City Centre - Rents Question for people living in city centre

FutureGuy

Hi all,
Just received notice today that the rent in our two bedroom apartment is going up to 1000/month from 850/month. The last increase was from 700/month.

Might I ask people living in the city what your rent is like, where you are living and when was the last time you signed a lease? If you don’t want to discuss publicly, I’d certainly appreciate a PM.

Rent going up my nearly 50% since 2015 is really difficult to take. :eek:

panda100

I'm paying €1100 for a two bed apartment in The Strand. Leaving there soon as I've brought my own gaff and I have no doubt the landlord will put up the rent to at least €1200 if not more.

le_girl

Two bed apartment in Riverpoint just went up from €750 to €1100. I refused and moved (as did lots of others it seems), they're now asking for €1200 on Daft.

masterboy123

My understanding is that they can't increase rent in the first 2 years of the lease. Correct me If I am wrong.

le_girl wrote: »

Two bed apartment in Riverpoint just went up from €750 to €1100. I refused and moved (as did lots of others it seems), they're now asking for €1200 on Daft.

le_girl

masterboy123 wrote: »

My understanding is that they can't increase rent in the first 2 years of the lease. Correct me If I am wrong.

Yep that's right, it went up from €650 to €750 two years ago (I'd already been there for a while). Then exactly two years later they did the most recent rent review.

FutureGuy

le_girl wrote: »

Two bed apartment in Riverpoint just went up from €750 to €1100. I refused and moved (as did lots of others it seems), they're now asking for €1200 on Daft.

That apartment up on Daft is what they are using as a comparative apartment outside our apartment block.

le_girl

FutureGuy wrote: »

That apartment up on Daft is what they are using as a comparative apartment outside our apartment block.

It might be a bit misleading because they haven't actually rented any apartments at that price yet. O'Dwyer are based in Dublin (they took over a batch of Riverpoint apartments earlier this year) while KMPM are pricing them at €1000 - €1100 which is probably more realistic.

keane2097

1000 seems pretty standard for a decent place in the city at the moment. We're paying 950 for a two bed on Clancy's Strand since April but the one above us went up for 1100 not long after.

zulutango

700 per month. Up from 650 two years ago. Getting away with murder I think. It's also a really nice place.

TheChizler

When was the last rent review? Rent can only be reviewed once every 24 months currently.

FutureGuy

The last review was two years ago and everything is according to regulations - just to say that the agents are all above board and very respectful.

masterboy123

Sweet. Wondering what street is that?

zulutango wrote: »

700 per month. Up from 650 two years ago. Getting away with murder I think. It's also a really nice place.

Dick Rimmington

700 a month for a 2 bedroom here, lovely place too. i'm not here long enough to have had an increase yet but i have faith it'll be quite reasonable when/if it happens.

i dont want to post the street i live on but it is around the brown thomas area, in the heart of the city

Hooked

Jesus lads, not gloating... property bubble bursting and my house price dropping and all that... but...

I'm fair thankful to be sitting in my own home, 3 bed, lovely area, near shops, UL, work and town - and very nice (if slightly small) gaff - with a mortgage of 538 a month.

Those rent prices are shocking!

FutureGuy

Hooked wrote: »

Jesus lads, not gloating... property bubble bursting and my house price dropping and all that... but...

I'm fair thankful to be sitting in my own home, 3 bed, lovely area, near shops, UL, work and town - and very nice (if slightly small) gaff - with a mortgage of 538 a month.

Those rent prices are shocking!

It’s getting a bit crazy. 20 months ago, we were paying 700/m for a very nice 2 bed apartment with free bin, free underground car parking, free basic internet which can be upgraded and great security. 10 seconds walk from O Connell Street. Unfortunately, house prices have also rocketed and there is nothing in the city or surburbs that is reasonably priced and houses are going for 20-30% above asking in many places. May just buy out in the county at this rate

Irish_rat

Hooked wrote: »

Those rent prices are shocking!

Agreed very happy to have bought over a year ago.

Rent in my mind is dead money especially when you plan to be living and working here for the foreseeable future.

Instead of paying someone else's mortgage you can be paying off your own.

Saw some house advertising a room for 600/month in my estate which would effectively cover my mortgage repayment.

MarkR

Let's keep it to the topic at hand, rather than the renting / mortgage thing.

Thanks

Mark