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How are landlords getting away with this??

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Comments

  • Closed Accounts Posts: 809 ✭✭✭Blaizes


    It says new kitchen.

    True, just can’t really see the kitchen area properly in the photos but assume it has one.


  • Registered Users Posts: 972 ✭✭✭redarmyblues


    Rent prices have doubled in Berlin in the last decade and the local government is planning to freeze rents as a result. Just browsing through Daft Sligo and I see an apartment that I happen to know was rented in 2003 for 700pm now asking 850pm.

    A couple on minimum wage would pay 21% of their income on rent in that apt compared to average across the board rate for all earners of 55% in Dublin.

    Also a cursory examination of the Berlin rental market sees 2 bed apts renting for about twice the price of 2 beds in Sligo. Also the minimum wage in Berlin is 8.50 ph while it is 9.80 in Sligo.


  • Registered Users Posts: 38,247 ✭✭✭✭Guy:Incognito


    .

    Housing is a right - at least when you'e not living some despotic third world culdesac from hell.

    Even if that were true, why would that be the problem of a private landlord?


  • Closed Accounts Posts: 4,732 ✭✭✭BarryD2


    Dav010 wrote: »
    Housing is not a right, and the sooner you understand that society owes you nothing, the better your life will be. You must earn the rights you believe you are entitled to. Uncivilised or not, my taxes should not be spent on you if you will not help yourself by earning a living and paying for a nice place to live.

    Agree with you to an extent, but that extent gets stretched when people who are making an effort to earn a living get caught in a trap of rising rents thus limiting their capacity to save and get their own mortgage. This represents a transfer of wealth to another sector of society that has the means to borrow and purchase buy to lets. This is divisive and creates resentment in society.

    Put it this way, my generation was able to rent, save and getting a house to live in was manageable within our own resources. I look at our young adult children now, their outgoings on rent and just don't see how they can get sorted without financial assistance. Unless this is addressed, the inequity of this situation will eat away like acid at the core of societal cohesion.


  • Registered Users Posts: 13,865 ✭✭✭✭Dav010


    BarryD2 wrote: »
    Agree with you to an extent, but that extent gets stretched when people who are making an effort to earn a living get caught in a trap of rising rents thus limiting their capacity to save and get their own mortgage. This represents a transfer of wealth to another sector of society that has the means to borrow and purchase buy to lets. This is divisive and creates resentment in society.

    Put it this way, my generation was able to rent, save and getting a house to live in was manageable within our own resources. I look at our young adult children now, their outgoings on rent and just don't see how they can get sorted without financial assistance. Unless this is addressed, the inequity of this situation will eat away like acid at the core of societal cohesion.

    Very valid points, But that still does not support the ops assertion that housing is a right every is entitled to. I disagree with the transfer of wealth to another section of society, most single property Landlords are middle class on average incomes who no doubt worked to save in order to invest.

    I don’t think any generation found house buying easy, most bought what and where they could afford, take the op as an example here, he doesn’t want to live outside town in ab”bog” and wants a bigger apartment at a cheaper price, why would he feel entitled to that?


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  • Registered Users Posts: 972 ✭✭✭redarmyblues


    Dav010 wrote: »

    I don’t think any generation found house buying easy, most bought what and where they could afford, take the op as an example here, he doesn’t want to live outside town in ab”bog” and wants a bigger apartment at a cheaper price, why would he feel entitled to that?

    Because he's worth it. A hypothetical couple on minimum wage renting the featured property would have approx 29K after deductions and rent, if they could make sacrifices for 2 years and live on 20K between then not impossible, they would get less on SW could save enough for a deposit for this https://touch.daft.ie/sligo/houses-for-sale/sligo/12-mail-coach-road-sligo-sligo-2271078.

    Their repayments would be about 260pm which would leave then in a position to save or borrow to do the improvements the property needs, it can be done, but if you expect a penthouse on a plate in D2 like the OP, fugeddaboutit.


  • Registered Users Posts: 104 ✭✭CoffeeBean2


    Mate - I've shared all muh life up until 2 years ago.

