Why do Landlords feel entitled to rent increases?

meijin

https://www.boards.ie/discussion/comment/118425317#Comment_118425317

or you can go to RTB after you move out, and get a refund of overpayment, plus a compensation

Pawwed Rig

https://www.boards.ie/discussion/comment/118425317#Comment_118425317

Then you check of it is rerented and you sue him for a 5 figure sum.

jo187

https://www.boards.ie/discussion/comment/118425317#Comment_118425317

Yeah this is the trap and fear you live in. Increase the rent as there is nowhere else to go or to expensive to month.

Our property agent on behalf of the LL put the rent up. She used two, two bedroom apartments in the area as examples for Increase, while we are a small one bedroom.

We went to threshold who said we had a case. So went to RTB, it was a stessful three months we got meadation which did noting. The agent stood her ground and that was it. We had to take the hike.

Threshold got in touch after and said RTB always goes for meadation as its easier and quicker for them. I forget the word they used but we should have gotten a judgement on the case which we ask for it at the start.

So RTB not on tennet side.

jo187

Aguce

https://www.boards.ie/discussion/comment/118425815#Comment_118425815

Are you in Rent Pressure Zone and was your rent increased withing allowed limits?

jo187

https://www.boards.ie/discussion/comment/118426033#Comment_118426033

It was using the comparison of 2 bed app vs our 1 bed app were our objections.

It raises the rent under "market vaule" and used those examples.

Threshold said we had a case. If rtb handle it properly it might been null and void

Manion

Sounds like you took a case over a 2% increase that RTB determined was correctly applied. The exact same property in the area is unlikely to be found they just need to show a general market value. If I was your landlord I'd take a dim view of a tenant being so tight fisted and kicking up such a stink over a few extra euro a week. I hope you sent them a Christmas card to make up for it.

jo187

https://www.boards.ie/discussion/comment/118427661#Comment_118427661

Wow fee extra quid? It was 75 euro on top of the high rent already. Nice of you judge people so quickly. Maybe that's not a lot to you but it is to me. The LL lives in Australia and couldn't give a flying tuck about me. All done by the property agent.

Manion

Your story is all over the place frankly. Previously you said you where in a RPZ, are we to understand 2% is 75 euro ? So your renting a one bed apartment for nearly 4K?

Either you're living in one of the most expensive locations in the country, Spencer docks, or you've had years and years of no rent increases and rather than be thankful you kicked off and the landlord was allowed to apply a formula. You're exactly the reason landlord put up rent yearly.

Ray Palmer

https://www.boards.ie/discussion/comment/118427847#Comment_118427847

Are you saying you care deeply about the landlord? Why should the landlord care about you personally? Double standards of people is quite astounding. You are judging somebody you haven't met. Be unhappy with renting all you like but you don't need to be hypocritical about things

jo187

https://www.boards.ie/discussion/comment/118428147#Comment_118428147

I'm not being hypothetical. The LL never even seen or talk to me with them living in Australia. I very much doubt they care about a xmas card off me or the fact I need to make it up to them as the previous poster implied. Needless to say I didn't get one or expect one of them.

Manion

Frankly, if you don't like paying the rent move out of your luxury 4K a month city center apartment to some place more affordable, perhaps with a commute. I cannot believe after all these pages of posts it boils down to you feeling entitled to live in silicon docks at cost. At one stage you where talking about being on the verge of homelessness. I rent out a 3 bed house for half what you're paying less than 5 km from the docklands, get a grip, you choose to pay that rent.

sk8board

https://www.independent.ie/news/20000-landlords-have-left-rental-market-since-2016-41281211.html

the totals given here are 298k LLs, down from 320k, but the RTBs own numbers are 165k, down from 178k.

these numbers today seem far to high; there’s only 3.5m adults in the whole country, i seriously doubt 1 in 11 are landlords, considering only 1 in 4.5 houses in the country are rented.

ted1

https://www.boards.ie/discussion/comment/118428072#Comment_118428072

It may have. Even more than 2 years increases. So 2-10%

Mad_maxx

https://www.boards.ie/discussion/comment/118425317#Comment_118425317

That landlord is taking the p1ss, you have options to fight this including fighting dirty

What this landlord has done is dirty so play them at their own game ,they might just be testing you

Mad_maxx

https://www.boards.ie/discussion/comment/118425815#Comment_118425815

If a tenant has done even a modest amount of homework, the RTB will side with them ,the RTB are inherently tenant albeit they are a pretty awful outfit in terms of efficiency

Bass Reeves

Can a rent review be had delivered or has it to be posted to the recipient

DubCount

https://www.boards.ie/discussion/comment/118543271#Comment_118543271

Is has to be delivered by the seventh son of a seventh son while there is a full moon and a pipe band to accompany him ....... oh wait, thats just the Residential Tenancies Bill 2022.

