Originally Posted by Donald Trump
This is bullshit in fairness. What happens when your average amateur landlord sells up? Do they bulldoze the house into the ground?
When LLs sell, the property is not being bought by investors for rental purposes. A recent study showed 50k LLs have left the sector since 2013 and the amount of available rental units has significantly decreased. A rudimentary understanding of the rental market should be enough for you to understand that when LLs leave the market and the property is no longer available for rental, that reduces supply at a time when demand increases.
I know you didn’t want to read the links I posted earlier, had you done so you would be more informed about institutional investors buying unfinished developments so rents can be maximised. This only applies to Dublin, less so to other Irish cities and towns where the small/amateur landlords you seem to despise so much, are the only LLs providing accommodation.
Of course the property is not bulldozed, hyperbole rarely makes a good point, but unless another small investor buys that property for rental, it is lost to the rental sector, reducing supply even more.
In relation to your earlier assertion that renters are setting the rental market price, I’m afraid that your opinion goes against logic and every economist/tenant interviewed over the last 5 years. Supply and demand are co-dependent. I would be interested to hear from any tenant who reads this thread, and was able to dictate the rent they pay by offering a lower rate in an area like Dublin where need is greatest and supply lowest.