Rent a Room - OMG Prices

Samuel T. Cogley

I know accommodation in Dublin has gone nuts but seriously? I keep an eye on D5 fairly regularly as that's where I rent a room and there is one room currently up at €1000 a month. A grand a month for a room?!

I presume that RAR has now got attractive enough that people who would have never considered it in the past are now doing it, perhaps that can be seen as a good thing, but at €1K a month for a room, I'm not so sure.

It seems to have gone nuts recently, anecdotally I rented out my room recently at a much higher rate than I usually do and it was gone in in under 20 hours.

Is it really that bad out there? A couple of years ago, if you were willing to commit to a place there and then it was pretty easy to get a place, now would someone really go a for a room at that price?

myshirt

Some kids are 4 to 6 in a room in bunkbed for 300 a piece.

The rent a room relief could have been capped at 10k and not reduced the amount of rooms on the market. 14k is too high and only drives more money into the pocket of the homeowner with no responding increase in rooms or digs.

mickoneill31

myshirt wrote: »

Some kids are 4 to 6 in a room in bunkbed for 300 a piece.

The rent a room relief could have been capped at 10k and not reduced the amount of rooms on the market. 14k is too high and only drives more money into the pocket of the homeowner with no responding increase in rooms or digs.

It's called rent a room but you can rent multiple rooms out. So by increasing the cap you increase the chance of somebody renting out a second or third room.

Samuel T. Cogley

mickoneill31 wrote: »

It's called rent a room but you can rent multiple rooms out. So by increasing the cap you increase the chance of somebody renting out a second or third room.

I don't think that's happened though. I know that regardless of the cap I don't think I'd rent a second room, just too many people in the house. Perhaps it should be a per room allowance or something? Very difficult to police of course.

syntheticjunk

Wait for a soft "Brexit" - you'll remember this as cheap rent.

Grolschevik

That's madness. I'm currently in a lovely, large 2 bed apartment with fantastic managed facilities for 1100 pm.

But I presume 'market rate' is determined by what's offered/accepted at certain point in time, rather than what many others might be paying.

quadrifoglio verde

Grolschevik wrote: »

That's madness. I'm currently in a lovely, large 2 bed apartment with fantastic managed facilities for 1100 pm.

But I presume 'market rate' is determined by what's offered/accepted at certain point in time, rather than what many others might be paying.

Yep it's what someone today wants to pay and not what some group of people 3 years ago agreed to pay.

I hadn't realised rates had gone that high though.

athtrasna

Samuel T. Cogley wrote: »

I know accommodation in Dublin has gone nuts but seriously? I keep an eye on D5 fairly regularly as that's where I rent a room and there is one room currently up at €1000 a month. A grand a month for a room?!

Is there anything special about the room? Size/facilities/location?

padd b1975

I'm in the process of freshening up a large en suite double room in West Dublin. It will have new shower and tiling, new flooring, bed and bedroom furniture.

I'll probably ask about €700 for it based on Daft.ie prices.

I think it's a fair price because I'll be only there every second weekend so whoever I take in will basically have the place to themselves for 90% of the time for around 50% of the rent for a full apartment.

Perhaps the landlord in the OP has similar circumstances. Even so, €1000 is a bit expensive for a room

boardsuser1

Just spotted a room only, to let in Ringaskiddy Co. Cork.

€120 per week.

Bills extra.

Samuel T. Cogley

athtrasna wrote: »

Is there anything special about the room? Size/facilities/location?

Fairly nice area in Raheny, but still. Ensuite but it's in the attic.

Link (please remove is you think its out of order).

Now this is just one example, €850pm for a room in Artane! :eek:

juno10353

Samuel T. Cogley wrote:

Fairly nice area in Raheny, but still. Ensuite

Having looked at the link, this is not a room to let situation. It is a house share. Landlord not on site.

currants

That "window seat" looks more like a dog's basket. Is it a bungalow attic conversion? It looks dark and poky too. 1k per month is very optimistic for this imo. Wonder what the total rent for the place is.

padd b1975

currants wrote: »

That "window seat" looks more like a dog's basket. Is it a bungalow attic conversion? It looks dark and poky too. 1k per month is very optimistic for this imo. Wonder what the total rent for the place is.

I suspect someone may be trying to subsidise their own portion of the rent by overcharging on a sublet.

caviardreams

padd b1975 wrote: »

I suspect someone may be trying to subsidise their own portion of the rent by overcharging on a sublet.

