Irish Property Market chat II - *read mod note post #1 before posting*

I'd say it could encourage landlords to stay in the market, especially those that are charging below market rents and feel like they can never catch up.

They will be able to reach the market rate now, even if it takes upto 6 years to do it.

For new investment and new apartment builds, it doesnt appear to offer any incentive at all. New builds can charge market rent from day 1, but they can already do that today... no change.

New builds will not be limited by a fixed 2% rent rise, but they are limited by inflation and if inflation goes too high, i believe the rent cap will be fixed at, yep....2%. No change there either.

If the aim of this review was to incentivise investment and stimulate new construction, I do not think that mission has been achieved.

As the whole country is going to fall under RPZ rules, it would seem likely that landlords not in those zones today will up their rents quickly, before the new rules come in next spring.

Not good news for tenants in those areas.

Does anyone know if the new 6 year security of tenure for small landlords mean that the landlord can no longer evict in the case of sale or needing the property for his own use? I thought they spent years saying such a move would be unconstitutional so I'm surprised if it's now the case.

I get the feeling it creates loopholes that the big players can get through, while small landlords are left in a beauracratic limbo.

Its kind of like that program that paid private individuals €400 p/m for housing Ukrainians that was recently cut, while the healy-rae accounts show they are receipt of €1,220,000 from the state for the same purpose over 2 years.

The plant hire business is making over 800,000 per year, would be interesting to see what proportion of that is coming from the state also

Interestingly the shop and filling station is making a loss of 27,000 per year. Profits are difficult to make when you can't feed off the taxpayer and instead have to pay higher costs mainly coming from government

Guys,

Apologies if this has been answered in one of threads but cannot see it.. I'm looking for clarification on below situation as im not 100% sure.

- Single property owner registered with RTB

- Existing tenant in place last 8 years. Like many other here - good tenant but rent below current market price ( circa 40%)

- Can i reset rent to market price if existing tenant remains?

- If so, when would that be - I'm a little confused with the 6 year piece starts

- if i decide to sell the property - Does the tenant have any right to stay?

Thanks

Imo it will take small landlords out of the picture buying 2nd hand houses ,which might stabalise the 2nd hand house price .Some one here already stated over 50% house sales are cash buyers and more then likely high % of them would be landlords.

Putting the breaks on rent inflation is probably also a good job ,But unfair on landlords who are currently under the market rent .

I can not see how any of this will lead to more houses been built ,there will have to be another brain wave to achieve that!!!

I think it will do the opposite as it makes it appealing again as the RPZ rate resets making it a much more viable option now.

Cash buyers doesn't really indicate landlords buying up things because that would show up as new tenancies which is the figure that actually much better at telling you. There are a lot of people with cash due to covid, inheritance, share options etc…

The changes do make investing more appealing so should increase building.

A big factor in Ireland is occupancy rates. Huge areas of Dublin probably have an occupancy rate of just over 2 people per 3-4 bedroom properties. They are occupied 70-90 year old people so in 6 years a lot more of these properties will be available. If rented they will have a much higher occupancy rate than is bought because people buy for the possible future needs. I have seen rentals sold and the occupancy rate drop from 4-5 to 1-3. People think landlords selling is a good thing as people can buy but reality is means there are less places for people to live.

There is a misunderstanding of the housing crisis to mean other things than housing people such as the ability to buy property. I completely get why people want to buy and should be able but is that the priority or housing people. Landlords are vilified but they didn't cause the problem I would point the finger squarely at the government for populist decisions and the public for not understanding.

From what I’ve read there will be no change for existing tenancies. But if an existing tenant leaves of their own accord and the landlord then enters into a new tenancy after next March, it will be 6 years with 2% increases and restricted termination. Then at the end of the 6 years, the landlord can sell, renovate etc, or else roll-over into another 6 year lease and at that stage the rent can be re-set to the market rate. Earliest re-set not until 2032.

I think that’s the proposal but might be reading it all wrong.

Great post! You know what we should start doing and they will propose though ? A few more public consultations... basically there's one cohort in this country except to be peasant slave's and working **** jobs for horrendous pay, then pay obscene rents or mortgage., so the other half of this country, can live in some fantasy land... housed for nothing, everything handed to them on a plate...

Oh yeah, sorry, the talk of it ending and being made inroads into, is from the lying politicians. This next election will be hilarious to see what happens... if sf get in and **** hits the fan, who gave sf the keys to power ? Ffg failure or total success, pick whichever side you want... these decision makers are all homeowners at the least and many landlord's... not only that, most of the electorate are homeowners... certainly no conflict of interest there...

Tenancies per landlord type (rather than number of landlords of each type) is something I've been looking/asking for years but never got an answer. No idea why such figures are so hard to come by.