    I've lived with junkies, perverts, degenerates.
    Hell there was even a hooker working upstairs at in one place.

    We all have experience with it, from college days, to early working - before you met your wife - days.

    This is probably one of the reasons why some people prefer to pay a little extra, get a place on their own, and avoid having to live with junkies, perverts, degenerates and hookers.

    Each to their own, if you prefer to pay less and live with those type, good for you. If you don't want to pay for this place, cool too, jog on, someone will. If no one wants to pay this level, the price will drop before too long.


  • Registered Users Posts: 2,267 ✭✭✭fash


    If I were to privately rent a home, I would not extort tenants; period.
    Why don't you do that in that case ? Work really really hard, scrimp and save, buy a really lovely property- and then rent it out to someone for a wonderfully low, considerate and even below cost price.

    Then come back here and tell us how it went.


  • Registered Users Posts: 1,238 ✭✭✭The Student


    BarryD2 wrote: »
    Agree with you to an extent, but that extent gets stretched when people who are making an effort to earn a living get caught in a trap of rising rents thus limiting their capacity to save and get their own mortgage. This represents a transfer of wealth to another sector of society that has the means to borrow and purchase buy to lets. This is divisive and creates resentment in society.

    Put it this way, my generation was able to rent, save and getting a house to live in was manageable within our own resources. I look at our young adult children now, their outgoings on rent and just don't see how they can get sorted without financial assistance. Unless this is addressed, the inequity of this situation will eat away like acid at the core of societal cohesion.

    People who are making an effort are being squeezed out by those who are not making an effort but are being housed because they shout the loudest.

    A transfer of wealth is all what business is about, what people forget is that the risk of being a small one property landlord is very high. If the tenant stops paying rent you are in serious trouble. The tax rate for small landlords is prohibitively high and then you have the capital gains tax.

    Yes previous generations were able to rent and save to buy, but this was in times when the population was smaller, the rental standards were lower. The Govt is playing to the populist vote of trying to house people but not via the state which is one of the reasons the small private landlords are leaving the market.

    I agree with you that the current situation will eat away at society but there needs to be some equality and some harsh decisions made.

    We can't all live where we want people who purchase and rent privately do so within their budgets. This principle should be extended to those in social housing if you want to live in particular areas then your rent should reflect that area and its amenities.

    Also with the growth in population city's need to expand either outwards or upwards. While people say we need to expand upwards once suggested its close to them they object.

    There does not seem to be any actual joined up thinking, just providing accommodation is not the answer, just dumping people in a property is not the answer you need schools, infrastructure etc.

    The private rental market is a cash cow for the govt without any risk. A first step would be to offer tenants a tax credit towards there rent which could be used towards a deposit on a property.


  • Registered Users Posts: 5,364 ✭✭✭CalamariFritti


    the_syco wrote: »
    It has a double bed, so would suit a couple. Heck, it would suit a single person.

    It's also the cheapest letting in Sligo.

    Which kind of underlines my point.


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  • Registered Users Posts: 5,364 ✭✭✭CalamariFritti


    Presumably if you were selling a product or providing a service to earn your money youd keep the price as low as possible?

    No I would not. But at the same time I wouldn't be angling at the utmost I can get according to the market. I'd cover my costs and make a fair profit if the market allows it, but I think I'd actually feel a bit shabby to ask for 680 for this. Couldn't be much more than 25m^2. Thats kinda 'hungry'.

    Edit: I know being landlord can be nightmare btw. I wouldn't fancy it myself. Not saying its the landlord at fault for this situation.




  • No I would not. But at the same time I wouldn't be angling at the utmost I can get according to the market. I'd cover my costs and make a fair profit if the market allows it, but I think I'd actually feel a bit shabby to ask for 680 for this. Couldn't be much more than 25m^2. Thats kinda 'hungry'.

    Edit: I know being landlord can be nightmare btw. I wouldn't fancy it myself. Not saying its the landlord at fault for this situation.

    I’d probably ask more to be honest to test the water. Letting property is a business end off. Maximise profit is the aim of the game!