It can be hand delivered, but in the case of dispute, there is no proof of delivery. I would recommend registered post so there is a paper trail.

mrslancaster

https://www.boards.ie/discussion/comment/118544035#Comment_118544035

Registered post needs to be signed for by the recipient. What happens if there is nobody at the premises to sign for the letter?

I think I read somewhere (maybe on boards or rtb website) that proof of postage is sufficient when either a tenant or a landlord is sending any notice about the tenancy, eg rent changes, notices about maintenance /repairs, notices about utility works to the premises, termination notices etc.. It's assumed the letter is delivered by An Post and received by the addressee.

Is a "proof of postage with tracking" an option for a letter or is that just for packages? That could prove it was delivered by An Post if there was any dispute.

DubCount

https://www.boards.ie/discussion/comment/118545347#Comment_118545347

You can get a certificate of postage (for free) when posting a letter at a post office. This is an option if you believe the tenant will not be there to accept a registered letter. You could also put it through the letterbox yourself with a photo incorporating todays newspaper etc. My point was that you need some kind of proof to show that the notice was sent on the correct date in case you end up in front of the RTB trying to prove it.

Bass Reeves

https://www.boards.ie/discussion/comment/118546370#Comment_118546370

It's no problem if they challenge it, if I have to redo it the next one will be double the increase.

Fian

https://www.boards.ie/discussion/comment/118325704#Comment_118325704

You say that if they don't buy the house by Feb you won't sell since you will be ok to meet the mortgage once you move to market rent. You do understand that you will be limited to a 2% rent rise for each year since the rent was last set? Seems pretty unlikely that will lead to a €350 per month increase, unless current rent is pretty high.

Let's say current rent is €2,500 per month - it would need to be 7 years since last set before you would get your €350 increase to cover the shortfall between rent and mortgage you describe. Obviously it would be longer if current rent is less than €2500.

That is assuming HICP has moved that much over 7 years, though i expect it probably has.

Fian

https://www.boards.ie/discussion/comment/118425218#Comment_118425218

You absolutely don't have to pay this. If they react to a refusal by serving a notice to quit, just refuse to leave and go to RTB. Continue paying your existing rent.

If you do decide to pay the increased amount keep records of it, do not pay in cash. Then when you find another place or decide to leave go to the RTB and get all the overpayments back, along with your landlord getting a massive fine.

the legal protections for tenants are actually effective.

CuriosityKilledtheCat

https://www.boards.ie/discussion/comment/118560376#Comment_118560376

Luckily for me the house is in a non-RPZ - so I can if I choose to, move the rent to market value. This would currently represent an increase of approx. €300/month although I am reluctant to do this. The tenants are almost there with Rebuilding Ireland loan. They have been told that their application has passed all checks and will be up for consideration at the next (I presume finance committee) meeting in mid-Feb. They are desperate to try and get the house and I will stand over my agreement with them if they can get the money.

I will await the outcome of this before I make any decision. I am torn between serving notice of intention to sell or a rent increase. I know I could do both but if I decide to go ahead and sell, I will not increase the rent. At this stage, I am leaning towards selling the house.

csense

They feel entitled to it because it's there to be had. Its money left on the table otherwise.

If a landlord or vulture fund could charge a million euros a week and are sure they would get it, how many would charge a million euros a week? Nigh on every last one, that's how many.

This is the result of allowing a fundamental aspect of society be financialised or commodified, it spins out of control and those lucky or conniving enough to have tripped into such a talentless method of extracting money from productive people will invariably take every last drop of blood they can lick up.

Hence, a government, that's supposed to govern, doesn't allow this to happen with food or water or housing.

