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CSO rental report & Landlord statistics

sk8board

https://www.rte.ie/news/business/2021/1117/1260475-cso-on-rental-sector/

good to see some hard data from the CSO a few days ago, from a combination of sources (census, rtb, lpt, ber and Revenue), up to 2020:

over half of landlords have net income under €10k
67% of landlords have 1 rental and a further 19% have 2 (i.e. 86% with 2 or under)
age profile of Landlords is getting older, as fewer younger people can afford to buy rentals, and existing LLs age
22% of LLs use rent as their primary source of income (presumably that’s a combination of companies and also some elderly folks with a single rental, no mortgage and pension income)
total number of landlords has been dropping since 2016, down 4,400 in 2020 to 165k, while the number of rentals owned by companies has increased.
of the 165,000 landlords, there can be more than one LL registered to a single rental (husband/wife, sister/brother, etc), so selling a rental can remove multiple LLs from the market

as an investment market, it’s very clear that most LLs are either not investors (accidental), or are taking on a lot of tenant-side risk to rely presumably on future capital appreciation. with much of that appreciation probably already done, it helps explain the exodus of LLs in recent years.

the market is clearly broken on both sides, but it’s rare to get detailed data on the LL side.

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Hontou

Irresponsible bad tenants are the greatest enemy of good tenants. If the criminal behaviour (in my opinion) of property damaging and overholding tenants could be dealt with quickly, then good tenants would have a better chance of getting a rental. I have just read on a property forum of a working man with good landlord references living in a hostel. Meanwhile, some rental properties have non paying tenants supported by the government. Good, responsible tenants should have some kind of lobby group. Landlords are not allowed differentiate between good and bad tenants. References are often false and GDPR rules etc. mean tenants cannot be vetted. I sold rental properties because I could never risk again having a bad tenant. It only takes one to destroy a property. I had decades of great tenants but the government backed, increased risk, has destroyed the market for good tenants. There could be more and better landlords and a better market for good tenants if both bad tenants and bad landlords were dealt with swiftly in the criminal courts where they belong.

Max H

RTB are too tenant biased. I agree bad landlords should be penalised. But to get a bad tenant out, who is trashing your house, or not paying rent, or being anti social is not the problem of the landlord, they are the state's problem. They should be removed asap and put in a hotel or b and b till social state supplied housing is available. You give up your right to being in a nice house if you act like an eejit. And the same goes for landlords too. But small private landlords need protecting as well, and they are not.

agoodpunt

populist socialist treshold directed policies have the private market striped of supply politics needs to be remove from the property market they are responsible for its destruction starting with the scraping of the rtb

[Deleted User]

Wow, only 1,300 properties to rent in the entire country 😲

sk8board

(Green line) Fascinating drop in rental availability on Daft, from 24,000 in 2011, to just 1,300 today - note in particular the steep fall in the past 18 months, a clear indicator of landlords taking advantage of increased property prices to leave the market.

it will be interesting to see how how many LLs leave before it bottoms out, it’s down from 220k in 2011 to 164k today.

sk8board

Yeh I saw that too - it’s a pretty narrow buyers market if the only person you can sell to also needs to be a landlord :D

complete and utter unimplementable populism.

the central bank said a few years ago that for every 5 LLs leaving the market, that 1 new LL was entering - and they weren’t even buyers, it was usually a couple moving in together and keeping both houses they already owned (i.e yet another accidental LL).

I’d imagine the recent price rises would mean that 1-in-5 figure is far lower now, as it’s a less attractive investment

JimmyVik

<QUOTE>"However, Sinn Féin housing spokesperson Eoin Ó Broin said that it was a “bare-faced lie” to say that the new legislation would put in place tenancies of indefinite duration.“Almost nobody gets evicted on those grounds.

“Tenants are getting virtually no additional extra protection,” he said.

“While the technical change [the minister] is making is welcome, what he really needs to be doing is removing those other two grounds for eviction.

“If the landlord wants to sell, they should sell with the tenant in situ.”

The data, which has not yet been formally published by the RTB but was released to Mr Ó Broin, shows that the number of landlords selling their properties is now higher than pre-pandemic levels in the past several years."</QUOTE>

And there go the landords who are left straight out the door :)

sk8board

some up to date data on the continuous increase in the number of LLs leaving the market, 2012 v 2020. Its been accelerating every year since 2016.

https://m.independent.ie/news/tenants-feel-squeeze-as-46-landlords-a-week-left-market-in-the-autumn-41121495.html

sk8board

https://www.boards.ie/discussion/comment/118251835#Comment_118251835

RTB annual report - its easy to find on their website and they always include a graph of total LLs since their inception about 15 yrs ago. The numbers are falling since 2016, and the rate of LLs leaving is accelerating each year.

also, bear in mind that this is the net change in registered LLs - there will be some new LLs joining the market, and also cash LLs who are being found and (rightly) forced to register. It also won’t include LLs who didn’t notify the RTB that they were exiting (I’m not aware that it’s a requirement).

the number of LLs exiting the market is actually higher.

Varik

https://www.boards.ie/discussion/2058219130/cso-rental-report-landlord-statistics

Where are you seeing the 165k total and the drop from, it's not in the article and I can't see it in the actual report.

The_Conductor

Its good to see some nice hard data for a change- we all hear anecdotal stories of the exit from the sector etc- but few hard facts such as are outlined here.

sk8board

https://www.boards.ie/discussion/comment/118244443#Comment_118244443

in reality it’s in the noise level, and probably most of them are people obliged to change their existing FTB mortgage to a B2L by their bank

JimmyVik

https://www.boards.ie/discussion/comment/118244033#Comment_118244033

I cant help but imagine how financially ignorant that 2% must be :)

sk8board

Just 2% of new mortgage approvals are for Buy2Let’s. 2%!

the market is completely broken, on both sides.

im sure there are some cash buyers across the market, but it’s unlikely with such low interest rates on offer, and 100% interest deductible.

Mortgage approvals slow in October - BPFI

https://www.rte.ie/news/business/2021/1130/1263935-bpfi-mortgage-approvals/