I'd say this also - you are sharing with a couple also which makes it even worse, as I can't see them getting more than 1800 total for a 2 bed in that area imo - I do note bills are included however.

Feckofff

They're probably hoping for a couple and if you take 100 month out for bills that's 450 each. If they have there own bathroom and work in town.

Edit: just noticed no couples allowed. So yeah it's a bit steep!

Mr.H

Extortion is what it is. A lot of landlords out there taking advantage.

our mortgage is 560 a month on a 150k house.

We are paying half for a 3 bed house, what is being charged for one room.

Disgusting

LirW

Ah, no worries that is all just to get in line with the rent for all the new student accomodations in town, starting price for 250 per week.
Just make rents for rooms higher than Student rooms are, so they'll better be grateful to get such a bargain :pac:

Sleeper12

Samuel T. Cogley wrote:

Fairly nice area in Raheny, but still. Ensuite but it's in the attic.

It's the upstairs of a bungalow. Still pricy though

Samuel T. Cogley

juno10353 wrote: »

Having looked at the link, this is not a room to let situation. It is a house share. Landlord not on site.

While I don't really meant to limit the discussion to where RAR relief is being used, a tenant can sublet and take advantage for RAR themselves, I'm surprised more don't tbh. I've quite a few friends in 2 beds paying massive rents, it's a great and tax efficient way of helping with the rent.

housetypeb

Mr.H wrote: »

Extortion is what it is. A lot of landlords out there taking advantage...

...Disgusting

Really? Every other business in the world charges what the market will bear for their goods to maximise profits, be it the latest smartphone,car,gold, etc.
Are landlords somehow meant to be charitable while also being a business?

Samuel T. Cogley

housetypeb wrote: »

Really? Every other business in the world charges what the market will bear for their goods to maximise profits, be it the latest smartphone,car, etc.
Are landlords somehow meant to be charitable while also being a business?

There is a point though where essential goods (for example food) and services (for example housing) where it becomes profiteering. While I've no sympathy when in comes to full lets because the exchequer is profiteering at least as much as the landlord but where RAR is being used I have to say I think it's a bit much.

I'm not having a go, I share your view to a point, I just think it's getting a bit above and beyond here - looking about this might be a D5 thing? I'm seeing rooms in Dundrum for €400. Perhaps the DART is jacking up the price?

There is actually potential for an interesting paradox emerging.

LL are stuck in what they can charge by the rent caps but someone renting from the LL and then renting rooms under the RAR scheme are not impacted by this. You could have a scenario where the market rate is much higher than the tenant is paying the LL but they are getting the market rate for other rooms thus possibly leaving their rent almost covered etc

What happens then if (as some people claim) the people renting the room request to be added to the lease? They are paying higher than the Ll is allowed to take off them but that's ok while they are renting from the head tenant but not I would assume if they are added to the lease.

JuliusCaesar

Mr.H wrote: »

Extortion is what it is. A lot of landlords out there taking advantage.

our mortgage is 560 a month on a 150k house.

We are paying half for a 3 bed house, what is being charged for one room.

Disgusting

Plenty of people are paying €1500 on a mortgage. Where in Dublin is it possible to buy a house for 150k?

Sleeper12

Mr.H wrote:

Extortion is what it is. A lot of landlords out there taking advantage.

Mr.H wrote:

our mortgage is 560 a month on a 150k house.

Mr.H wrote:

We are paying half for a 3 bed house, what is being charged for one room.

Mr.H wrote:

Disgusting

Landlord isn't renting the room. The couple advertising the room are tenants so you can't blame the landlord on this one.

Arcade_Tryer

Sleeper12 wrote: »

Landlord isn't renting the room. The couple advertising the room are tenants so you can't blame the landlord on this one.

Which supports the point that you cannot blame people for exploiting a dysfunctional system, unless they have specifically designed the system. And the only way to argue that, is to say they voted FG specifically to ensure that housing supply in Dublin would be stunted to inflate the rental market. Quite a stretch. The Government and DCC are at fault here. They have screwed up big time to allow this to happen.

hytrogen

Mr.H wrote:

Extortion is what it is. A lot of landlords out there taking advantage.

our mortgage is 560 a month on a 150k house.

We are paying half for a 3 bed house, what is being charged for one room.

Think you hit the nail on the head, it's mortgage repayments that are the real issue, the fact people are willing to borrow and stretch to obscene levels of debt like we saw in the early naughties. Have we learned nothing?! Like 560pcm is a huge chunk out of anyone's paycheque to be scraping endsmeat together..

