Will rent controls effect the general quality of rentals in the long run

Murrisk

Electric Sheep wrote: »

I think the standard of furnishings in a lot (probably most) of Irish rentals is far below what would be expected in an AirBnB letting. I can't see that being a success for most, unless the LL is willing to seriously upgrade what is on offer. Nobody wants to vacation in a dump.

Yeah, I never considered that actually. Rentals are rated!

Graham

Electric Sheep wrote: »

I think the standard of furnishings in a lot (probably most) of Irish rentals is far below what would be expected in an AirBnB letting. I can't see that being a success for most, unless the LL is willing to seriously upgrade what is on offer. Nobody wants to vacation in a dump.

Looking at the AirBnB listings in Ireland it's fair to say the general standards is fairly high.

It would be safe to assume that any properties that needed upgrading, were upgraded prior to being offered on AirBnB. Either that or they were of a high enough standard to begin with.

That neatly brings us back on topic.

If higher-end properties are being moved to AirBnB, it's not unreasonable to think current lower end properties could end up being refurbished to take their place. This would enable them to legitimately move above the current rent caps.

The net result of this is increasing standards BUT increasing rents.

That's not good for tenants at the lower to middle end of the rental market where re-investment in property improvements is unlikely AND demand will naturally increase as the limited supply of middle-tier rentals moves towards the higher end.

Electric Sheep

Graham wrote: »

Looking at the AirBnB listings in Ireland it's fair to say the general standards is fairly high.

It would be safe to assume that any properties that needed upgrading, were upgraded prior to being offered on AirBnB. Either that or they were of a high enough standard to begin with.

That neatly brings us back on topic.

If higher-end properties are being moved to AirBnB, it's not unreasonable to think current lower end properties could end up being refurbished to take their place. This would enable them to legitimately move above the current rent caps.

The net result of this is increasing standards BUT increasing rents.

That's not good for tenants at the lower to middle end of the rental market where re-investment in property improvements is unlikely AND demand will naturally increase as the limited supply of middle-tier rentals moves towards the higher end./QUOTE]

I agree that the AirBnB listing in Ireland are of a reasonably high standard - far
above the average Irish rental listing. That is why I think the average Irish LL talking about moving to AirBnB is very unrealistic.

I think most potential tenants don't have a problem with a rent commensurate with the quality of a rental. At the moment, the quality of most is far below the rent being asked. However, this is not going to go on forever, things will even out in the end.

Graham

Electric Sheep wrote: »

I agree that the AirBnB listing in Ireland are of a reasonably high standard - far
above the average Irish rental listing. That is why I think the average Irish LL talking about moving to AirBnB is very unrealistic.

I think most potential tenants don't have a problem with a rent commensurate with the quality of a rental. At the moment, the quality of most is far below the rent being asked. However, this is not going to go on forever, things will even out in the end.

Even if it were the case that Irish rental property is of a universally low standard, I don't think it is but let's go with it.

It makes financial sense for a landlord to improve a current rental in order:

a) move to the short-term rental market (AirBnB)
b) move a below market-rent property back to its current market value

Either way, the outlook is the same. Not good at the lower to mid-end.

NinetyTwoTeam

Yeah we should remove the rent controls because without a doubt the LLs will all use the extra money to improve the standard of rental accommodation. And we should abolish the dole because the government will pass the savings on to the taxpayer. These people really aren't greedy parasites who only care about feathering their own nests, no certainly not.

Rent controlled flats are in areas that are in such high demand the landlords​ don't do anything to them in between tenants because people are queuing up. They don't even clean them usually they certainly don't upgrade anything and that will be the same practice no matter what rent they get.

Electric Sheep

<deleted quote snipped>

I suspect that if you aim at the lowest end of the AirBnB market you might find the same problems that you find at the lowest end of the rental market.

Paulw

Mod Note: Thread closed. It's going a bit all over the place now.