Dublin - Significant reduction in rents coming?

brisan

The_Conductor wrote: »

Nice bit of research there Assetbacked.
Hopefully the RTB/DAFT stats back up this trend.

What will happen is those who managed to get the going rate will reduce- those who got caught out at below market rates, won't budge (and it would be irrational to expect them to).

Property Owners association (or whatever they're called) say there has been an exit of another 4k landlords and 8k tenancies from the market since January.
Not so good for prospective tenants.

A lot of those landlords will have sold to other landlords as we did a few years back
The 8k tenancies less is a bit of a red herring as they are new tenancies and people were not moving during the lockdown
WFH and unemployment rates plus foreign nationals returning home will push Dublin rental rates down

The_Conductor

brisan wrote: »

A lot of those landlords will have sold to other landlords as we did a few years back
The 8k tenancies less is a bit of a red herring as they are new tenancies and people were not moving during the lockdown
WFH and unemployment rates plus foreign nationals returning home will push Dublin rental rates down

Its going to take 12-18 months for the dust to settle- it would be optimistic to look at stats from today (or a month's time) and suggest that it paints a valid picture.

The other stat doing the rounds yesterday- is a 42% reduction in the number of tenancies registered (or re-registered) with the RTB (on this time last year). One would have to put a question mark over this- given the requirement for all landlords to register/rergister all tenancies annually with the RTB.........

brisan

The_Conductor wrote: »

Its going to take 12-18 months for the dust to settle- it would be optimistic to look at stats from today (or a month's time) and suggest that it paints a valid picture.

The other stat doing the rounds yesterday- is a 42% reduction in the number of tenancies registered (or re-registered) with the RTB (on this time last year). One would have to put a question mark over this- given the requirement for all landlords to register/rergister all tenancies annually with the RTB.........

Which in practice the majority of small landlords do not do as a)cant be bothered
b) dont know they have to

Assetbacked

brisan wrote: »

I know that clontarf area quite well
It looks it was a BTL and the owner who thought he was on to a good thing is panicking over the mortgage.
If you are dependant on public transport the bus service is not great and the DART is a bit of a walk .
That coast road is notoriously busy at peak times with cars and on weekends with visitors to Howth
However its a stones throw (literally ) from the coast with great walks
St annes park is a 10 min walk as well
All in all a great location

On your bike and you'd be at the docklands in 15 minutes! If it was still there next February, I'd be viewing it I have to say

brisan

Assetbacked wrote: »

On your bike and you'd be at the docklands in 15 minutes! If it was still there next February, I'd be viewing it I have to say

If you are a cyclist its a great location
Cycle tracks everywhere and great runs up Howth head and out to Portmarnock and Malahide

JimmyVik

The_Conductor wrote: »

Its going to take 12-18 months for the dust to settle- it would be optimistic to look at stats from today (or a month's time) and suggest that it paints a valid picture.

The other stat doing the rounds yesterday- is a 42% reduction in the number of tenancies registered (or re-registered) with the RTB (on this time last year). One would have to put a question mark over this- given the requirement for all landlords to register/rergister all tenancies annually with the RTB.........

Ive read accounts on here of ex-landlords having sold up and getting letters for years from the RTB about re registering. The just ignore them because they dont even have the property anymore, but the RTB keep sending them notices.

brisan

JimmyVik wrote: »

Ive read accounts on here of ex-landlords having sold up and getting letters for years from the RTB about re registering. The just ignore them because they dont even have the property anymore, but the RTB keep sending them notices.

If a landlord or a tenant rings the RTB the first question they are asked is
is the property registered ?
For a tenant it makes no difference if the property is registered or not
For the landlord he has to register to proceed with a complaint.
The register is that out of date its laughable
Re registering tenancies should be compulsory with hefty fines for non compliance,
instead of the usual
Hang on and I will send you out the forms AND YOU CAN FILL THEM IN

brisan

JimmyVik wrote: »

Ive read accounts on here of ex-landlords having sold up and getting letters for years from the RTB about re registering. The just ignore them because they dont even have the property anymore, but the RTB keep sending them notices.

Maybe a quick email to the RTB explaining the situation would help all involved

Claw Hammer

JimmyVik wrote: »

Ive read accounts on here of ex-landlords having sold up and getting letters for years from the RTB about re registering. The just ignore them because they dont even have the property anymore, but the RTB keep sending them notices.

