Rent Freeze - the mechanics of

mgn

nthclare wrote: »

Thankfully I'm not a landlord.

You as a landlord can get a break from your mortgage and not have to pay it but yet you're trying to gain on the double on the other side.

Give the tenant some slack ffs you're not the sherif of Nottingham.

Oh I can picture you there with your litte note book, ticking off the boxes.

Maybe their cars paid for already.

Come down of your high horse for minute.

For a start there is no mortgage on the property, and even if there was and the bank gave me a 3 month mortgage break, i still have to pay it back down the line with interest

And if you read my post properly in the first place you would have seen where i sad i would agree to a rent reduction but it would have to be paid back when things go back to normal.

And for the record, i have both lived in rented property and rented out property in both here and the UK for the best part of 35 years, so i know the both sides of rental market, and no the difference between a decent landlord and bad one.

mgn

beauf wrote: »

5yrs lol. People have never liked Landlords. Nothing has changed there.

We've had about 15 yrs of one sided legislation against Landlords for political point scoring. Landlord have had zero political influence.

Many landlords are accidental and the vast majority have one property. Most will be using it as a form of pension and will make very little money until it matures.

Not that aren't bad landlords and price gouging. Certainly are. But much of the negativity comes from media and politicians and most people have swallowed the click bait, hook line and sinker.

People been complaining about the shrinking of rental supply for over a decade. But don't want to hear the reality of why that is. They prefer to believe politicians and tabloids.

Spot on there beauf.

People have being complaining for years about small time landlords and the need for more professional landlords,

Well we have plenty now in the major cities and we see what their charging for their professional services, and at the rate that is happening, the will have the market to themselves soon enough.

beauf

Some have suggested the reits will bail first. I'm not so certain they won't stay and try weather the crisis. The risk is their funding will be pulled and they'll be forced to liquidate.

dogbert27

Just to clarify for people who don't seem to know:

A mortgage payment holiday does not mean you get to stop paying your mortgage for 3 months for free. The 3 months also do not get extended to the end of the mortgage period.

What happens is the premium on the mortgage gets increased after the 3 months is up so you pay a higher monthly mortgage for the remainder of the mortgage life than you would have been paying before the 3 month "holiday".

If I have to do this as a landlord to give my current tenant a break in their rental payment I will be paying higher monthly mortgage periods later meaning I would have to put more of my personal income in to the mortgage for the remainder of the mortgage versus the tenant who is financially inconvenienced for a few months.

The tenant may also within the 3 months mortgage holiday give me their 1 months notice.

Claw Hammer

beauf wrote: »

Some have suggested the reits will bail first. I'm not so certain they won't stay and try weather the crisis. The risk is their funding will be pulled and they'll be forced to liquidate.

After this is over, venture capital will be diverted into recovering sectors. Irish property assets may well be liquidated to provide funding for this. There will be cheap shares in hotel chains, airlines and other badly affected industries. I would expect the number of foreign owned property units in Ireland to diminish in consequence.

nthclare

mgn wrote: »

Come down of your high horse for minute.

For a start there is no mortgage on the property, and even if there was and the bank gave me a 3 month mortgage break, i still have to pay it back down the line with interest

And if you read my post properly in the first place you would have seen where i sad i would agree to a rent reduction but it would have to be paid back when things go back to normal.

And for the record, i have both lived in rented property and rented out property in both here and the UK for the best part of 35 years, so i know the both sides of rental market, and no the difference between a decent landlord and bad one.

Im actually out on a horse today lol cantering around the local roads, within a 2 km range.

Im using this App

https://www.mapdevelopers.com/draw-circle-tool.php

Its an actual Clydesdale, big round hooves on her.

Having no mortgage on the property is a great asset, to have.

Couldn't you take a small hit, because believe you me property prices are going to be the least of our problems in a few months.

Its your own business what you charge its your personal choice.
But soon enough there's a lot of people going to go from 2000 a week to 350 and no way will they be able to climb back to these levels again, for a good few years.

Ceo's and management are going to take a huge cul in their salaries.

My neighbour, down the road bless his cotton socks bought a BMW 201 recently and he's up to his eyeballs in it, his position in his company will be cut by 60% imagine that.
I met him down the boreen and he was ruined, this is going to be like the big crash in 1929 the vulture landlords are going to be at the bottom of the pit too...

You're very lucky to have no mortgage, and I'm in the same position as yourself and have a state job which is secure.

I'm banking on the local tourism trade to make a good comeback when this is all over. Because we won't be able to afford to fly away.

By the way sorry for the offensive response to your post.

Ill own my niggling nature that rares its ugly head now and again.

Its your own business what you charge and I hope everything works out for you.

handlemaster

nthclare wrote: »

Thankfully I'm not a landlord.

You as a landlord can get a break from your mortgage and not have to pay it but yet you're trying to gain on the double on the other side.

Give the tenant some slack ffs you're not the sherif of Nottingham.