But they did allow it to happen, and not benignly through incompetence or blindness, but purposefully and with the specific goal of getting as much money personally for themselves and their cohorts while the goings good. Nobody in their right mind could say otherwise over the course of so many years.

Remember the obvious, the outrageous amounts of mortgages and rents are being sucked out of more and more of the population, yes, but that same outrageous money is also flowing into other people's bank accounts. And what are the odds those same bulging accounts share proximity with the same policy makers that enable it all year after year?

The country is being taken for a ride and robbery engenders robbery, filtering all the way down to the individual who works all month only to hand over the fruits of their efforts to someone else for the fleeting glory of not being made homeless.

That's why.

Ray Palmer

https://www.boards.ie/discussion/comment/118571298#Comment_118571298

Proof to any of these claims of conspiracy? Incompetence explains things better. Many bad decisions are made due to public pressure. RPZ is a prime example of doing something poorly to appease the public but makes the problem worse. I don't think the planned on it making landlords leave the market but are you saying that is the plan so rents would rise?

sk8board

https://www.boards.ie/discussion/comment/118571298#Comment_118571298

an incredibly one-sided view, so in the interest of some balance, I’ll just give this one point:

in 2012, when the market was awash with far cheaper rentals (20,000 of them to be exact, versus 1,300 today), the government decided to cut all capital spending on social housing and instead turn to the private investment market & accidental landlords to provide social housing, through the introduction of HAP.

if you want it solve this problem, build more social houses to take all the social tenants back out of the market, which hugely reduces the demand side economics, and rents will normalise pretty quickly.

until that happens, nothing will change. Houses can’t pop up overnight like mushrooms, but the mistake was made 10 years ago in 2012.

Otherwise you’re just shouting into the abyss about how someone else is to blame for everything in society

csense

https://www.boards.ie/discussion/comment/118571621#Comment_118571621

Of course there's no publicly available proof. How would there be? Do you imagine some random guy was delivered a letter signed by the entirety of the government stating something simplistic like "yes, we, et al, have been pumping the housing market for a near decade, yours etc..."

No, of course there isn't publicly available proof, and an iota's worth of thought would tell you that is entirely unreasonable to expect such.

On the contrary, waiting for such a unicorn to appear of its own volition is entirely without reason. It is that free pass that they take with gusto and continue apace.

A full, independent investigation with legal powers to gather evidence is the only way it will happen. And I do indeed think it will happen through the sheer dismantling of the housing market that's running wild. Could be as late as after the perpetrators are 6 feet under. Maybe not.

It is common sense that should prevail and enlighten and bring the very action that will give the proof. The cart follows the horse.

People, supposedly in positions of power, running the housing situation, keep making mistakes, and some people just keeping getting more and more money...all by mistake? For nearly a decade?

No. There is a trend-line where incompetency and unintended consequences over time, crosses into competency and intention. The longer it goes on, the less likely accidents become. It's that simple.

You pass by a person on Monday and they bump into you. "Oh, sorry about that!" they explain. No problem. But they do it on Tuesday too, and Wednesday, and Thursday, and two weeks straight, and 6 months straight...

At what point do you engage your brain and come to the only sensible conclusion that it is not accidental?

And that's a genuine question. Before you may state the predictable "he has no evidence!", How many more years would it take to raise your suspicions?

Serious question, if this whole thing is precisely the same in 5 years time, will you question it? Maybe 2030? Be specific, how many years of the exact same carry on would it take?

csense

https://www.boards.ie/discussion/comment/118571713#Comment_118571713

It's not blame that I'm pointing out, it is simple consequence.

When a fundamental necessity of a society is allowed run wild for profit, those who profit will extract every last bean.

That's the story.

sk8board

https://www.boards.ie/discussion/comment/118571768#Comment_118571768

You’re just describing simple supply & demand economics though.

The solution is always going to be more supply. Unless you have a way to exterminate about 100,000 renters, the demand side isn’t going to change, indeed it will only grow in line with population growth.

likewise, unless there is some incentive for Landlords to stay in the investment market, they will continue to exit at the current rate of about 4,000 pa.

until such point as that supply comes online, the Gov have tried to limit the supply & demand economics by preventing landlords from increasing beyond 2-4% pa (which is now below inflation, from an investment perspective, further pushing LLs out of the investment market).

csense

https://www.boards.ie/discussion/comment/118571827#Comment_118571827

No, I'm not describing simple supply and demand economics. It's far more serious than any of that rot.