When a property ceases to be let, the landlord is supposed to notify the RTB. If anyone is getting letters for years after, it is their own fault.

JimmyVik

Claw Hammer wrote: »

When a property ceases to be let, the landlord is supposed to notify the RTB. If anyone is getting letters for years after, it is their own fault.

Well one or two of them said they dont really care at all.
Like a game to see how long before the RTB figure out they are wasting stamps.
Probably some of the people posting in this thread.

polaco

Assetbacked wrote: »

No, we're actually faring well financially during the pandemic. We have a lease until February 2021 but won't be staying on as we want to rent a house with a garden in order to have a cat. If we were staying on and our lease was due to finish in the next couple of months I wouldn't try to break the balls of the landlord but I would say that we are reducing our budget by 200 a month as we noticed there are lots of apartments we would move to within that price range so this is our reason for moving and leave it open like that.

Just on rents reducing, there is definitely a trend emerging of quite big rent drops. My search on Daft is for houses at 2300 max rent;

https://www.daft.ie/dublin/houses-for-rent/dublin-2/eblana-villas-hogan-place-dublin-2-dublin-2036048/ this is a 2 bedroom house in a prime location near Grand Canal Dock and has dropped its rent by 250 to 2000. It has been listed since 3 June and from what I can tell, it is quite nice inside.

https://www.daft.ie/dublin/houses-for-rent/ringsend/6-gordon-street-ringsend-ringsend-dublin-2051392/ not a price drop but 288 views in a day for a 2 bed house in Ringsend at 2k is pithy.

https://www.daft.ie/dublin/houses-for-rent/clontarf/5-saint-josephs-square-clontarf-dublin-2044077/ a nice looking house in Clontarf has dropped from 2.5k to 2.1k since it was first listed on 25 June.

https://www.daft.ie/dublin/houses-for-rent/donnybrook/pembroke-cottages-donnybrook-dublin-2048123/ a D4 cottage has knocked 210 off its asking price since it was listed on 7 July so it is now asking 1990. It's a bit small but I'd live in it (repplacing the couches and getting a coffee table), it's grand.

https://www.daft.ie/dublin/houses-for-rent/goatstown/birchfield-lawn-goatstown-dublin-2051349/ a 4 bedroom house in Goatstown for less than 2k, that's a first! I'm guessing it had students before as it looks terrible inside.

https://www.daft.ie/dublin/houses-for-rent/harolds-cross/35-harolds-cross-cottages-harolds-cross-dublin-2025783/ this house in Harold's Cross has been listed since April, originally at 2k and now is looking for 1.8k

https://www.daft.ie/dublin/houses-for-rent/dublin-7/arbour-hill-stoneybatter-dublin-7-dublin-2030470/ 2.2k to 1.9k since it was first listed in mid-May in Stoneybatter. Really nice inside as well.

https://www.daft.ie/dublin/houses-for-rent/dublin-2/44-sandwith-street-upper-dublin-2-dublin-2034398/ a house on Sandwith St, great location for workers in Grand Canal Dock and for those who want to be near Trinity/Grafton St. 100 off the asking since it was first listed at the end of May.

none of those places says pets allowed how you are going to bring cat? I am dog owner and I know how hard is to find place I have been rejected so many times once I mention I have 12 years old Lab

Claw Hammer

polaco wrote: »

none of those places says pets allowed how you are going to bring cat? I am dog owner and I know how hard is to find place I have been rejected so many times once I mention I have 12 years old Lab

The Lab hasn't long to live anyway. Might be time to take it for a one-way trip.

WeeCuppaCha

Claw Hammer wrote: »

The Lab hasn't long to live anyway. Might be time to take it for a one-way trip.

WTF?

The_Conductor

Claw Hammer wrote: »

The Lab hasn't long to live anyway. Might be time to take it for a one-way trip.

That is more than a bit heartless Claw Hammer.
Please watch your posting here.

Eric Cartman

polaco wrote: »

none of those places says pets allowed how you are going to bring cat? I am dog owner and I know how hard is to find place I have been rejected so many times once I mention I have 12 years old Lab

Im going to be honest. Anyone getting a pet before they own a home is playing a losing game. Im not saying pets are bad and by all means I wish all the best for you and your dog but to others who have not got pets yet, no matter how much they like animals, its a commitment that locks you out of 95% of rentals here.

polaco

Eric Cartman wrote: »

Im going to be honest. Anyone getting a pet before they own a home is playing a losing game. Im not saying pets are bad and by all means I wish all the best for you and your dog but to others who have not got pets yet, no matter how much they like animals, its a commitment that locks you out of 95% of rentals here.

