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RTE report- pace of rent inflation slowing- but landlords leaving sector

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    #62
    Borzoi
    Registered Users Posts: 2,876 ✭✭✭Borzoi


    robp wrote: »
    Unfurnished apartments might help keep costs low in Germany but it is probably only a limited factor. Factors that are probably more important are Germanys far older population, smaller families more high rise often low immigration rates means there is just less demand over there.

    Very valid points, as to why rates are different. You could add tax rates, risk levels, mortgage rates etc

    However what I was trying to point out that if you just look at the headline monthly rate for similar properties, many people would not realise that the German rate is for a "white box"


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    #63
    JJayoo
    Registered Users Posts: 6,561 ✭✭✭JJayoo


    Landlords are leaving because they can sell for a high price it has nothing to do with them struggling to make money off renting


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    #64
    Fol20
    Registered Users Posts: 3,624 ✭✭✭Fol20


    JJayoo wrote: »
    Landlords are leaving because they can sell for a high price it has nothing to do with them struggling to make money off renting

    Yes prices are hogher now than what they once were 4 years ago however some people have owned places for decades that are selling. Rental investment is no longer as an attractive investment oppurtunity it used to be so many are getting out which can be ok if others are filling their spaces however now it is declining and declining with no new blood filling the ranks.


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    #65
    Dav010
    Registered Users Posts: 14,229 ✭✭✭✭Dav010


    JJayoo wrote: »
    Landlords are leaving because they can sell for a high price it has nothing to do with them struggling to make money off renting

    For some that might be true, but with rents at such high levels, retaining an appreciating asset while receiving a good income should be very appealing. You would think more investors should be buying BTL properties, instead they are leaving in significant numbers, effectively going against normal market practices.

    Hard to explain that in any other terms than, no matter how much rent you get, it's not worth the risk/hassle of being a single/small number of properties landlord. Thanks to pro tenant legislation, rental property numbers are falling at a time when rents are increasing. That is quite an achievement.


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    #66
    JJayoo
    Registered Users Posts: 6,561 ✭✭✭JJayoo


    I think the age of the landlords selling would be an interesting stat. I would imagine a large % off the landlords selling are in their 50/60s and a 250k lump sums is.much more appealing at this stage of their life.

    The 30/40 year old landlord on the other hand will be holding onto the property


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    #67
    Dav010
    Registered Users Posts: 14,229 ✭✭✭✭Dav010


    JJayoo wrote: »
    I think the age of the landlords selling would be an interesting stat. I would imagine a large % off the landlords selling are in their 50/60s and a 250k lump sums is.much more appealing at this stage of their life.

    The 30/40 year old landlord on the other hand will be holding onto the property

    Would you think there are many 30/40 year old landlords? I doubt it. I suspect most current landlords bought before the recession or were cash buyers during it, I'd say the age profile would be more mid 40s to mid 60s


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    #68
    runawaybishop
    Registered Users Posts: 9,504 ✭✭✭runawaybishop


    JJayoo wrote: »
    Landlords are leaving because they can sell for a high price it has nothing to do with them struggling to make money off renting

    So why are they not being replaced by new landlords?

    Stupid government regulations, that's why.


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    #69
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,279 Mod ✭✭✭✭The_Conductor


    JJayoo wrote: »
    I think the age of the landlords selling would be an interesting stat. I would imagine a large % off the landlords selling are in their 50/60s and a 250k lump sums is.much more appealing at this stage of their life.

    The 30/40 year old landlord on the other hand will be holding onto the property

    I personally know 4 landlords in the sector who are exiting at the moment.
    3 are in their 30s- two are selling one is moving out of their current (rented unit) and into the unit they own themselves. The 4th person is in his late 50s and has at least 8 or 9 units (I don't know how many- and I'm not sure he'd admit how many if asked). He is jumping- before he gets stuck with tenants he doesn't want- with a few exceptions- he has a couple of tenants who will be the last ones he gets rid of.

    I also have a number of immediate family members (I have 6 siblings) who intend to come back to Ireland- having emigrated during the downturn- all of whom intend to claim their apartments back for personal use.

    86% of registered tenancies in Ireland are from landlords who own 1 or 2 units- I'd love to know how many of them are living abroad- I suspect it would set alarm bells ringing..........


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