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Landlords selling 2026

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Comments

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


    New grade A office space is highly needed and there is a shortage.

    Old office space is not needed as its not attractive to companies with sustainability targets and so forth and it will lie empty.

    Some of the old office space could be knocked and rebuilt as housing i agree.

    There needs to be more private and mixed use housing in the city centre so people can walk or cycle to work.



  • Registered Users, Registered Users 2, Paid Member Posts: 4,480 ✭✭✭TaurenDruid


    I think what's needed is a variety of solutions, most of which have been talked about, some of which are "policy, honest!" but have little resources devoted to them:

    • incentives to make the empty/unused units above shops back into liveable accommodation, like every other city has;
    • actual enforcement of derelict building taxes and charges;
    • actual enforcement of AirBnB/short-term letting bans and planning permission requirements (and a reduction from the 20,000 population exemption!);
    • and as you say, replace old office space with modern top-class NZEB offices and/or housing;
    • increase the height limits to at least some disagree.

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  • Registered Users, Registered Users 2, Paid Member Posts: 4,480 ✭✭✭TaurenDruid


    I mean, your moral choices are not my moral choices - but hate? No.

    Personally, I wouldn't be leaving somewhere empty, in the middle of a housing crisis, but that's just me.

    "I need to make up for a very bad rent" - well… do you, though? Were your expenses covered? Did you even manage to make a small profit? Happy out, then! It's not a competition. None of us are ever going to beat Elon Musk in the "holy ****, I'm so rich!" race. At the end of the day, you still have an asset you can liquidate if you want to, or you can continue to generate an income from it. Either a modest one, starting right now, or a "going market rate" one, in a few weeks' time.

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  • Registered Users, Registered Users 2 Posts: 2,467 ✭✭✭mrslancaster


    Do whatever is best for you and your family whether that’s selling, re-letting or keeping it for your own use - it’s your choice. There’s a lot of people who still think private landlords have some obligation to let their property forever, ignore them.

    No question there is a shortage of rental property right now but private landlords didn’t cause the lack of supply and it’s not their responsibility to fix it. The state and many tenants seem to have a preference for corporate landlords who will offer long term tenancies with none of the problems associated with individual landlords, and maybe it will be better for tenants when all the small landlords have disappeared. If the individuals providing the properties are demonised and portrayed as evil gougers, it’s not surprising they’re leaving in droves.

    Who knows - maybe corporate landlords will transform the rental market, after all, they’re definitely not in business to make a profit unlike that other shower who are leaving, bad cess to them 🙄🙄



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


    Thanks.🙂 Yes i will do what i think is best in the end and certainly won't be influenced by the haters. This original post has gone way off topic and i never expected it to run as long as it did. We could keep the chat going for another year but at the end of the day my comments or anyone else's be they from tenants, other landlords, other business people or even from the angry ones won't change how it all plays out. Most people who commented here are all thinking the same with regards to the poorly thought out decisions, It is only natural some will have an opposite way of thinking the same as people would with any other topic be it politics, sport, finance etc. Hopefully someone got some value from the original post and maybe even it helped them decide what they should do in making theirs own decisions. Have a great weekend EVERYONE



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


    It would seem now that existing landlords have been mislead yet again. Anyone who sold or is selling and not renting again was smart enough to realize that this was a trap. And it turns out it was a trap. Listening to the RTBs questions and answers yesterday, It turns out the RTB are changing the definition of market rent to be what they say it is and not what a property would achieve that is actually on the open market. They will have a database and give a landlord 10 current example rents that they can choose from when setting the rent to market rent. These will all be rent controlled rents, so are not market rents at all. That was the only thing in the new legislation for new landlords and it was a lie. I fail to see how anyone would be interested in being a landlord at this point and I fear that many who were waiting to decide whether to rent their property again, will now choose not to. And I dont see anyone other than owner occupiers buying those properties now. Could be a good time to buy though if you are an owner occupier. Bad if you are renting though.



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


    However remember that a lot of people are forced to rent because properties are taken up by landlords.



  • Registered Users, Registered Users 2 Posts: 4,217 ✭✭✭spaceHopper


    Govt, Opposition clash over 'eye-watering' rent hikes

    The Dáil debate was sparked by Ireland’s largest residential landlord, Ires Reit, saying that the changes - due to take effect this weekend - could see a 25% rise in its rental income over the next ten years.

    I did some playing in excel, a 2% PA rise give a 21.9% rise over 10 years. If you have a 12.5% rise in the 6th year it goes up to 34%.