I know that.
10 years ago my dog was abandoned by previous owner she left the country and I couldn't give dog away. She's been part of my family since.
Few years ago I was diagnosed with neurological condition thanks to my dog I am still walking despite of the fact my condition is worsening. My dog is very attached to me and even sometimes I am in pain I always make sure she had a proper walk. Yes maybe that sounds dramatic but my dog is main reason I am still walking.

polaco

Claw Hammer wrote: »

The Lab hasn't long to live anyway. Might be time to take it for a one-way trip.

I don't know what to say.
I really feel sorry for you.

Assetbacked

polaco wrote: »

none of those places says pets allowed how you are going to bring cat? I am dog owner and I know how hard is to find place I have been rejected so many times once I mention I have 12 years old Lab

If you're paying 2k for a rental I don't think the landlord has much of a leg to stand on with regard to pets; essentially they can PFO. My attitude is that concerns over a kid should be worse and you're not going to tell someone they can't have a kid. That was my attitude in two previous rentals where we got our foster cats (where you take care of them for a few weeks/months until they find an owner) and of course we got our deposit back as the pet has no automatic correlation with the place being destroyed. There is a security deposit in any event and in the extremely unlikely event there would be more damage than that from a ca, there are other avenues to pursue.

JimmyVik

Assetbacked wrote: »

If you're paying 2k for a rental I don't think the landlord has much of a leg to stand on with regard to pets; essentially they can PFO. My attitude is that concerns over a kid should be worse and you're not going to tell someone they can't have a kid. That was my attitude in two previous rentals where we got our foster cats (where you take care of them for a few weeks/months until they find an owner) and of course we got our deposit back as the pet has no automatic correlation with the place being destroyed. There is a security deposit in any event and in the extremely unlikely event there would be more damage than that from a ca, there are other avenues to pursue.

My Dad has a pathological fear of dogs.
Some friends were coming from the UK to stay and announced they were bringing the dog. Small enough, but not that small either.
My Dad said no way. No dogs in this house.
So they arrived and in they walked with the dog. We all sniggered when we saw this. My Dad arrived in from work, saw the dog and got triggered.
They thought it was funny and that they would get around him. We knew this wasnt going to happen. He told them to leave the dog in the garden and not bring it in the house.
They ended up leaving and they never spoke again. to this day, about 20 years later.
Amazing how pets pull peoples strings in all sorts of ways.
But still they were told not to bring the dog. Simple request.

errlloyd

JimmyVik wrote: »

Amazing how pets pull peoples strings in all sorts of ways.
But still they were told not to bring the dog. Simple request.

I am probably with your dad on this one.

I think the "genuinely afraid of dogs group" get a bit shafted by the "just don't like dogs group" and as a result, they probably misinterpreted your father's discomfort with dislike.

But even still you can't just arrive with an animal when you have been asked not to. Even if your dad just didn't want a dog in the house because he had an irrational concern it would chew his shoes, that'd still be grounds enough for a relatively firm "get it out".

TSQ

Assetbacked wrote: »

If you're paying 2k for a rental I don't think the landlord has much of a leg to stand on with regard to pets; essentially they can PFO. My attitude is that concerns over a kid should be worse and you're not going to tell someone they can't have a kid. That was my attitude in two previous rentals where we got our foster cats (where you take care of them for a few weeks/months until they find an owner) and of course we got our deposit back as the pet has no automatic correlation with the place being destroyed. There is a security deposit in any event and in the extremely unlikely event there would be more damage than that from a ca, there are other avenues to pursue.

Well, if you rent an apartment you could very well be out on your ear for breaking the rules. Many apartment blocks have a no pets rule in the lease between the owner and the owners’ management company. And generally speaking, people dont let their kids piss and shxt on the floor, chew the furniture and scratch the doors, but the same folks are incapable of training a dog.

JimmyVik

errlloyd wrote: »

I am probably with your dad on this one.

I think the "genuinely afraid of dogs group" get a bit shafted by the "just don't like dogs group" and as a result, they probably misinterpreted your father's discomfort with dislike.

But even still you can't just arrive with an animal when you have been asked not to. Even if your dad just didn't want a dog in the house because he had an irrational concern it would chew his shoes, that'd still be grounds enough for a relatively firm "get it out".