If Mars bars were to be pumped up to €4000 per bar, and there was a limited supply, what do you think would happen? Nobody would buy them, despite the obvious demand that already exists.

Nobody would buy them because people can do without Mars bars. So they are reduced down to an agreeable price for what they are worth to people. Voila.

Now, consider water as an example. Allow some profiteering company a complete and utter, irrefutable control over water. They want maximum money and so they charge 100 euro per litre. There's not much that anyone can do about it because they have no control, so they simply must pay. Regardless of damned supply, the demand hasn't changed either. And hey, why not charge 120 per litre next year? It's all gravy, because they have people by the throat.

You're talking about the simplistic notions of Mars bars, and trying to apply it to water too. No, talk of "increasing the water supply" isn't going to fix anything.

They aren't the same.

Just so, allowing a fundamental societal necessity like housing to be turned to profiteering is disastrous, and there will never be enough supply, ever. They will make damn sure of it. Every bloody move made makes it better for profits and it's well past time that people recognise that simple fact.

As above, how many more years will it take to raise your eyebrow when supply is somehow always negated, year upon year? 8 more years, maybe 15? Be specific.

DubCount

Property is not just a "necessary" product, its also an "aspirational" product. Its not just about a roof over your head. Thats why a 3 bed des res in a nice suburb with beautiful sea views, costs a multiple of a 3 bed in a dodgy area with some antisocial behavior issues. Other "necessary" products dont have an "aspirational" element. If you are thirsty, clean water is clean water - whether its shop own brand or Ballygowan.

The state is responsible for providing a minimum standard of living. The state should provide that directly. After that, those with the most money get to live in the biggest places in the best areas.

Some questions to consider

• How much is affordable rent - who gets to decide, and what is the basis to calculate it
• If the private market does not want to supply rentals at the determined affordable rent rates, how do you fill the gap and house people (subsidize landlords, or direct state provision)
• All property is not created equal. How do you value a nice area, or a big garden, or access to the DART etc.

houseyhouse

https://www.boards.ie/discussion/comment/118571298#Comment_118571298

This whole comment reads like the drunken rant of a college student who had a single tutorial on Marxist theory.

csense

https://www.boards.ie/discussion/comment/118572311#Comment_118572311

I don't understand your overall point.

Water is water, and Pepsi may be aspirational water to some. So what? Water is water, firstly and most importantly.

As for who gets to decide what, that's a question that can be answered secondarily once the housing market is wrenched out of the claws of maximum profit. There are a great many people who had feck all say in housing being removed out of their reach and being extorted through rent, a number growing by the day, and I sincerely doubt that the grabbers will be the ones to ameliorate a bloody jot.

I'd wager more than a fair bit that a lot of the "aspirational" shytes living in des res land have done so, and are doing so, off the backs of sucking and slurping rent.

In other words, feck your "open market" ideology. No need to guess where the grumblers on this thread are siphoning their profits from.

https://www.boards.ie/discussion/comment/118572456#Comment_118572456

Breaking news:

Private service providers maximise profit for service provided. Experts say they have never seen this from a business before.

csense

https://www.boards.ie/discussion/comment/118572454#Comment_118572454

While yours reeks to the high heavens of a small-time profiteer desperately attempting to look like a big boy among the landlord class.

It's a talentless "business" you're in and it's only natural to feel that weigh upon you, but dismissing reality will change nowt. Landlords, big or small, will take everything they can get their hands on. It's not their fault that they've been allowed do it, but they won't worry themselves over it too much, I'm sure.

The housing market is a necessity for people, and it has been sold out beneath the population to the aspirational fief lord's of the 18th century.

Ye can all grumble and mumble away about pernickety details that matter not, but it is what it is, and it wouldn't exactly be something anyone would boast about, except when around the similarly "invested", then it'll be all dicks out, of course.

csense

https://www.boards.ie/discussion/comment/118572481#Comment_118572481

Yeah, it's never been seen at this level before, well-spotted, Watson.

Another one sucking the teat of a hyper-market.

What are you people thinking? That after almost a decade of increase, increase, increase, that it's just going to continue without any fuss, that ye can **** off together about interest rates while sucking the life out of society?