Oh I can picture you there with your litte note book, ticking off the boxes.

Maybe their cars paid for already.

Not have to pay it. That's not true.

handlemaster

Can we have a show of hands for those saying that landlords should help out their tenants by reducing the rent and are helping someone themselves with their rental payments at the moment. Just a quick reply with yes or no.

garhjw

handlemaster wrote: »

Can we have a show of hands for those saying that landlords should help out their tenants by reducing the rent and are helping someone themselves with their rental payments at the moment. Just a quick reply with yes or no.

I’m a landlord but no mortgages. I am working with 1 tenant who engaged with me early. I’m happy to help out as I have no debt to service. Might have a different view if I had a mortgage

dogbert27

handlemaster wrote: »

Can we have a show of hands for those saying that landlords should help out their tenants by reducing the rent and are helping someone themselves with their rental payments at the moment. Just a quick reply with yes or no.

I'm an accidental landlord.

I'm already giving personal income to top up the mortgage payments on the property.

If I decrease the rent for the tenants I have to give more of my personal income which is taking away from my family budget.

Still undecided what to do.

Starkystark

I’d like to know what everyone’s opinion would be on house shares?

I’m renting a room in a house with 3 others however I am living at my home address with my parents since 14th March; as to be honest I couldn’t hack the housemates thinking they were invincible to corona; treating it like a holiday and practically licking the rails of Dublin bus any chance they could.

Where do I stand with bills? The 3 of them are working from that address. Do I have to pay for their comfort even though I’m not there? Paying rent is bad enough for a place that I’m not even in at the moment.

Samuel T. Cogley

Starkystark wrote: »

I’d like to know what everyone’s opinion would be on house shares?

I’m renting a room in a house with 3 others however I am living at my home address with my parents since 14th March; as to be honest I couldn’t hack the housemates thinking they were invincible to corona; treating it like a holiday and practically licking the rails of Dublin bus any chance they could.

Where do I stand with bills? The 3 of them are working from that address. Do I have to pay for their comfort even though I’m not there? Paying rent is bad enough for a place that I’m not even in at the moment.

They sound like dickheads. I'd just move out and find somewhere new once all this blows over.

Starkystark

Starkystark wrote: »

I’d like to know what everyone’s opinion would be on house shares?

I’m renting a room in a house with 3 others however I am living at my home address with my parents since 14th March; as to be honest I couldn’t hack the housemates thinking they were invincible to corona; treating it like a holiday and practically licking the rails of Dublin bus any chance they could.

Where do I stand with bills? The 3 of them are working from that address. Do I have to pay for their comfort even though I’m not there? Paying rent is bad enough for a place that I’m not even in at the moment.

I'm currently in that situation. I'd be unhappy if someone decided they didn't want to pay their share regardless of if they are there or not. Our bills were never based on per person usage basis. If we were paying our individual bills (which is impossible to measure right now), I'd switch off all these bitcoin miners. That's a joke

Vita nova

Starkystark wrote: »

I’d like to know what everyone’s opinion would be on house shares?

I’m renting a room in a house with 3 others however I am living at my home address with my parents since 14th March; as to be honest I couldn’t hack the housemates thinking they were invincible to corona; treating it like a holiday and practically licking the rails of Dublin bus any chance they could.

Where do I stand with bills? The 3 of them are working from that address. Do I have to pay for their comfort even though I’m not there? Paying rent is bad enough for a place that I’m not even in at the moment.

Unfortunately yes, you have to share the bills even though you're not there, that's the norm. In the same way as the frugal, environmentally conscious housemate pays the same as the profligate housemate in their tee-shirt with their personal electric heater and the central heating on and their bedroom window fully open. It's one of the inescapable downsides of sharing a house or flat.

nthclare

handlemaster wrote: »

Not have to pay it. That's not true.

I know thanks for the feedback, I'm slightly dyslexic with my posts.
Sorry for the mix up

Pete123456

Not to derail the conversation,

But assuming this rent freeze is currently in place, does this mean that a rent increase that should take effect 30th Mar is now postponed to 30 June?

Can the Landlord further review the rent? Can they look for the difference not paid in the 3 month freeze?

For info, a “company” that only has a PO Box and no more owns 40+ of the 50 apartments and 50+ other houses in the estate is the “landlord”.

Thanks a mill

beauf

I expect this will be extended...

Graham

Pete123456 wrote: »

Not to derail the conversation,

But assuming this rent freeze is currently in place, does this mean that a rent increase that should take effect 30th Mar is now postponed to 30 June?

From the Bill EMERGENCY MEASURES IN THE PUBLIC INTEREST (COVID-19) BILL 2020

Prohibition on rent increases under Act of 2004
6. Notwithstanding the Act of 2004, an increase in the rent under the tenancy of a dwelling—
(a) that, but for this section, would take effect during the emergency period shall not take effect during that period, and
(b) shall not be payable in respect of any period falling during the emergency period.

