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Landlords selling 2026

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Comments

  • Registered Users, Registered Users 2 Posts: 1,589 ✭✭✭Emblematic


    But let us say fewer properties were built or bought up by AHB and LAs. Where then are you proposing that those who can only afford humble public housing would live?

    I think you would have a point if a load of these public housing properties were going empty because of the income requirement, but that is not the case. I doubt if the housing bodies have any trouble finding people to become public housing tenants despite the income restriction.



  • Registered Users, Registered Users 2 Posts: 325 ✭✭MadeInKerry


    Now you are getting it.

    Councils and AHBs are buying all the houses available. All the money and builders are tied up in that. The rest of us mere mortals can only pick from whats left and pay handsomely for the crumbs. They are using our own taxes to inflate the price we pay for houses we want top buy.



  • Registered Users, Registered Users 2 Posts: 5,878 ✭✭✭BlueSkyDreams


    If the private developers were allowed to build for the private market only and the councils and AHBs built for social housing, including cost rental and affordable, we would see the total number of units built increase and the price set by the private market come down, as supply increases.

    Agreed the planning board needs reform but there are still plenty of units with permission that havent started construction.

    Over 60% of new estates that have been approved at planning are not under construction.



  • Registered Users, Registered Users 2 Posts: 5,878 ✭✭✭BlueSkyDreams


    AHBs and Councils need to build their own supply, instead of using tax payers money to siphon off private housing and inflate house prices while they are at it.

    Let both the councils and private developers build. 2 pairs of hands are better than 1.

    Increase supply of both public and private housing, therefore limiting house price inflation in the process.

    Post edited by BlueSkyDreams on


  • Registered Users, Registered Users 2 Posts: 5,046 ✭✭✭Villa05


    They are biased against landlords, but their incompetence is such that it's of little use to tenants good or bad

    Gov need votes, housing policy inflates house prices. Most voters are home owners (declining but still a majority). To counteract the decline Gov protects some renters to restore a balance. As with labour and cutbacks it's the new entrant that had no hand, act or part in creating the mess that must pay the most

    Ireland in summary for my entire lifetime, run by cowards



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  • Registered Users, Registered Users 2 Posts: 1,589 ✭✭✭Emblematic


    Of course, what you mean here when you say AHBs and Councils need to build, is that they should commission the building of units. A bit like when a private buyer contracts a builder to build their house. They may say I built this house but really they are having the house built by a supplier of building services.

    Economically, they are pretty much the same in terms of resources required and pushing up prices for others and there's the same political problems when people complain about houses not being put on the market for purchasers.



  • Registered Users, Registered Users 2 Posts: 5,878 ✭✭✭BlueSkyDreams


    They can set up a state build agency or they can commission the builds yet they are doing neither of those things currently.

    New builds intended for private sale or rent are being snapped up by AHBs and Councils late in the day.

    Housing intended for the private market isnt reaching the private buyer or renter.



  • Registered Users, Registered Users 2 Posts: 1,589 ✭✭✭Emblematic


    Do you mean public sector employees as builders? Yes, I think they would have no problem attracting workers to the much better security offered by the public sector. I can see a problems with industrial action and the like in such circumstances and I think this is probably the reason why the state contracts out things like construction to firms that specialise in it.

    But let us say they went down this route, the workers they have taken from private companies need to be replaced. There isn't an infinite pool in the country and private firms are also competing for foreign workers. This state agency would also be competing with private firms for serviced land as well as building supplies. I don't see it overall saving money and it still pushes up prices for others.

    Sinn Fein or some left-wing parties might like it but this is from a workers' rights perspective not an efficiency or economic one. Politically also there are some advantages in that the overall process is less transparent, but again, I don't think this is where you are coming from.



  • Registered Users, Registered Users 2 Posts: 325 ✭✭MadeInKerry


    https://www.thejournal.ie/daft-rental-report-markets-rents-6965204-Feb2026/

    Maybe some will come back on to the market next month.

    Maybe the owners are selling and they wont come back on.

    Two things are certain. Any that do come back on will have higher rents and supply has decreased.



  • Registered Users, Registered Users 2, Paid Member Posts: 22,102 ✭✭✭✭Bass Reeves


    I think its a factor that many are failing ho understand even if its only LL turnover provided its vacant possession. A property turned over will be rented at market rates which are often significantly higher than present rent

    Post edited by Bass Reeves on

    Slava Ukrainii



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  • Registered Users, Registered Users 2 Posts: 325 ✭✭MadeInKerry


    Or like my brothers it will leave the rental market altogether and the people in it will each find somewhere else to rent. Its one or more properties less on the rental market in future.



  • Registered Users, Registered Users 2 Posts: 85 ✭✭pooley124


    There's no doubt that the new rules have created a lot of turmoil in the rental market, and a lot of landlords are leaving. What's surprising though is, looking at the landlord group on FB, there seem to be new people getting into the rental business. Going by the questions they're asking they seem to have zero experience dealing with rental property.