Cos if you do, you're dead wrong.

https://www.boards.ie/discussion/comment/118572511#Comment_118572511

You see it as talentless. It is neither talentless, and certainly not without risk. The LL has first of all have the talent to finance the property purchase then evaluate if the benefit outweighs risk in a sector with tenant favouring legislation and high taxation.

You see maximising profits as morally wrong, you show me a business investor who does not want to profit from their investment, I’ll show you someone who shouldn’t invest.

It never has, nor never will be the responsibility of the private sector to provide any service at the lowest possible cost to the customer.

csense

https://www.boards.ie/discussion/comment/118572560#Comment_118572560

So has it always been this way, or has it not?

Does the old Irish phrase "housing crisis" lost all meaning by now?

The point being, there is nothing normal about this, and it isn't about morality of profit. It's about the ludicrosity of a situation that has spun wildly out of control with some people on the profit side declaring loudly "perfectly natural!"

Feck all that noise.

As for it being a risky business and requiring talent, well, all I'll say is it's risky and talentful to walk down a road without dying too.

https://www.boards.ie/discussion/comment/118572591#Comment_118572591

It has always been the way. During the last recession when rents plummeted, the maximum LLs could charge was considerably lower than today because there was excess supply and lower demand. Now those factors are reversed and rents charged are much higher. Did you have a strong opinion when LLs couldn’t make mortgage repayments? I doubt it.

The housing crisis has been caused by increased demand due to increases in population and employment opportunities allied to contraction of supply as a result of a downturn in construction for almost a decade. This has been exacerbated by the numbers of LLs leaving the market as a result of poorly thought out legislation and increases in house prices. A considerable number of LLs are finally in positive equity after nearly 15 yrs of negative equity, so are grabbing the chance to offload BTL properties.

Is there a financial risk every time you walk down the road, and if there is, will it last for the next 20 yrs?

I have a single property 3 bedroom let in Dublin at abt €1400 pm. I pay a tenth of that to an agent who takes care of practical matters. I recently had to fork out €2300 for a new boiler. This month I’ve not made profit, but a loss to cover this. Next month there’ll be a very small profit. It’s a bit of pension to me, but not a hell of a lot of incentive not to just sell up tbh.

csense

https://www.boards.ie/discussion/comment/118572641#Comment_118572641

Oh, so it has always been this way. I forgot that it was St Brigid herself who coined "housing crisis" back in the days of yore.

Go on away out of that, will you!

Oh so there are some poor landlords that were rescued from the negative equity of their stupidity by sucking extortionate amounts of money out of people who never even had a chance to be stupid, and never will. Bully for the boys!

You think it's a fair and righteous thing that some people who gambled on a second property get a second chance, at the expense of people who aren't allowed a first chance to own their own home?

As for your fine analysis of the housing crisis, I'll summarise it more quickly; people that had a say in it, have ridden the hole off this country, at the expense of everyone else, at the expense of the future.

It's the big boy vulture funds, actively enabled by a no-doubt bought governmental system that have purposefully created this crisis. A perfect synergy of "you build 'em, we'll fill 'em" brown envelope exchange-a-thon. The incidental small timers running interference are the mere skid marks of this particularly exhuberant faecal movement.

It's no more accidental or natural than a bank robbery.

ButtersSuki

This thread is borderline hilarious.

i’m a landlord, unfortunately. I purchased my BTL property in January 2008 - amazing timing on my part but I knew then I was in it for the long haul. This is where money I had earmarked for my pension went, and continues to go into.

14 years later and the rent has not once come close to covering the mortgage repayments. I have never made as much as one cent on the property. I charge market rate rent. The rent has gone up in recent years due to demand, but equally in 2010 I had to drop it by almost 40% to get someone to rent it. The lowest monthly amount I’ve ever had to to top up the rent received to cover the mortgage payment was €200 (current top up payment by me). The highest (in 2010- 12) was €1100 - per month.

I had a period of over 12 months with no tenant at all, and obviously had to cover the mortgage fully for those months. Unlike most people (I assume) I’m not wealthy enough to cover 2 mortgages fully for a sustained period of time like I had to there.

