handlemaster wrote: » Interest rates are what they are , its not a favour to anyone. Capitals gains relief is if you bought during a short period of time when no-one wanted to.it will onky actually be a gain once sold. HAP and long term leases ... have you dealt with social tenants ? .landlords do not want these tenants as there is usually issues with them. Not always but usually.
PropQueries wrote: » I don't think it's that everyone thinks that landlords and banks are evil. It's just that both these groups got significant help over the past ten years and I think people are now saying it's time to stop the help. We all know the help the banks got. In relation to landlords and property investors, they have been helped by three factors over the past 10 years: 1. Low interest rates. 2. The capital gains tax reliefs introduced in 2012 where they now don't have to pay capital gains tax if they bought during this time and sell today. 3. HAP, long-term leases etc. has had a significant impact on both driving rents up and placing a floor on probable rent falls.
schmittel wrote: » Completely agree it is toxic, but the reason the politicians boot it into the long grass is the electorates fault. What amazes me is me is that the majority seem to be OK this with this sort of delinquent rent/mortgage payment situation, because sure aren't all landlords and banks evil. Until the majority realise, hang on the rest of us are actually paying for these chancers, politicians are likely to carry on as is.
PropQueries wrote: » Take the 10 biggest technology companies in the S&P 500 and weight them equally, and they would be up more than 37% for the year. Do the same for the next 490 names in the index, and they are down about 7.7%. That shows just how much a few giants matter to the index."
The_Conductor wrote: » We've allowed a situation to develop in Ireland- which is almost unique globally- where paying your mortgage or your rent- has become optional- and indeed, you're penalised with higher rent or higher interest rates- if you actually do what you're supposed to do. This entirely perverse situation is toxic- and politicians continually boot it into the long grass, and hope it becomes someone else's problem in time.
Augeo wrote: » Highly debatable I'm sure folk said that back in 2007, stock market had recovered back to 2007 peaks in 2013 ish iirc. Property was only on the way back then. If you'd a decent wad of cash you'd dripfeed it in to the market over a period of 18/24 months. Much like Irish property Well it's much easier to sell stocks then property so that's another plus for stocks IMO And timing the market is very, very difficult.
awec wrote: » Stocks are surely riskier than property, even with all the uncertainty of the sector today.
The_Conductor wrote: » Agree- particularly as stock markets seem to be completely irrational levels- they may not be at previous peaks, but they're damn close to them............
The_Conductor wrote: » .......At the moment- I'd be cashing in investments- and creating as much liquidity as possible- and sitting out investing it- until the implications of Brexit (and Covid) become clearer and a new 'normal' becomes established.
fliball123 wrote: » The government need to put in law that a tenant must pay the rent that they owe and if it has to be done it should come out of their wage or dole over time. Its the same with mortgages people can just stop paying and live rent free for years. Not only does this impact interest rates that everyone else is paying it also means a couple/family have one less house available for them to buy.
The_Conductor wrote: » Agree- particularly as stock markets seem to be completely irrational levels- they may not be at previous peaks, but they're damn close to them. You could do a little bit of investigating and carefully tailor the stocks/shares you're willing to invest in (even Warren Buffet managed to invest 6 billion in the last week in this manner- but he felt he had to look to Japan to find any sort of value to invest in). At the moment- I'd be cashing in investments- and creating as much liquidity as possible- and sitting out investing it- until the implications of Brexit (and Covid) become clearer and a new 'normal' becomes established.
