CSO rental report & Landlord statistics

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

<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 :)

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.

I think sometime last year we passed the tipping point where nothing any government do to encourage landlords back into the market will be enough.

Too many years of constant battering through ever changing legislation and eroding rights over your own property have left their mark.

Now even if they did something to encourage landlords back they wouldnt bite as they would be wondering how long until its reversed.

Also the spectre of new legislation to kill the value of their investment or prevent them leaving the sector if they need to is looming.

Noone in their right mind would buy investment property now. Anyone still in it is thinking seriously about getting out, our has got out.

Property investment is a dead duck now. Unless you are a REIT, with all the perks that entails, you just cant make it work or take the risk.

Don’t forget the banks were part of this situation in 2008 up to 2012. Pushing home owners to keep their property and rent it out while they buy a second or third property.

Many landlords are not advertising on Daft. The cost to advertise has increased over the years. They have no need to do this and are using other methods, e.g. word of mouth, my home.ie and agencies not using daft but their own websites. There is so much focus on Daft numbers.

Yes the nail was in the coffin last year where indefinite tenancies was signed in November last year. The risk or polices pushing into law to stop landlord requesting vacant possession.

You buy a btl house to have as you will not have a pension when you are older. It is the only business that is loss making that you pay tax on. You pay property tax that cannot be written off against tax, 52% tax in rental income and then 33% cgt when you sell. The rates have creeped up over the years. Your risking so much now and the risk of a tenant overholding the tenancy has increased. Rtb are not helping either.

Large Reits buying up new properties and leaving them empty to keep the rents high. They pay no tax and have full time lawyers detailing with tenants that do not pay. There is a housing estate in Donabate where I think 200 properties were bought by an Reits many sitting empty as they are able to pick and choose their tenants.

Any second time buyers will have difficulty as well as first time buyers buying at the moment with the competition from large corporate buyers as well as charities buying up homes.

The rental income is reduced in the REITs by borrowing the money from a sister company abroad who has in turn sourced the money at a much lower interest rate. The profit on the Irish rental income is thus converted into an arbitrage profit in another jurisdiction which conveniently has a nil or low tax rate.

It is always sourced from abroad. The original seed will be sent abroad and lent back if necessary.

Well that report was on the average net rental income for "landlords", not their average income. You can't be realistically proposing that every individual with a single additional property to rent out should be able to live off the back of solely that property - they will need an additional income rather than the passive rental income of a single house.

Average house price is about 300k. 20% deposit is 60k. So if you have 60k lying around, get a mortgage of 240k. buy that house and then deduct all your expenses, including interest etc, and have 10k coming in, that's not a bad return on your 60k. Lets even suppose you go mad and have another 40k upfront costs you burn through. You're still netting 10k per year on that 100k.

I presume the notion of "profiteering" comes from the fact that many would have bought their properties for far less than current values and would have been able to make it work on rental incomes far less than todays rental levels. The cost of the money they borrowed has fallen if anything, and their money coming in has shot up