  • Registered Users, Registered Users 2, Paid Member Posts: 22,102 ✭✭✭✭Bass Reeves


    Even if a new to market LL or an existing investor buys those properties after March 1st he can and will xharge market rates.

    Take a 3 bed semiD that in 2016 was 1k/ month back the. Since then legally it could probably have risen to1300 ish euro. The market rent now might be 2k plus

    Slava Ukrainii



  • Registered Users, Registered Users 2 Posts: 5,878 ✭✭✭BlueSkyDreams


    If the state hires or contracts in new staff to build state owned homes there will be a pull on construction resource in the short term but we can bring in more workers to support that growth.

    We have the money to attract workers and the population is growing rapidly.

    There will be a shift in employment patters towards manual work as AI reduces white collar jobs, its already happening at entry level and it will increase across all levels.

    Construction labour force will not be a problem.



  • Registered Users, Registered Users 2 Posts: 5,878 ✭✭✭BlueSkyDreams


    I think we will see a dead cat bounce in march, as landlords release homes to take advantage of market rents.

    Once that flurry works its way out of the system we will be left with fewer homes, fewer landlords and higher rent prices.

    The govt seems to be betting the house on private investors moving in to take up the slack left by small landlords but with the rent caps still effectively in place, the investors wont answer the govt's call.

    Post edited by BlueSkyDreams on


  • Registered Users, Registered Users 2 Posts: 1,589 ✭✭✭Emblematic


    But the private sector is also trying to bring in workers and they are still short of builders causing costs to rise. This is in addition competition for land and materials.

    The point I'm making is that if the state brings building fully in house, all the same issues with resources remain plus you have the inefficiency that comes with public sector projects. Not a magic bullet I'm afraid.



  • Registered Users, Registered Users 2 Posts: 325 ✭✭MadeInKerry


    Even the private investors are de-risking. Heard about this one on the radio yesterday. Im sure its not the only one.

    https://www.independent.ie/regionals/kerry/south-kerry-news/government-urged-to-step-in-as-first-of-12-kerry-families-faces-eviction-next-week/a1734918001.html

    Ires selling off property as well, though i cant find the article on that.



  • Registered Users, Registered Users 2, Paid Member Posts: 22,102 ✭✭✭✭Bass Reeves


    The whole point of the new legislation is to encourage investment especially in apartments in the medium term. But IMO the numbers do not work. Will a 2 bed stop at 500k. At 500k you need an ROI of 6-8% to make the numbers work or a rental yield of 30-40k. That's a rent of 2.5-3.35k a month with your annual rises and 6 yearly market rate adjustment.

    Property tax around 500 euro, managment charges 2500/ year, insurance of contrnts 1-200 euro, maintenance 700-1k. About 4k of rent gone in costs. Not allowing for a certain amount of vacancy and tenant issues. You then allow for the management of the units collecting rent, managing tenants and renting. 1500 per unit. That leaves ypu with25-35 to cover cos bof property. At 35 its kind off attractive at 25 its.not.

    Post edited by Bass Reeves on

    Slava Ukrainii



  • Registered Users, Registered Users 2 Posts: 96 ✭✭Aidensfield


    You are correct. Where would you be going putting a 500k around your neck for decades for a return yearly rent of 30k? you could add on another 20k before you even start. You would be better to take your chances in Vegas and have some fun. I have a 2 bed with very small payments that brings in nearly 30k a year with a good tenant in place and i am 50/50 on deciding if i will sell it. You would need your wobbly bits looked at starting out now.

    Post edited by Aidensfield on


  • Registered Users, Registered Users 2 Posts: 96 ✭✭Aidensfield


    Just had a quick read of that article, Poor children. Terrible situation. I had a 2 bed become vacant a few weeks back and it is now laying empty which plays on my mind knowing how needed it is by so many. I need to make up my mind if i will sell it or not, It is beside a hospital and has never been vacant from the day i bought it. It is stuck in a RPZ at around 45 to 50 percent below market so renting before march is not an option. I have a tenant from years back desperate to get it but i just can t give it too him and his other half, They would make great tenants but it is just a no no. After march the rent would change from 940 to approx 2000 but in this case it would be out of reach for them. If i do decide to sell it i feel like i would get a much higher price for it at the end of 2026 after the crap hits the fan. it is in a perfect spot for letting. This would mean it will be laying empty even longer. I really need to get a good sale price for it to make up for a very bad rent for the past several years. In this case i can fully understand that couple becoming angry with me while they look at the property empty. The haters will pounce on this post.



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  • Registered Users, Registered Users 2, Paid Member Posts: 22,102 ✭✭✭✭Bass Reeves




  • Registered Users, Registered Users 2 Posts: 1,923 ✭✭✭ballyharpat


    I don't think you are correct. I'm in the construction industry and also in clubs where there are youths. There are very few youths interested in manual labour. They will do anything but manual labour in the most part. I even see them going into hotels as porters etc , where there is practically no career advancement, no training, unskilled. The construction industry is crying out for them and paying massive wages, they still look down on it.