The_Conductor wrote: » No politician is going to take away any rights from a tenant- it would be political suicide. Cognisant of this- the sanest and safest thing for any landlord to do- is to maximise their rent- to offset against against any periods in which they end up out of pocket from a miscreant tenant. The alternate- is to exit the sector, and it would a hell of a lot less stress than trying to continue to operate in it. The current system- patently doesn't work- however, how do reform it when from a political and societal perspective- its unacceptable to do so? Obviously- it shouldn't take the protracted periods of time to persuade a tenant to leave when a tenancy is ended- nor should it involve the payment of inducements or bribery to do so- as obviously if this is the case- the cost of doing business will simply be piled onto other tenants- the ones who are paying their rent and have a perfectly business like attitude with their landlord. Its a damned situation- where 'reform' isn't really going to cut it anymore- the whole system is dysfunctional (for both tenants and landlords)- the multiple layers of appeals mechanisms- and the manner that even after all avenues have been exhausted at the RTB you still need to go to court- and incur yet more expenses- just doesn't make sense. And yet- its this way for both parties- anyone who takes a case- either a tenant or a landlord- pretty much has an automatic presumption of 'guilt' (its applies to both tenants and landlords)- and the burden of proof placed on defending a position is onerous and expensive. Even clearcut cases- incur needless time and expense- one tenant here in this forum has told us that she still hasn't received her deposit back after almost 2 years- despite taking a claim against the landlord- and as for the number of landlords who have taken claims for non-payment of rent- I can't actually quantify them. The RTB, the legislation and the whole process of bringing cases and enforcing judgements- doesn't work- at all- other than in exceptional circumstances- which is an appalling inditement. What do you do though- when its political suicide to do anything other than give additional rights to tenants- and politicians are egging one another on to promise more and additional rights- come what may. If I were a landlord- I'd be crazy not to make the most of the current (irrational in my opinion) buoyancy in the housing market, and I'd be doing my utmost to get out of the sector as cleanly as possible.
awec wrote: » So imagining that you were a landlord and took that approach The_Conductor, where would you put your money instead?
Connavar wrote: » I think you might be highlighting the area that can be improved with good optics here. Coming up with a way of speeding up the whole appeals process. It could be spun as a good thing for tenants who feel wronged with the added benefit of helping out landlords in the reverse situation
fliball123 wrote: » It wont happen as long as the cards are stacked for tenants its so hard to get a bad tenant out so you cant blame a landlord for protecting his/her property
The_Conductor wrote: » We need a way to fairly tax rental income- while at the same time disincentivising landlords from keeping units empty (irregardless of whether or not they have debt associated with the properties- and keep in mind over a third of Irish rental properties are not mortgaged).
Mic 1972 wrote: » The market is very strong, there is no reason for a seller to pull their property off the market now. Chances are they are going to go over asking prices. This is a perfect time to sell. Whatever it is that is keeping the market going, it remains a mystery. I don't believe that the Covid payments are responsible for keeping the property value so high
CertifiedSimp wrote: » Are they owned by REITs? That's one thing they can do, leave it vacant until they get the price they want. They have the cash to weather a few months. They essentially set market price.
OwlsZat wrote: » My apartment block is fully of vacant apartments. The same ads hanging on Daft at mental prices the last 2,3,4 months. I'd assume its because they have all availed of mortgage holidays allowing them to suspend the old free market economics so many bang on about. Hardly seems fair given the exorbitant rent they've creamed over the last few years.
Mic 1972 wrote: » sorry but this is just a bitter guy who couldn't get the rental properties he wanted. In one case he complained about an old restaurant that was turned into an art gallery. It's none of his business to decide what a LL should do with their property and how they are going to profit from it Another video is called 'The NYC real estate bubble REFUSES to pop' I think i know the type guy, we have a few in here :-)
tom_murphy112 wrote: » This maybe beyond this thread, but I follow a guy on YouTube based in NYC that does laptop repairs and last year he was looking to rent out a new retail space for his repair business. He basically had so many issues, with how property owners was asking crazy prices and wanted to have really odd clauses in their contracts. About a year later, he goes over a lot of the places that refused to reduce the rent and are still vacate, I wonder if this will eventually happen here as well - Thoughts ? Interesting video to watch - https://www.youtube.com/watch?v=Fk5o6cbq_Qs
The_Conductor wrote: » Yes- I see all the media about people saving thousands- funny how I don't know anyone who did. Bills went up- sure, some people saved on childcare- but just as likely they massively increased expenditure in other areas. I know I did.
