? ie if a 1 year lease is expiring, the rent can be increased thereafter?

edit: Also are there limits on how much rent can be increased by?

The legislation is separate from fixed term leases offered by landlords. Whether there's a fixed term lease or not does not determine the periodicity of rent reviews.

If you just came to the end of the first fixed one year lease the landlord cannot do a rent review, they must wait until 2 years have passed from the start of the tenancy. The new rent must not be higher than market rent.

Oedo

Michael D Not Higgins wrote: »

The legislation is separate from fixed term leases offered by landlords. Whether there's a fixed term lease or not does not determine the periodicity of rent reviews.

If you just came to the end of the first fixed one year lease the landlord cannot do a rent review, they must wait until 2 years have passed from the start of the tenancy. The new rent must not be higher than market rent.

I've been in the property for about 2.5 years. The rent has been increasing a small amount. Lease is ending in a few months and he's talking about a 40% increase, which unfortunately appears to be around the market average for the area.

awec

Oedo wrote: »

I've been in the property for about 2.5 years. The rent has been increasing a small amount. Lease is ending in a few months and he's talking about a 40% increase, which unfortunately appears to be around the market average for the area.

If your rent has went up in the past 2 years (from whenever he says the higher rent takes effect) then he is in the wrong.

JupiterKid

€1,700 for a 2 bed apartment in what is basically a pretty soulless redeveloped industrial estate is utterly extortionate. No ifs or bits - it is scandalous.

Rents in Dublin are nothing short of a scandal. Renters are being ripped off left, right and centre for often substandard accommodation. And it's driven by pure greed.

Sheep in a field

JupiterKid wrote: »

€1,700 for a 2 bed apartment in what is basically a pretty soulless redeveloped industrial estate is utterly extortionate. No ifs or bits - it is scandalous.

Rents in Dublin are nothing short of a scandal. Renters are being ripped off left, right and centre for often substandard accommodation. And it's driven by pure greed.

Greed or "Supply and Demand".

Agree that the while thing is a joke anyway, it's not only Ireland.

markpb

JupiterKid wrote: »

€1,700 for a 2 bed apartment in what is basically a pretty soulless redeveloped industrial estate is utterly extortionate. No ifs or bits - it is scandalous.

Rents in Dublin are nothing short of a scandal. Renters are being ripped off left, right and centre for often substandard accommodation. And it's driven by pure greed.

Maybe the rent is high because people want to live there? Maybe it's convenient for them if the work in Sandyford or Central Park? Maybe it's handy for them if they work in town because it's close to the Luas. Maybe having the M50 nearby is a good thing too. Cycle lanes between Sandyford and the city centre is good too. Maybe they like having Dunnes and Aldi downstairs and a selection of cafes and decent restaurants nearby. Imaginosity is a great place for entertaining children and there are parks and football fields nearby for older children. Dublin Mountains are nearby too.

People need to get over their bizarre love for endless, soulless housing estates that most people in Dublin live in.

CaoimheSquee

Of course, I am sure people are only too delighted to pay 1700/1800 for a two bed apartment in Sandyford! Give me a break. I am from about 10 minutes from Sandyford so I do know the area.

There is hardly anything out there and renters basically have to weigh up on location and size and how much they are prepared to or able to afford. That in itself is pretty normal but we are now talking in extremes. Either way you are going to have to pay an extortionate amount of money so you just decide what is more important to you. Do you say good bye to savings or do you say goodbye to a short commute and accept long hours?

Some sacrifice location and short commute, some sacrifice on size or just decide to put all their wages on rent and bills and try and save a bit on travel.

The rental market has been spiraling out of control since 2014 and the government are turning a very happy blind eye.

I have rented for about 15 years and never ever seen things so bad.

awec

Sandyford is quiet at night and there isn't a load to do, but:

1. It's right beside the Luas
2. You can get to Dundrum in 10 minutes via Luas
3. 20 mins by Luas into town
4. 10 minute drive to the seaside towns of Blackrock and Dun Laoghaire
5. Aldi and Dunnes within walking distance of most apartments
6. Beside the m50, but not so close that you can hear constant traffic
7. Loads of offices nearby that I bet a lot of residents work in

Calling it a soulless industrial estate is a bit disingenuous. The area does have a lot going for it, it is not hard to see why it is in demand. I don't think the apartments are worth 1700 a month and I think rents are very high right now, but the area isn't as bad as made out and people want to live there.

Idbatterim

I total agree with the above, I would say dundrum is 3-4 mins away on luas, lots of resteraunts and nice shops etc. IMO the whole estate should be rezoned to allow for a mix of commercial and residential. Allow for the current smaller and cheaper units, it could house a large amount on the m50 and luas line...

turn the green line to metro south as discussed, continue it down to bray and as proposed and connect it with metro north... this would allow and take high density development along the entire route, which is badly needed... When will the semi d sprawl end, when we reach the Shannon?!

JupiterKid

Don't get me wrong. Sandyford does have its merits - the Luas green line makes trips to the city centre easy and there's the mountains nearby but on the guts of €2,000 per month for a 2 bed apartment there is just crazy. For people renting there how are they ever going to save for a deposit to buy a dwelling further down the line?

Dublin is in the midst of a rental crisis and it urgently needs to be resolved. So many people and families simply cannot afford the sky high rents that are demanded. And I know that you can move further out of the city for lower housing costs but then you have to factor in higher commuting costs and not everyone has access to a car. It's a dilemma and housing needs to be at the very top of the political agenda - above health and education even.

There are a lot of big employers out in Sandyford but surely not all the workers there are on a salary that can cover the high rents charged there.

tuisginideach

4 GAA clubs in close proximity to Sandyford /not too far from Stepaside either