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Rent Freeze - the mechanics of

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Comments

  • #152
    Antares35
    Registered Users Posts: 3,845 ✭✭✭Antares35


    Fann Linn wrote: »
    3 month ban on evictions just passed plus freeze on rent increases in Ireland.

    Where can we read about this?


  • #153
    Fann Linn
    Registered Users, Registered Users 2 Posts: 7,819 ✭✭✭Fann Linn


    Antares35 wrote: »
    Where can we read about this?

    Live on rte 1 as we speak from Dail Eireann


  • #154
    Antares35
    Registered Users Posts: 3,845 ✭✭✭Antares35


    Fann Linn wrote: »
    Live on rte 1 as we speak from Dail Eireann

    Thanks!


  • #155
    Samuel T. Cogley
    Registered Users, Registered Users 2 Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    In practical terms it makes no difference. No Judge was going to give an eviction order given the current situation anyway. Anyone unable to pay now was looking at a year before eviction was likely anyway.


  • #156
    Zulu
    Registered Users, Registered Users 2 Posts: 10,965 ✭✭✭✭Zulu


    Samuel T. Cogley wrote: »
    In practical terms it makes no difference. No Judge was going to give an eviction order given the current situation anyway. Anyone unable to pay now was looking at a year before eviction was likely anyway.
    And no eviction process started now or over the coming weeks would get to a point of eviction within the 3 months.

    Someone acting the maggot months ago however, a LL who has been trying to evict someone due to arrears or antisocial behavior for the past year is now screwed!?!


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  • #157
    LuckyLloyd
    Registered Users, Registered Users 2 Posts: 36,403 ✭✭✭✭LuckyLloyd


    Just formalises what we all knew to be the case.


  • #158
    Antares35
    Registered Users Posts: 3,845 ✭✭✭Antares35


    What happens where the tenant is still employed and hasn't had a pay cut? Presumably they will be required to keep paying their rent and LL in turn will be required to keep paying their mortgage? If LL needs to show proof to bank that no rent/ income is being received in order to avail of the 3 month break, then does a tenant also need to prove same?


  • #159
    Fann Linn
    Registered Users, Registered Users 2 Posts: 7,819 ✭✭✭Fann Linn


    Antares35 wrote: »
    What happens where the tenant is still employed and hasn't had a pay cut? Presumably they will be required to keep paying their rent and LL in turn will be required to keep paying their mortgage? If LL needs to show proof to bank that no rent/ income is being received in order to avail of the 3 month break, then does a tenant also need to prove same?


    Paschal said something like that last night. I'm sure the fine details will come out later today.


  • #160
    Spencer Winterbotham
    Registered Users, Registered Users 2 Posts: 99 ✭✭Spencer Winterbotham


    Zulu wrote: »
    So your plan is to cut your income off now and get in before the rush is it?

    Are you expecting the breakdown of society?


    Well there's a third type apparently - one that give ups their income voluntarily for the benefit of those who might or might not need it.
    Fair play to you.

    Ok.. I will explain. I have a portfolio of several houses and apartments... I cancelled all Mortgage Direct Debits.. So I will not be paying any mortgages for the foreseeable... with or without the bank's consent.

    All my tenants are casual type workers... they are all unemployed now... I know they can't pay..

    I have no idea how this will end but if you think things will return to the way they were you are wrong.

    The entire world economy is going to stop.... do you understand what that means?

    Even in the hardest times of the recent recession or the depression 100 years ago... there was still economic activity...

    All economic activity is stopping... the gears that keep the world economy driving are grinding to a stop...

    This has never happened before.

    There is no amount of government money in the world that can keep the show on the road for another month... let alone another 6 - 18 months.. things are going to change.

    Really, really think about that.


  • #161
    tom1ie
    Registered Users, Registered Users 2 Posts: 10,749 ✭✭✭✭tom1ie


    This thread right here is why I wouldn’t want to be a landlord.
    Tenants cannot see this from a landlords point of view.
    If I’m an owner occupier and I loose my job, fair enough I don’t have to pay my mortgage as I get a break, but do ya think the bank is going to be out of pocket on this?
    Will they fcuk. They add the interest on to the remainder of the loan.
    In the same way think of the LL with the mortgage, they get hit with the interest paid over the remainder of the mortgage but do they get more pay off the tenant?
    Do they fcuk.


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  • #162
    PommieBast
    Registered Users, Registered Users 2 Posts: 2,807 ✭✭✭PommieBast


    Antares35 wrote: »
    What happens where the tenant is still employed and hasn't had a pay cut? Presumably they will be required to keep paying their rent and LL in turn will be required to keep paying their mortgage? If LL needs to show proof to bank that no rent/ income is being received in order to avail of the 3 month break, then does a tenant also need to prove same?
    I would not be surprised if for some people quitting their job just to get the rent write-off would actually make economic sense.


    ..or ask their company to change which bank account salary is paid into :D


  • #163
    sbsquarepants
    Registered Users, Registered Users 2 Posts: 11,812 ✭✭✭✭sbsquarepants


    Spencer Winterbotham wrote: »
    Ok.. I will explain. I have a portfolio of several houses and apartments... I cancelled all Mortgage Direct Debits.. So I will not be paying any mortgages for the foreseeable... with or without the bank's consent.

    All my tenants are casual type workers... they are all unemployed now... I know they can't pay..

    I have no idea how this will end but if you think things will return to the way they were you are wrong.

    The entire world economy is going to stop.... do you understand what that means?

