If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)

Nightmare Rental Properties (Housing Crisis symptom)

  • 04-03-2022 2:39pm
    Registered Users Posts: 38 NatashaB16

    Has anybody else gotten so incredibly fed up of scrolling through rental properties and only finding bottom of the barrel, absolute hack rentals going for waaaay over their realistic worth?

    I’ve been trying to find a place to rent (preferably buy, but as a single person on an average wage there is only the tiniest sliver of hope) for over five years, and so I have ended up living with my parents until last year when a family member moved abroad temporarily, and I have since been renting their house. They’re coming back soon, and so I’m back on Daft, disappointed but not surprised that we’ve such a genuinely horrific market.

    “Studio” apartments make up the majority of rentals in the category I can afford (mind you, afford is a strong word as it would be roughly 40 - 50%+ of my pay packet) - it baffles me how many scumbag - for want of a better word - landlords are ok with chucking a bed into a kitchen and calling it a studio, then charging a minimum of €1,000 p/m for it.

    I suppose I mostly created this thread for a rant, but I also want to know: what’s the worst value rental you’ve seen recently on the market?



  • Registered Users Posts: 1,604 ✭✭✭ Amadan Dubh

    7) If you think FF and FG want rents to fall then think again. Only voting them out of power in favour of a "ban all corporates from owning property" (PBP) type of party will truly see supply pick up as people dump properties left, right and centre and MNCs head for the hills.

  • Registered Users Posts: 9,639 ✭✭✭ Caranica

    There isn't a magic bullet. If the housing crisis could be easily solved the government of the day would have done it and been elected over and over again. There isn't a simple political solution and no party can legitimately claim there is

  • Advertisement
  • Registered Users Posts: 1,604 ✭✭✭ Amadan Dubh

    It is 100% manufactured. Supply is being restrained and demand is being inflated, all controlled from our government led policies. I completely agree with you.

    There is no accident to this situation. For examples;

    1. The State supports 1/3 of all rentals in some way.

    2. Exodus of small landlords from rental sector and no replacement for them (tax, tough to remove bad tenants etc).

    3. Why 4% rent increases are permitted and not simply allowing increases in line with the increases to mortgage rates? Institutional investors lobbied for this which shows the policy is geared for them and not the good of society.

    4. If you even look at the FF/FG housebuilding projections for the next decade it matches exactly the expected level of population growth so essentially we will never have an oversupply. Demand will never be met.

  • Registered Users Posts: 1,604 ✭✭✭ Amadan Dubh

    Oh believe me I know PBP and Shinners won't do anything good for the country but when the tide of society is moving towards majority of the electorate being renters who are unhappy with their rental lot, then we will see some seriously loopy policies get thrown about.

    The PBP policy is to actually ban corporates from owning property and they could potentially be in coalition with SF on 3 years here. So long Ireland, Inc. and hello mother Ireland.

  • Registered Users Posts: 497 ✭✭ J_1980

    with the Euro collapse I’d be confident there will be some sort of deficits constraints imposed within the next 2/3y. Otherwise the Euro is history. Sf/pbp will become an impossibility with that.

  • Registered Users Posts: 5,955 ✭✭✭ handlemaster

  • Advertisement
  • Registered Users Posts: 5,368 ✭✭✭ JimmyVik

    I hear the plan is to make all the people living in council houses who have spare rooms give then to refugees. The state pays for those empty rooms anyway.

  • Registered Users Posts: 3,092 ✭✭✭ RichardAnd

  • Registered Users Posts: 3,092 ✭✭✭ RichardAnd

    Ah okay. 

    To be honest, there is some very dangerous rhetoric getting tossed around.  If the state gets away with the expropriation of private property, there may be some very dark days to come.  

  • Registered Users Posts: 295 ✭✭ Ham_Sandwich

    people calling land lords scumbags I dont get it they have to pay taxes on the rent the recieve AND whatever income they have from there jobs and most are land lords by accident its not an easy thing to be a land lord

  • Registered Users Posts: 8,104 ✭✭✭ Ray Palmer

    Why do people think landlords are mostly accidental? Only some newer landlords due to the property drop over 15 years ago became accidental landlords there is no way they make up the majority of landlords in the market. It would assume that there was very few landlords before this time. I can't see how that can be true

  • Registered Users Posts: 890 ✭✭✭ Viscount Aggro

    Too many landlords broke the first rule of investing...

    Never borrow to invest.

    Also, this crap about being taxed at 50% + on the rental income...

    Incorrect to say this is every private landlord.. It depends what tax bracket they are in.

  • Registered Users Posts: 3,178 ✭✭✭ Mic 1972

    a 35K per year job is enough to put any additional rental income in the highest tax braket

    Biology is not an opinion

  • Registered Users Posts: 8,104 ✭✭✭ Ray Palmer

    That saying applies to stocks and derivatives not property. It is actually a fundamental of the property market to borrow in order to acquire and build property. Actually most businesses borrow money at some time to invest in the company.

    It may be not 100% that all private landlords pay 50%+ on rental income but the vast majority of private landlords do. Even with a pension and one property you can end up in the higher tax bracket.

  • Advertisement
  • Registered Users Posts: 966 ✭✭✭ redarmyblues

    Lookit, the rental market is fecked and all things being equal even the possibility of a SF government will feck it even more, so I am not being smart come back in 25 years because all small landlords are eying an exit.

  • Registered Users Posts: 38 NatashaB16

    Exactly this!

    And just to answer other posters, I didn't call all landlords scumbags - I was clearly referring to the ones who massively overcharge tenants 'in line with market value' despite the fact that their mortgage cost is minimal (or nonexistent if the house is owned outright) compared to rent charged, and also despite the fact that the property they are renting out is quite often not fit for purpose, let alone fit for rent at what they're charging. If you can't charge a fair rent due to tax or whatever excuse you have, sell your property!! In most cases, it is actually that simple!

  • Registered Users Posts: 38 NatashaB16

    I understand there are people with properties tied up etc and these properties can't be sold, but my bottom line is that if you can't charge a fair rent (which is defined as generally 30% of someone's net income) then you shouldn't be a landlord, and instead should sell your property as you could currently get quite a lot more money than it is worth.

    That would be the ideal, empowered tenants, but it would require much more supply and a stricter regulation of properties available to let.

  • Registered Users Posts: 38 NatashaB16

    That’s as may be, but profiting from people trying to find reasonable accommodation in a housing crisis shouldn’t be accepted imho.

    Again, people are entitled to do whatever they want, but in the middle of a housing crisis, nobody should be profiting from people trying to put a roof over their head. Look at daft and put in the parameters of what someone on say €40k should be able to comfortably afford (30% net pay, I am not great at maths by any means so let’s say €775 p/month) and you can’t even get a studio in Dublin, let alone the surrounding areas.

    How about instead of treating property like a commodity, we treat it as a basic need and stop accommodating people who buy houses and apartments to rent out to other people, hence reducing supply from the market automatically?

  • Registered Users Posts: 497 ✭✭ J_1980

    Someone has to pay for the ridiculous welfare state in this country. Dole spongers all have their own place….

    corporates and rich people are highly mobile, so the middle income earner has to pay for it via lower living standards. 775 easily gets you a room share.

  • Advertisement