  • Registered Users Posts: 5,364 ✭✭✭CalamariFritti


    So you're saying its all out cut throat style? Any - for want of a better word - ethical consideration does not come into it? If the rent paid your cost/mortagage/whatever three times over you'd still keep turning the screw if the market gives that?


  • Registered Users Posts: 13,865 ✭✭✭✭Dav010


    So you're saying its all out cut throat style? Any - for want of a better word - ethical consideration does not come into it? If the rent paid your cost/mortagage/whatever three times over you'd still keep turning the screw if the market gives that?

    Maximising profits on an investment is not unethical or cut throat, this is an investment, not philanthropy.

    Was it unethical for tenants to request rent decreases when there was a glut of unoccupied rentals after the economic crash? No it was not, it was to be expected because the market was oversupplied and tenants had a choice of rentals.

    Strange the way some posters call for LLs to treat renting as a business and investment as a risk you knowingly entered into, then criticise for maximising profits, which is of course the aim of all competently run businesses.


  • Registered Users Posts: 2,419 ✭✭✭antix80


    So you're saying its all out cut throat style? Any - for want of a better word - ethical consideration does not come into it? If the rent paid your cost/mortagage/whatever three times over you'd still keep turning the screw if the market gives that?

    Make hay while the sun shines.


  • Registered Users Posts: 5,364 ✭✭✭CalamariFritti


    It seems bit short sighted though. And it will diminish your chances of a hassle free long term tenancy with both sides being happy, I'm not a landlord but I would think such a strategy would result in a revolving door lettings where the tenants will also take every opportunity to get one back over the landlord like not paying and dragging the arse out of eviction and leaving the place in a state etc. I guess it suits some but it wouldn't be for me from either side.


  • Closed Accounts Posts: 11,221 ✭✭✭✭ Henley Stocky Puffball


    Plus Germans aren't a bunch of greedy bastards like the Irish.

    What utter nonsense.
    muh

    So much cringe!
    Theoretically - we're only as strong as our weakest link.

    Housing is a right - at least when you'e not living in some despotic third world culdesac from hell.

    More rubbish, what planet are you actually living on?

    Housing is a right, oh wow! :D:D:D


  • Registered Users Posts: 13,865 ✭✭✭✭Dav010


    It seems bit short sighted though. And it will diminish your chances of a hassle free long term tenancy with both sides being happy, I'm not a landlord but I would think such a strategy would result in a revolving door lettings where the tenants will also take every opportunity to get one back over the landlord like not paying and dragging the arse out of eviction and leaving the place in a state etc. I guess it suits some but it wouldn't be for me from either side.

    Short sighted in what way?

    Let’s say for argument sake you give a €150 discount on the property in question, this would still be €50 above what it was the last time the op viewed it. That would be €1800 over one year, €3600 over two. Would you refuse an €1800 pay increase if it was offered to you? Would you be happy to have to take that amount out of your wages to pay the mortgage if interest rates go up, baring in mind they are currently at a historic low?

    In the current market, I think most landlords welcome short term 6-12 month lets, particularly if they are considering selling which it seems obvious many are as evidenced my the 50k who have left over the past couple of years.

    I really think you will have to wait until tens of thousands of your own money is tied up in an asset that you having to pay a monthly mortgage on, before you can appreciate the importance of rental income and maximising profits.

    And as an aside, I have high rental city apartments, I also have a beautiful 4 bed house which I will complete the sale on this week or next. The house was low rent, guess which property got wrecked? The low cost house.


  • Registered Users Posts: 5,364 ✭✭✭CalamariFritti


    Dav010 wrote: »
    Maximising profits on an investment is not unethical or cut throat, this is an investment, not philanthropy.

    This ignores the fact that housing isn't just like any other type of commodity. Renting out a place to live in for someone else is not quite the same as selling latte macchiatos. Housing is part of a functioning society and ownership has not just entitlement to profits but it also brings responsibilities I would have thought .