Mr.H wrote:

Disgusting

currants

Arcade_Tryer wrote: »

Which supports the point that you cannot blame people for exploiting a dysfunctional system, unless they have specifically designed the system. And the only way to argue that, is to say they voted FG specifically to ensure that housing supply in Dublin would be stunted to inflate the rental market. Quite a stretch. The Government and DCC are at fault here. They have screwed up big time to allow this to happen.

I agree state housing policy is behind the current mess the housing system is in but you cant say that individuals who exploit that mess are not responsible for their own actions. Personal responsibility still exists, even in a housing crisis.
I don't think they will get 1k for it, it simply isn't worth it, even in the inflated rental market we have. Not one wide shot of the room either and those sloped ceilings look extremely low. Not many single dwarves with 1k to blow on rent about I'd imagine.

Samuel T. Cogley

I might be derailing my own thread here and I stress that SUPPLY IS THE ANSWER but as a couple that went mental in the last boom and bought a tiny 1 bed city apartment for almost 300K I'm actually glad we did. We had the benefit of a tracker and to be fair the rental market during the last boom was no where near as bad as it is now, but for €700 a month (now less as it's a tracker) we had security if tenure at least.

It's pretty bloody bleak out there at the moment. I assume this is being driven by credit not being as widely available so it's force pressure into the rental market?

currants

<deleted quote snipped>

Subletting a room is not a business. This couple are not in business, they are simply chancing their arm in trying to get a tenant to subsidise their rent.
The worst imaginable response to the housing crisis is the one we have have now- no cohesive policy and cosmetic tinkering at the margins.

hytrogen

hytrogen wrote: »

Think you hit the nail on the head, it's mortgage repayments that are the real issue, the fact people are willing to borrow and stretch to obscene levels of debt like we saw in the early naughties. Have we learned nothing?! Like 560pcm is a huge chunk out of anyone's paycheque to be scraping endsmeat together..

560 euro is a very low mortgage payment.

Arcade_Tryer

currants wrote: »

Subletting a room is not a business. This couple are not in business, they are simply chancing their arm in trying to get a tenant to subsidise their rent

It's a market transaction, and therefore there should be an expectation of maximising profits. You could argue any business is simply "chancing their arm", but if people are willing to pay what they are asking, they can continue to do so. And should do so. Competition should see that they do not survive long. There is not enough competition in the rental market in Dublin. Why? Supply shortage. Why? Government and DCC policies.

Yourself isit

housetypeb wrote: »

Really? Every other business in the world charges what the market will bear for their goods to maximise profits, be it the latest smartphone,car,gold, etc.
Are landlords somehow meant to be charitable while also being a business?

Ah cut the free market bollocks. There's no free market in housing on this country.

Yourself isit

hytrogen wrote: »

Think you hit the nail on the head, it's mortgage repayments that are the real issue, the fact people are willing to borrow and stretch to obscene levels of debt like we saw in the early naughties. Have we learned nothing?! Like 560pcm is a huge chunk out of anyone's paycheque to be scraping endsmeat together..

560 would be affordable to most. Many people would kill for it.

Yourself isit

currants wrote: »

Subletting a room is not a business. This couple are not in business, they are simply chancing their arm in trying to get a tenant to subsidise their rent.
The worst imaginable response to the housing crisis is the one we have have now- no cohesive policy and cosmetic tinkering at the margins.

The room itself may not even be legally a habitable space. Looks small.

Arcade_Tryer

Yourself isit wrote: »

Ah cut the free market bollocks. There's no free market in housing on this country.

You're right, there's not a free market in housing, and that is thanks to DCC and the Government, not landlords. Landlords can only exist within the market which they are operating in, and it's neither their fault, nor their virtue, that allows them to exploit it.

Samuel T. Cogley

Sorry, not looking to backseat mod, apologies if it seems like it but this is a general trend in D5. Artane has no DART but there is a room going for 850!

Just sayin' don't get too hung up on that one room.

Yourself isit

Yourself isit wrote: »

The room itself may not even be legally a habitable space. Looks small.

Looks a lot bigger than the box rooms being let in most houseshares.

athtrasna

Mod note

Arcade_tryer if you want to continue to talk politics please take it to the appropriate forum.

the_syco

Samuel T. Cogley wrote: »

Link (please remove is you think its out of order).

Although it says "House is not owner occupied", if the person will be subletting they won't have any rights anyway, and if it's direct off the landlord, then wow on the price.