    Personally, I think 2% pa is OK but if interest rates go up then it's not enough. There should be some middle ground, but I'm not sure how. Rebasing every 6 years is bad idea, it's acknowledging that the rent controls are unfair on LL's, so really, they should find a fairer system.

    Start

    1000

    PM

    % Increase

    2

    Year six

    2

    Year

    PM

    PA

    %

    0

    1000

    12000

    1

    1020

    12240

    2.0

    2

    1040.40

    12484.8

    4.0

    3

    1061.21

    12734.5

    6.1

    4

    1082.43

    12989.19

    8.2

    5

    1104.08

    13248.97

    10.4

    6

    1126.16

    13513.95

    12.6

    7

    1148.69

    13784.23

    14.9

    8

    1171.66

    14059.91

    17.2

    9

    1195.09

    14341.11

    19.5

    10

    1218.99

    14627.93

    21.9

    With a 12.5% increase in year six

    Start

    1000

    PM

    % Increase

    2

    Year six

    12.5

    Year

    PM

    PA

    %

    0

    1000

    12000

    1

    1020

    12240

    2.0

    2

    1040.40

    12484.8

    4.0

    3

    1061.21

    12734.5

    6.1

    4

    1082.43

    12989.19

    8.2

    5

    1104.08

    13248.97

    10.4

    6

    1242.09

    14905.09

    24.2

    7

    1266.93

    15203.19

    26.7

    8

    1292.27

    15507.26

    29.2

    9

    1318.12

    15817.4

    31.8

    10

    1344.48

    16133.75

    34.4



  • Registered Users, Registered Users 2 Posts: 2,467 ✭✭✭mrslancaster


    Agree the reset at year six in your chart could be very difficult for sitting tenants if the current housing market continues and the rate of inflation is higher than 2%. But, there might not be any huge six-year reset if market rents are controlled which looks like the governments plan. The Ires REIT can forecast 25% increased income and they have to have a plan, but a lot can happen in ten years. We can all remember the disaster years after the crash, from a madly overheated housing market to Nama and the Troika. Happened very fast iirc.



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


    How can market rents be controlled by the government other than with the 2% annual cap?

    Is it that the govt maintain a market rate value for all properties in an area. This value would be based on new to market rental agreements only, since these are the only properties with an unrestricted value.

    Following year 6, is the landlord able to set the rent to whatever value they like or will the government still define what the maximum rent can be.



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  • Registered Users, Registered Users 2 Posts: 1,172 ✭✭✭DubCount


    "Market Rent" is not whatever you want to charge or whatever a tenant is prepared to pay (according to the government). You go to the RTB register that will now show rent amount (though thats not there that I can see at the moment). You need to pick 3 comparisons of similar character in the same area (same number of bedrooms, sq ft, BER) which have begin in the last 3 months. You send a rent setting notice to the tenant and the RTB on the same day, quoting your 3 comparatives.

    You really didnt think it was going to be simple did you.

    Good luck if you are renting a one off home in Leitrim - finding 3 comparative properties let in the last 3 months. Not sure how thats supposed to work.



  • Registered Users, Registered Users 2 Posts: 924 ✭✭✭bored65


    talking to estate agent who seeing a flood of homes coming on market and will probably endup out of rental pool

    Daft.ie statistics in few weeks in their report should be interesting

    The government is hellbent on complete destruction of rental sector



  • Registered Users, Registered Users 2 Posts: 4,217 ✭✭✭spaceHopper


    I don't think they are I think it's more they haven't got a clue what they are doing.



  • Registered Users, Registered Users 2 Posts: 2,467 ✭✭✭mrslancaster


    All the changes in the past twenty years haven’t made much difference really so you could be right.

    The minister said the state are providing €9bn but €11bn is needed from the private sector each year to ramp up housing supply. He said “….and the government are creating that framework through putting in the strongest tenancy measures in the history of the State, while giving the market and investors certainty as well, so we can drive that supply”. Is that €20bn needed just for the rental market and is the framework the new rental rules?

    How long will it take before all those apartments from institutional landlords are available? Making the rules for landlords even more stringent at this stage wasn’t a great idea if it causes thousands of them to leave. Of course some of the ex-rental stock will be bought by owner occupiers which is good but until the promised rental apartments are available, tenants can’t find a place to live.



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


    I wonder are they flushing out supply for council housing

    A total of €17 million has been announced for Limerick under the 2026 Second Hand Social Housing Acquisitions Programme



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


    I agree and have made the same point.