I also had a delightful period of over 18months where a tenant simply decided not to pay the rent. Obviously again I had to cover this full amount of the mortgage during this time. When the tenant was finally removed (legally I may add) from the property, their parting gift was to take a sledge hammer to the walls, bathrooms, and kitchen etc. This cost over €10,000 (at mates rates I will add) to bring the property back to a rentable condition. The Gardai said there was no point in pursuing a case against the defendant as he was being deported. I took a case anyway and was awarded costs and damages. The defendant hasn’t paid a cent. He was deported, and was back within 2 months. When I reported this fact to the Gardai they were sympathetic but basically said unless I found out where he was living there was nothing I could do. I suggested if I saw him again could I follow him to find out where he lived. I was warned (yes) that that would constitute harassment! The stress of that whole situation was almost unbearable at the time. It caused a lot of arguments with my other half. It put a huge strain on our relationship. Have you ever tried telling a bank that the mortgage won’t/can’t be paid this month on the BTL property because the tenants haven’t paid the rent?

in addition to those costs I have constant/annual repair and regular repainting costs. I have annual property management fees and property tax, as well as many other costs.

The assumption that EACH AND EVERY LANDLORD in the country is mortgage free and just collecting rent for spending money every month is ridiculous. Most have mortgages on those properties. Are there landlords making lots of money every month? Yes. No doubt there are, but I would wager they are in the minority. Why do you think so many private landlords are trying to exit the market? The last figure I heard was over 1,100 private landlords exited the market last year (or that was possibly over the last 2 years - I’m open to correction on this).

Are there landlords struggling? Yes. But you rarely, if ever, hear that story.

But back to you OP, do you still want to swap places? Could you afford to?

And the bad tenant stories are rarely told.

To conclude, I said “unfortunately” at the start. I say this because it would have been an awful lot less hassle to simply invest in my pension in cash. I took a risk, and that’s on me. I still believe in the long-term play but it’s been an emotional nightmare and I wouldn’t wish the crap I’ve gone through with one tenant in particular on anyone. We call our BTL “Pacific Heights”. If you don’t get the reference it’s an 80s movie about a nightmare tenant. It’s worth a look btw. That’s how stressful it was. It will be a long time yet before I realise some value from this investment.

https://www.boards.ie/discussion/comment/118572740#Comment_118572740

My apologies, when you asked has it always been this way, I didn’t realise you want me to take into account the time period since the early 1300’s. I’m afraid I can only speak from my experience since the early 90’s.

Does “fair and righteous” usually go hand in hand with investment? I wouldn’t have thought so. I suspect investors are given short shrift if they talk about fairness and righteousness when losing money on investments. Maybe your experience with investments is different though, have you had any luck with your losses being handed back when you complained?

If you think politicians have been bribed by vulture funds, you would be doing a public service by bringing that evidence to a journalist, or indeed the Gardai. It would be a ground breaking story.

On a serious note, I get it that you are unhappy that rents are rising. But LLs are in the business of making money, not benevolence. A huge number of LLs have left the market, so it appears not to be the gravy train, or dick measuring prospect you seem to think it is. Raging that LLs are only in it for money is like raging at the sky because it’s raining, it just makes you look a bit nuts because everyone knows LLs rent for profit, and rain just falls a lot.

https://images.app.goo.gl/tfYj1NZEvPxKKFQLA

Bass Reeves

https://www.boards.ie/discussion/comment/118572740#Comment_118572740

I am a small time LL. I have two properties in rural Ireland. One I bought in 2016 for 50k two bed house in a small town. I had it rented at 650 after giving a notice to increase of 75 euro. Originally I was going to flip it over but when rents rose I decided to rent it.

Second is an old farm house that I did up. It cost about 50-60K. Rent is 650/ month, it a two bed. Both are HAO rental. Farm house is not really saleable.

The two bed town house was there for a town to buy. It's similar to tens of thousands of apartment and small houses that were sold from 2011-2018. They were there for everyone. But of course they were not in places people wanted at the time and they turned there noses up at them.

I am in for the long haul with the farm house. Of it gets too much hassle the townhouse goes as it has risen in value to about 80k( still only 40-50% of building cost).

Son is sharing in an apartment in D4 costing 1850/ month. What goes around comes around.

csense

https://www.boards.ie/discussion/comment/118572868#Comment_118572868

This isn't about normal investments. Therefore it isn't about "fair and righteous" in normal investments.

It is about the totally abnormal market that exists. Therefore it is about the very unfair and very unrighteous investments in that abnormal market.