Yeah hes actually terrified of them. We always laughed at him, but id liken it to my mums fear of rats, its that strong.

Assetbacked

TSQ wrote: »

Well, if you rent an apartment you could very well be out on your ear for breaking the rules. Many apartment blocks have a no pets rule in the lease between the owner and the owners’ management company. And generally speaking, people dont let their kids piss and shxt on the floor, chew the furniture and scratch the doors, but the same folks are incapable of training a dog.

:rolleyes:

This is where individual landlords do themselves no favours, these types of biases and an OTT attraction to the property whilst not appreciating that a tenant is paying to live in the house as a primary residence, not the landlord. Anyway, it is what it is and I'm comfortable to justify my stance with respect to a rental on the basis as set out above (i.e. paying good money, security deposit and unwritten but general reasonableness so would not hesitate to cover actual damage, even if caused by accident). As a tenant you need to meet unreasonableness with stubbornness.

Assetbacked

JimmyVik wrote: »

My Dad has a pathological fear of dogs.
Some friends were coming from the UK to stay and announced they were bringing the dog. Small enough, but not that small either.
My Dad said no way. No dogs in this house.
So they arrived and in they walked with the dog. We all sniggered when we saw this. My Dad arrived in from work, saw the dog and got triggered.
They thought it was funny and that they would get around him. We knew this wasnt going to happen. He told them to leave the dog in the garden and not bring it in the house.
They ended up leaving and they never spoke again. to this day, about 20 years later.
Amazing how pets pull peoples strings in all sorts of ways.
But still they were told not to bring the dog. Simple request.

That's entirely different to renting out a whole property though, the above is about guests meeting your father and his fear of dogs.

TSQ

Assetbacked wrote: »

:rolleyes:

This is where individual landlords do themselves no favours, these types of biases and an OTT attraction to the property whilst not appreciating that a tenant is paying to live in the house as a primary residence, not the landlord. Anyway, it is what it is and I'm comfortable to justify my stance with respect to a rental on the basis as set out above (i.e. paying good money, security deposit and unwritten but general reasonableness so would not hesitate to cover actual damage, even if caused by accident). As a tenant you need to meet unreasonableness with stubbornness.

You chose to ignore my point about apartment living. Fact: it is a very common condition that pets are banned from apartments, not by any landlord, but by legally binding clauses in the lease between owner and management company. Now, you could buy such an apartment, and argue to your heart’s content that you can live how you like once you ar paying the mortgage, but thats not how it works. On buying, you are legally bound by the terms of the contract and you cant unilaterally decide to ignore the rules. If you dont like it, you have the choice of buying in a pet friendly block. So it amazes me that a renter cant get their head around the fact that when you agree to rent a place, if one of the conditions the landlord has is “no pets”, then end of argument, find somewhere else.

Graham

Mod Note

Please continue the pet debate elsewhere. Thanks

jface187

Hi all.

Just a quick question. Our rent was put up this year due to other apartments price being put up. If prices in the area go down now (Due to CV-19), could we agure for our rent's to go down?

Smouse156

jface187 wrote: »

Hi all.

Just a quick question. Our rent was put up this year due to other apartments price being put up. If prices in the area go down now (Due to CV-19), could we agure for our rent's to go down?

If lease is up just offer less than currently paying or move if they refuse.

brisan

jface187 wrote: »

Hi all.

Just a quick question. Our rent was put up this year due to other apartments price being put up. If prices in the area go down now (Due to CV-19), could we agure for our rent's to go down?

Are you in a RPZ
If so was the correct calculation used.
No matter what the rents in the area are if you are in a RPZ there is a limit on how much rent can be increased.
You also have to get written confirmation of the increase and a minimum of 3 months notice otherwise the increase is illegal
Also no increases were allowed from about mid march due to the pandemic.

jface187

brisan wrote: »

Are you in a RPZ
If so was the correct calculation used.
No matter what the rents in the area are if you are in a RPZ there is a limit on how much rent can be increased.
You also have to get written confirmation of the increase and a minimum of 3 months notice otherwise the increase is illegal
Also no increases were allowed from about mid march due to the pandemic.

We did get the notice with 3 months, but it came into effect in Jan. I wasn't aware of RPZ. I'm just checking it out now, now sure if we would have fallen into it back in Jan. Thanks do.