    I was guilty of being that way when I was growing up, no one told me that construction workers/tradesmen earned good money. I was told and pointed in the direction of being clean. well groomed, and doing what they considered 'easy' work.



  • Registered Users, Registered Users 2 Posts: 15,034 ✭✭✭✭Red Silurian


    It's your house, as long as you're willing to pay the vacant property tax, which I assume you are, there's no rule against you leaving it empty. Personally I'd prefer to rent it out for the €940 to a tenant you know and trust than let it sit there owing you money on vacant property tax

    i would get a much higher price for it at the end of 2026

    I'd be very careful about this. We were in the midst of a house price boom in 2008 when the s#1t hit the fan there. After that experience my advice to anybody thinking of selling a house is to do it as quickly as possible regardless of the market rates



  • Registered Users, Registered Users 2 Posts: 1,589 ✭✭✭Emblematic


    I don't think that is the entire point of the new legislation. I think the main point is that going forward under the new rules, those who rent will have the possibility of security of tenure. Landlords won't have the opportunity to evict merely to sell unless a) the tenant quits voluntarily or b) for small landlords, it is at the end of the six year period. But as a secondary aspect, the landlord gets to reset rents to market rates every six years and so there won't be a build up of market distortion over time.

    It is also an opportunity for those that don't like regulation to get out and free up the property for those that don't mind it or for owner-occupiers to buy.



  • Registered Users, Registered Users 2 Posts: 1,589 ✭✭✭Emblematic


    The more financially literate landlords are not put off by the new rules.

    Ires Reit further notes that new-builds will be exempt from the 2% cap, and rents can increase in line with inflation, and this rule change, alongside their ability to reset rents to market value between tenancies will allow them to “increase rental income reversion” and to have “increased cashflows”.

    The firm notes that they believe this will allow for “more apartment building”.

    Eddie Byrne, the CEO of Ires Reit, told investors in the call that the regulatory landscape in Ireland has changed “for the better”.



  • Registered Users, Registered Users 2 Posts: 3,664 ✭✭✭Fol20


    talk about clear bias…


    you have carried on showing very little objectivity in all your comments.

    so if some landlords sell. They are financially literate in your eyes…


    Funds pay little to no tax in Ireland. Vs 52pc for small landlords.

    Ires sold off a small portion of stock post the new reform announcement last year and will also sell more this year. (They are buying some stock also this year but it still doesn’t paint a great picture if they are selling as well and their entire portfolio will be less this year vs last). I guess they must also be financially illiterate…



  • Registered Users, Registered Users 2 Posts: 179 ✭✭thenuisance


    When I looked at whether investing in a rental property would be worth it I looked for advice and the advice I got was that you should pay no more than 15 times annual rental if you are buying cash and 12 times if you are borrowing to let. That seems to tally with what you are saying - do people believe that these still hold. I guess it means a two bed getting 2.5k pm (30k per year) is worth 450 to a cash buyer - 360 to a borrower. In some parts of Dublin those ratios are achievable - around me (a big rental area) two bed rental properties are more often over 450 than under.

    I also wonder how many properties get 2.5k a month. It will be interesting to see the figures when (if?) the RTB starts publishing them. Anecdotally the two beds around me are running less than 2k - it's mainly HSE staff - they talk about 750 a month for your own room 500 to share - the figures don't seem to tally but I suppose each place is different and some are 3 beds.



  • Registered Users, Registered Users 2 Posts: 179 ✭✭thenuisance


    Obviously they think there's still plenty of scope for gouging.



  • Registered Users, Registered Users 2 Posts: 179 ✭✭thenuisance


    We are still building office space - despite the fact that we have no-one to fill it. One report last year suggested we had office space for 50000 workers - they're not going to come here if they've nowhere to live. So lets disincentivise office building - reduce planning permissions for office space and rezone the land for housing. There was a whole chunk of land set aside for offices on Kevin St - it's been abandoned - It's an ideal site for housing. Same with the Charlemont SCR site - housing was torn down , the land was abandoned for years , then primarily developed as office space with token apartment building and still a huge chunk round the old Bernard Shaw still undeveloped. This is what planning is supposed to be for - thats where the state needs to get it's finger out.



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  • Registered Users, Registered Users 2 Posts: 325 ✭✭MadeInKerry


    I think the ones staying are the financially illiterate ones. The Reits will restructure in a way that suits their business model and the new rules. Plus its not their own money they are playing with. That option doesnt work for small landlords. Their whole life is invested in something that is not viable now and risky as hell as the goal posts are constantly moving. If they are not taking this opportunity now to cash in and get out of the business, well they should know how it works at this point and its not good for them.

    As for anyone buying to let now. They are just plain stupid. As is anyone renting a house they have inherited or moved out of for a few years.



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