  • Registered Users Posts: 13,865 ✭✭✭✭Dav010


    This ignores the fact that housing isn't just like any other type of commodity. Renting out a place to live in for someone else is not quite the same as selling latte macchiatos. Housing is part of a functioning society and ownership has not just entitlement to profits but it also brings responsibilities I would have thought .

    To you perhaps, to the person struggling to pay a mortgage on it or worried about the people he/she has let into it, it is very much a commodity/service which has to be paid for. It is not the property owners responsibility to provide accommodation at a rate which benefits society as a whole.

    You are right about it not being like selling coffee, if the consumer doesn’t want to pay for the coffee or messes up your shop, you can refuse service and ask them to leave.


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  • Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    I'd cover my costs and make a fair profit if the market allows it, but I think I'd actually feel a bit shabby to ask for 680 for this.
    Housing is part of a functioning society and ownership has not just entitlement to profits but it also brings responsibilities I would have thought .

    As housing is part of a functioning society, would you advocate Tenants pay above market rate if the market rate is below cost?


  • Registered Users Posts: 5,364 ✭✭✭CalamariFritti


    I don’t know I’m not begrudging ownership nor am I against making profit. I just find some of the stuff I’m seeing excessive and wonder how people keep a straight face asking for such money for shoe box properties.

    They usually say it’s not my fault. It’s the sytem its the market it’s the government etc. But at the end of the day it’s them asking for that crazy money.


  • Registered Users Posts: 1,238 ✭✭✭The Student


    I don’t know I’m not begrudging ownership nor am I against making profit. I just find some of the stuff I’m seeing excessive and wonder how people keep a straight face asking for such money for shoe box properties.

    They usually say it’s not my fault. It’s the sytem its the market it’s the government etc. But at the end of the day it’s them asking for that crazy money.

    It actually is the system, with all of the state interference landlords need to protect themselves because the state wont and has and will continue to introduce legislation that is more tenant focused and anti landlord.

    What you need to be mindful of is that at the end of the day its a business transaction pure and simple. Landlords will charge what the market will bear. When the floor fell out of the rental market after the crash tenants could pick and choose accommodation. Tenants were not complaining about low rents then.


  • Banned (with Prison Access) Posts: 1,355 ✭✭✭bo0li5eumx12kp


    Pffff - it's been let apparently, cause the ad is taken down.




  • Pffff - it's been let apparently, cause the ad is taken down.

    Hardly surprising, a nice looking apartment in the middle of a large town for 680 euro is good value. Loads of people are paying that to live in a room in a houseshare in other parts of the country.

    None of your arguments hold up at all having see the pictures, your complaints simply don’t match the apartment whatsoever.


  • Moderators, Society & Culture Moderators Posts: 38,162 Mod ✭✭✭✭Gumbo


    Pffff - it's been let apparently, cause the ad is taken down.

    Not surprised.
    Modern looking.
    Clean looking.
    Centre of city.
    One bedroom.
    Privacy.
    Only €680 a month.

    A couples dream.


  • Registered Users Posts: 37,295 ✭✭✭✭the_syco


    They usually say it’s not my fault. It’s the sytem its the market it’s the government etc. But at the end of the day it’s them asking for that crazy money.
    It's either ask for crazy money, or get fined for not accepting HAP.


  • Registered Users Posts: 81,223 ✭✭✭✭biko


    700 big ones.
    You know "big ones" means 1000 yeah?


  • Registered Users Posts: 972 ✭✭✭redarmyblues


    Sligo is one of the cheapest place to rent in Ireland according to a piece in the Indo today coming 30th of 36 local authority areas with an average rent of 790e pm.


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  • Banned (with Prison Access) Posts: 1,355 ✭✭✭bo0li5eumx12kp


    Sligo is one of the cheapest place to rent in Ireland according to a piece in the Indo today coming 30th of 36 local authority areas with an average rent of 790e pm.

    No link?

    Mullingar seems okay in terms of cost also.

    But cheap or no, the rental system is a shambles and the minister for housing has a lot to answer for; to be fair, he seems like a f**k up.


    Anyone have opinions on what renting in Sligo is like first hand?

    If it's cheap, what's the reason for that?

    I like the area by the river with the cobble streets.


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