The question of the thread was "why do landlords feel entitled to increased rent?", I answered that, via a purposefully broken system, landlords will take everything they can get. It is the simple fact of the matter.

It's screwing the country up beyond belief with consequences already baked in for a generation to come at least.

Similar in a fashion to the "rights" of Kings and lord's of old being able to rape a woman on her wedding night, being able to get maximum, extortionate rent off a people in a purposefully broken system is PROBABLY the kind of thing you'd not want to try and justify in some ludicrous way.

"I'm allowed by the king, that's all there is to my behaviour."

"It's the market, that's all there is to my rent prices."

It's far past normality, and everyone knows it. Everyone. I don't care for the stupid excuses, and neither, I suppose, do any of ye care for my harsh criticism of the system that has been created.

https://www.boards.ie/discussion/comment/118573091#Comment_118573091

Virtually all commodities rise in value when demand outstrips supply, in that way, the rental market is no different to any other. I do agree with you that certain aspects of the market are abnormal, for instance, it is abnormal for LLs to be leaving a market in such numbers while rental prices are so high and show no signs of decreasing for the foreseeable future. In theory, more LLs should be entering the market than leaving.

The justification for LLs charging higher rents is that all investors intend to maximise profits when risking their money on the investment. There is nothing new about this, all investments can fall as well as rise subject to market conditions, that’s the rules of the game.

You can rage, but that doesn’t change the fact that renting property is a business, right now business is good, but it wasn’t a short time ago, and may not be again in the future. You won’t shed a tear for the LLs then, and they should not expect you to.

kirving

https://www.boards.ie/discussion/comment/118573065#Comment_118573065

What goes around comes around is right. I work in Galway and pay under 300pm rent to share a lovely house. It hasn't raised in 8 years as I'm on good terms with the landlord. My friends couldn't believe it was so cheap.

I also rent an apartment D4, at a very similar price, people balk at that cost too. But I choose to live there despite the cost.

Honestly though, all things considered, if I bought in Galway I'd have much more disposable income despite a lower salary, a nicer car, more holidays, bigger house, etc.

csense

You insist on inferring that this is all somehow normal. Despite the meaning of the word "crisis" bandied about for nearly a decade

No matter how many times you refer to housing as though it were a packet of biscuits, it won't be normal.

The system is utterly broken. I say, and common sense says, this is the result of coordinated effort. That's my problem. People trying to downplay it are my problem.

I don't think you have any grasp on the reality of the situation for this country. I'm angry about it, yes, and I'm not even affected by it. But the amount of people I know that have been negatively impacted is preposterous. Relationships destroyed, employment destroyed, mental health destroyed, education destroyed, financial futures near non-existent . I'm angry on behalf of them, and rightly so. And that feeling is rife across the board, all you need do is dare listen for it. It's swelling.

You say that it has been a good business "for a short while". A short while, as in the guts of a fecking decade? Can you not comprehend the damage that has been done in such a long time? Oh you'd like to have a baby, woman? Well, just sit tight for another "short while", a decade or so, no big deal. Oh you'd like to go to Trinity college, just hold on there until you're 28, teenager. Oh you'd like to save for a home of your own, just hold on there another short bit. Oh you'd like to take that job offer? Just get back to them in a decade. It's really no big deal at all!

Not to mention that every indication is that it's going to get worse and worse. I'm sure you're happy with that. It's only the market, after all.

Well, happy as you may be with all the money, you're going to have to live in this society too down the road, and I'm telling you now, it's not looking pretty for anyone.

But I may as well be talking to a brick, for God's sake. "Hey, I know you're making money off that thing, but it's bad for other people". Useless.

The hyper-financialisation of housing should have never been allowed, never mind encouraged and carefully curated. People need to get on the streets with this. Whether before or after it all collapses, along with this society, they will be on the streets for justice. It will be less and less easy to scoff at that as this situation reaches inevitability. Not always, but quite often, we get what we deserve.

https://www.boards.ie/discussion/comment/118573317#Comment_118573317

Crisis are not abnormal occurrences. Housing bubbles are cyclical, as are periods of inflation, usually linked to over/under supply. There was a crisis in 2008 linked in no small part to speculation on property which led to over supply, and rents plummeted as a recession hit.