    A great way to reduce social housing lists and that seems to be the governments main focus.

    Forget everyone else that doesnt qualify for social housing but as those folks aren't on any waiting list anyway, who is going to notice that we robbed Peter to pay Paul, right?



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


    If that is the case, the market rent rule will lead to supply in Dublin being constrained even further and will drive accelerated price increases for new lets.

    Instead of renting out as soon as the property is empty, landlords would be better waiting 3 to 6 months to allow 3 other new properties to rent out at higher prices, in order to achieve a higher rent price themselves.

    Wait 9 months and the landlord secures an even higher rental price.

    Wait 12 months and...



  • Registered Users, Registered Users 2 Posts: 172 ✭✭GalwayBmw


    I don’t think policymakers are so naive that they don’t understand they can’t cheat the market. It’s all about supply and demand, with some temporary distortions — so stay firm and don’t let those distract you.

    Sooner or later, governments may radically change their view that population growth is unconditionally a good thing. There is a real risk that people could become a burden — and what would happen to the rental market then? No one knows.

    In my view, emission-driven inflation is the main risk right now. Market players will need to hedge against it.



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


    On the other hand, how are people on very low incomes (kitchen porters, cleaners, childcare assistants etc.) supposed to afford apartments in cities without social housing of one sort or another?

    Post edited by Emblematic on


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


    We 100% need social housing of course we do.

    I am not saying we shouldnt invest heavily in it because we should.

    There are consequences for private renters however if a lot of ex private homes are flipped to social housing.



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


    If waiting lists were very short or the council were building or buying units that were going empty, then you would have a point.

    However many renting privately will be doing so because of the absence of sufficient public housing. The evidence for this is very long waiting lists. Provide enough public housing and fewer are forced to rent privately.



  • Registered Users, Registered Users 2 Posts: 1,553 ✭✭✭csirl


    +1 All 3 houses sold on my street in the past year were bought by the council.



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


    Not nice obviously if you are trying to get into the landlord business, but good for people who can't afford rents or to purchase a place to live.



  • Registered Users, Registered Users 2 Posts: 1,553 ✭✭✭csirl


    Not nice for local people trying to buy a place to live.



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


    That is true, but remember that a fair proportion of people can't afford either to buy or to rent on the private market. For these people, social housing is the only option to be properly housed. At least with social housing, rents are reasonable.

    If purchase or building by private landlords was made more attractive (by, for example reducing tenants' rights or allowing eviction on demand) then those looking to buy would still be losing out but, in addition, those forced to rent would be worse off.

    I do take the point. Ultimately the solution involves greatly increasing the amount of overall building for all types of accommodation together with a reduction in population growth caused by immigration. Both of these are needed.



  • Registered Users, Registered Users 2 Posts: 1,553 ✭✭✭csirl


    You"re going to get societal problems if people who are not working and not from the locality are prioritised over those who are working and paying taxes and from the locality.

    The council buying houses takes these houses permanently out of the very limited pool of housing available for working families to buy.



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


    However remember that the income limit for a single person to be eligible for social housing is approx 35K (it ranges from 30k to 40k depending on location) after tax. Before tax, an income of 35K translates to a before-tax salary of about 45K, which is actually close to or above the median before-tax salary in Ireland. So it includes a lot of people who would otherwise have to rent from private landlords.

    Then there's cost-based housing where I believe the rents are about 20% below market rents and with a lot more security than private rentals. The after-tax income limit is 59K which translates to a salary of 96K before tax. 96K is probably in the top 5% of salaries in Ireland. So they won't all be dole scroungers.

    Let me pose a question: let us say you were talking to a social housing tenant or a cost-basis tenant. How would you persuade them that you as a private landlord would provide a better value service to them? And remember that you would be insisting that they could be issued with an eviction notice at any moment through no fault of the tenant, for example, to move in a relative (under the old rules a nephew or niece) or to sell the property. And also the rent you will be charging will be substantially higher.

    We might complain that the existence of social housing is unfair on private landlords but this idea of fairness assumes there's a group, the landlords, that are owed a living by society. That is not the case. It may be the case that society is served better by a reduction in the number of private landlords if something better is available.



  • Registered Users, Registered Users 2 Posts: 1,553 ✭✭✭csirl




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


    It is more of a hypothetical situation. Imagine that you are for the sake of argument. I would also like to hear from those who are actual landlords.



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


    If social houses didnt have to have all the bells and whistles they would be cheaper and faster to build.



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