Roberto_gas

Name:
Me
Dermot 08:52
Hello. How may I help you?
Me 08:53
Hi there....my rent is bound to be increased from april 2020. Does under the emergency measures declared by gov this will continue ? or it should be freezed ?
Dermot 08:53
The rent review will be paused until after this emergency period
Me 08:54
So if I have got a notice in Jan for increase in rent in April, i will have to pay the increase rent in april ?
Dermot 08:54
No, you should have been given 90 days notice before it starts. That 90 days has now paused until after the crisis
Me 08:55
Ok so do i contact my landlord ?
and say there should not be any rent increase ?
Dermot 08:55
You should discuss it with your landlord
Me 08:56
I will but what is the right course of action here ?
Read
i want to know that before contacting them
Delivered
Dermot 08:57
There is no exact right course of action, the rent increase is paused and if your landlord is unaware you should inform them


Chat with PRTB today morning !

Roberto_gas

Pete123456 wrote: »

Not to derail the conversation,

But assuming this rent freeze is currently in place, does this mean that a rent increase that should take effect 30th Mar is now postponed to 30 June?

Can the Landlord further review the rent? Can they look for the difference not paid in the 3 month freeze?

For info, a “company” that only has a PO Box and no more owns 40+ of the 50 apartments and 50+ other houses in the estate is the “landlord”.

Thanks a mill

As per PRTB - Rent review is put on hold and rent increase has been frozen during the emergency period.

beauf

Any landlord would be an idiot to continue with a rent increase at this time.

Get in all in writing and let the LL that you rather than argue with the LL youd other for the RTB to file on in it arbitration.

Any LL who raised prices is likely to be heavily fined IMO. But don't tell the LL that, let them sleep walk into it, and let the PRTB tell them.

m5ex9oqjawdg2i

beauf wrote: »

Any landlord would be an idiot to continue with a rent increase at this time.

Get in all in writing and let the LL that you rather than argue with the LL youd other for the RTB to file on in it arbitration.

Any LL who raised prices is likely to be heavily fined IMO. But don't tell the LL that, let them sleep walk into it, and let the PRTB tell them.

Landlords are people too you know. Such hatred towards a group of people is so immature.

beauf

beauf wrote: »

Any landlord would be an idiot to continue with a rent increase at this time.

Get in all in writing and let the LL that you rather than argue with the LL youd other for the RTB to file on in it arbitration.

Any LL who raised prices is likely to be heavily fined IMO. But don't tell the LL that, let them sleep walk into it, and let the PRTB tell them.

Now is the time to have a compassionate relationship with everyone

beauf

Avah Fancy Blackboard wrote: »

Landlords are people too you know. Such hatred towards a group of people is so immature.

I like the strawman. I should reply why do you hate tenants...

Even before this crisis the govt had removed almost all rights from landlords. This crisis has changed everything. The economy is paused for 3-6 months. A Landlord has to approach this without emotion and rationalise from the viewpoint of any small business at this time.

beauf

[Deleted User] wrote: »

Now is the time to have a compassionate relationship with everyone

For sure.

How ever for many small business it's a matter financial survival after the crisis. In this case it's a large "professional" landlord. They probably don't have staff working at the moment.

Roberto_gas

beauf wrote: »

Any landlord would be an idiot to continue with a rent increase at this time.

Get in all in writing and let the LL that you rather than argue with the LL youd other for the RTB to file on in it arbitration.

Any LL who raised prices is likely to be heavily fined IMO. But don't tell the LL that, let them sleep walk into it, and let the PRTB tell them.

I would not do that do be honest....LL has been awesome so far....happy with increase even if they tell me otherwise

m5ex9oqjawdg2i

beauf wrote: »

I like the strawman. I should reply why do you hate tenants...

Even before this crisis the govt had removed almost all rights from landlords. This crisis has changed everything. The economy is paused for 3-6 months. A Landlord has to approach this without emotion and rationalise from the viewpoint of any small business at this time.

I don't think you understand what a strawman is.

You literally said:

beauf wrote: »

Any LL who raised prices is likely to be heavily fined IMO. But don't tell the LL that, let them sleep walk into it, and let the PRTB tell them.

It's funny how you mention the above but you expect landlords to approach it without emotion. :rolleyes:

beauf

Roberto_gas wrote: »

I would not do that do be honest....LL has been awesome so far....happy with increase even if they tell me otherwise

I'm confused. Did you post about your LL before, I can't find it?

Roberto_gas

beauf wrote: »

I'm confused. Did you post about your LL before, I can't find it?

I posted about increase in rent from April !

beauf

Avah Fancy Blackboard wrote: »

I don't think you understand what a strawman is.

You literally said:



It's funny how you mention the above but you expect landlords to approach it without emotion. :rolleyes:

Its dumb to raise rents. Anyone that dumb isn't going to listen to reason. So don't waste your time and sanity. No point in getting hysterical about it. That is not anti LL or anti tenant as you are insinuating. Its just being pragmatic.

What exactly is your point?