Media: Rent-a-disaster: when a landlord decides to sell

The_Conductor

http://www.independent.ie/business/personal-finance/property-mortgages/rentadisaster-when-a-landlord-decides-to-sell-36059160.html

In this case- I imagine the tenant's cat caused as much trouble for the tenant in trying to secure alternate accommodation- as did anything else.

jamesthepeach

That poor cat. The silent victims of government policy eh

What we have are landlords who were stuck renting as they were in negative equity now getting out because they are not allowed to increase the rent enough to make a profit.
As soon as they are close to break even they are out like a shot.

Then we have the landlords who were renting at lower rates getting stung by the rent caps too. They are either renovating or selling.

And the landlords who are just scared of rogue tenants ruining their lives.

And the landlords who are afraid of the next barmy legislation to appear.

And the landlords going to short term letting so as not to come under the oppressive legislation.

Then you have no new investors being attracted in. They would be mad.

All contirbuting to the switch dwindling supply of rentals for humans, and even more so to the dwindling supply for cats.

Have I missed anyone else who have been frightened into getting out?

The Student

jamesthepeach wrote: »

That poor cat. The silent victims of government policy eh

What we have are landlords who were stuck renting as they were in negative equity now getting out because they are not allowed to increase the rent enough to make a profit.
As soon as they are close to break even they are out like a shot.

Then we have the landlords who were renting at lower rates getting stung by the rent caps too. They are either renovating or selling.

And the landlords who are just scared of rogue tenants ruining their lives.

And the landlords who are afraid of the next barmy legislation to appear.

And the landlords going to short term letting so as not to come under the oppressive legislation.

Then you have no new investors being attracted in. They would be mad.

All contirbuting to the switch fling supply of rentals for humans, and even more so to the dwindling supply for cats.

Have I missed anyone else who have been frightened into getting out?

Expect more and more landlords selling up. You have hit the nail on the head.

The_Conductor

jamesthepeach wrote: »

That poor cat. The silent victims of government policy eh

Thanks I needed a laugh.......

As for the rest of your post- in my opinion- you've hit it on the head.
However- whats not being mentioned- is the buyer of this unit- is likely freeing up a rental unit elsewhere- so selling it- isn't necessarily reducing the quantity of available housing stock- it remains a constant- actually, as the tenant is going house sitting, and the buyer has vacated a unit- arguably, the housing stock has gone up by 1.

Miaoowwww?

Browney7

The_Conductor wrote: »

Thanks I needed a laugh.......

As for the rest of your post- in my opinion- you've hit it on the head.
However- whats not being mentioned- is the buyer of this unit- is likely freeing up a rental unit elsewhere- so selling it- isn't necessarily reducing the quantity of available housing stock- it remains a constant- actually, as the tenant is going house sitting, and the buyer has vacated a unit- arguably, the housing stock has gone up by 1.

Miaoowwww?

But if everyone has to move back in with the parents to get on the glorious property ladder it only frees up a room in suburbia! Swings and roundabouts...

jamesthepeach

The_Conductor wrote: »

Thanks I needed a laugh.......

As for the rest of your post- in my opinion- you've hit it on the head.
However- whats not being mentioned- is the buyer of this unit- is likely freeing up a rental unit elsewhere- so selling it- isn't necessarily reducing the quantity of available housing stock- it remains a constant- actually, as the tenant is going house sitting, and the buyer has vacated a unit- arguably, the housing stock has gone up by 1.

Miaoowwww?

If they were freeing g up a rental unit in Dublin then yes. But what if it's a rental unit in say Kildare or they are living with their parents. Chances are higher these days that stock reduces on a transaction.

Wait til the tenant goes to the rtb when the house sitter wants their property back when they come home in 6 months or so. They thought they were getting a house sitter for a few months. The rtb thinks they have the house to the tenant forever.
Lol.

The_Conductor

Browney7 wrote: »

But if everyone has to move back in with the parents to get on the glorious property ladder it only frees up a room in suburbia! Swings and roundabouts...

The woman in the article said it was two storeys, up and down- I assume this means its a 2 bed mid terrace- however, I get your point.

dashoonage

Browney7 wrote: »

But if everyone has to move back in with the parents to get on the glorious property ladder it only frees up a room in suburbia! Swings and roundabouts...

Yes but that room can be used as DIG's to solve the student housing issue! see the government had this right all along!

Browney7

The_Conductor wrote: »

The woman in the article said it was two storeys, up and down- I assume this means its a 2 bed mid terrace- however, I get your point.

I was being facetious making reference to the other story this morning! Another way of looking at it from the woman's perspective is she had a great deal for a few years and it's now averaging out if she moves. People can't see an end to the high rents though so it's gaining traction in the media the past while.

spaceHopper

jamesthepeach wrote: »

That poor cat.

Have I missed anyone else who have been frightened into getting out?

Yes you have it wall wrong, they say they want to move to the european model of home renting v home ownership but it's bull, they want to scare you into buying on over price pile of bricks or a share of an over priced fire trap.

jamesthepeach

spaceHopper wrote: »

Yes you have it wall wrong, they say they want to move to the european model of home renting v home ownership but it's bull, they want to scare you into buying on over price pile of bricks or a share of an over priced fire trap.

From 2009 to 2015 people were preaching about the merits of buying. I would love some of those to come back now and let us know.if their views have changed. I would have agreed with them at the time but not anymore.

The problem is that the market cannot settle as the interference from the govt at every whim.
It's like trying keep the water in a basin. Keep trying to correct it and it will just get Wilder and Wilder until it should only we the sides. Leave it alone down on the table for a while and it's totally calm.

Unless govt interference stops it will never be safe to rent. Sure it's not even safe to buy anymore either I think.