    Even in the hardest times of the recent recession or the depression 100 years ago... there was still economic activity...

    All economic activity is stopping... the gears that keep the world economy driving are grinding to a stop...

    This has never happened before.

    There is no amount of government money in the world that can keep the show on the road for another month... let alone another 6 - 18 months.. things are going to change.

    Really, really think about that.

    Have you been drinking the hand sanitiser or something?

    All economic activity is not stopping or anything like it.

    Where I work we have a lot of CNC machinery which comes from a company in northern Italy, roughly halfway between Milan and Genoa - last week we had need to order some spare parts for one of the machines and it was just business as usual, and this is while the country is in lockdown.


  • #164
    shreko
    Registered Users Posts: 69 ✭✭shreko


    I don't see how people think that this will have no impact on the LL. I am an accidental landlord, bought a house years ago and now live in my husbands house. The last thing I want to do is take out a payment break on my mortgage. The assumption is that it just adds the three months to the end of the term, not so. You will still be charged the interest each month which will be added on to the Capital. So for me this will be about €2400 added on to my mortgage at the end of the three months. Not to mention the additional interest I will pay on that €2400 over the term of the mortgage. Its a huge financial hit for the landlord and not all of us are loaded. We are just a normal family and cant afford to cover someone elses rent for three months.

    Im not going to be an asshole about it, obviously if my tenants lose their jobs I will discuss alternatives with them and try and come up with a fair solution but just taking on their housing costs for three months is impossible for us and unfair to make it my responsibility. If they are unemployed shouldnt they be entitled to rent allowance ?


  • #165
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    tom1ie wrote: »
    This thread right here is why I wouldn’t want to be a landlord.
    Tenants cannot see this from a landlords point of view.
    If I’m an owner occupier and I loose my job, fair enough I don’t have to pay my mortgage as I get a break, but do ya think the bank is going to be out of pocket on this?
    Will they fcuk. They add the interest on to the remainder of the loan.
    In the same way think of the LL with the mortgage, they get hit with the interest paid over the remainder of the mortgage but do they get more pay off the tenant?
    Do they fcuk.

    Excuse my ignorance but wouldn't the interest be a fraction of the monthly rent?


  • #166
    tom1ie
    Registered Users, Registered Users 2 Posts: 10,749 ✭✭✭✭tom1ie


    [Deleted User] wrote: »
    Excuse my ignorance but wouldn't the interest be a fraction of the monthly rent?

    So? Will the tenant pay extra to the LL as he’s out of pocket?
    Nope.
    Also it wouldn’t be a small amount depending on the size of the mortgage. There is a few examples explained in earlier posts.
    At one time I considered taking on a buy to let mortgage. Thank the high heavens I didn’t.


  • #167
    shreko
    Registered Users Posts: 69 ✭✭shreko


    Deleted User wrote: »
    Excuse my ignorance but wouldn't the interest be a fraction of the monthly rent?

    Nope unfortunately not for everyone, depends on your interest rate and where you are in the term of your mortgage. The rent I receive every month is €1200. My mortgage is €1140.
    The interest I pay out of the €1140 is approximately €800. So during my "Payment Holiday" for each month I lodge nothing to my mortgage account the €800 interest gets added to the over all debt amount. So If owe €200,000 today in three months time when my "Payment holiday" is over I will now owe €202,400

    So I am basically taking on the majority of my tenants housing costs for three months.

    This doesnt even consider the monthly direct debit I also have for House Insurance, property tax and Boiler servicing on the property which amounts to another €100 or so a month.


  • #168
    sbsquarepants
    Registered Users, Registered Users 2 Posts: 11,812 ✭✭✭✭sbsquarepants


    shreko wrote: »
    I don't see how people think that this will have no impact on the LL. I am an accidental landlord, bought a house years ago and now live in my husbands house. The last thing I want to do is take out a payment break on my mortgage. The assumption is that it just adds the three months to the end of the term, not so. You will still be charged the interest each month which will be added on to the Capital. So for me this will be about €2400 added on to my mortgage at the end of the three months. Not to mention the additional interest I will pay on that €2400 over the term of the mortgage. Its a huge financial hit for the landlord and not all of us are loaded. We are just a normal family and cant afford to cover someone elses rent for three months.

    I'm in much the same boat myself, but it is what it is and it's just not that huge a hit all things considered. Yes the interest will still be charged and it will be added to the capital at the end of the 3 months, but even on a small mortgage adding an extra couple of grand is not going to make a whole lot of difference.

    You may end up paying 4 or 5 grand extra but it's over the life of the mortgage - no one is going to ask you to pony up 5k tomorrow or the next day.

    In my own case i have about 10 years left to pay on the mortgage so lets take 5k as the overall cost, that's €41 a month on the repayments, or a few extra payments at the end.

    It's a pain in the arse but it's hardly life changing.


  • #169
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    Rents already plummeting on daft.

    If it wasnt the virus it was going to be something else.

    Thats the facts of it.

    Rents will have to drop wether landlords like it or not. I expect the adjustment should be made sooner rather than later because there wont be queues of tennants anymore to replace the ones that are going to walk.


  • #170
    Antares35
    Registered Users Posts: 3,845 ✭✭✭Antares35


    dharma200 wrote: »
    Rents already plummeting on daft.

    If it wasnt the virus it was going to be something else.

    Thats the facts of it.

    Rents will have to drop wether landlords like it or not. I expect the adjustment should be made sooner rather than later because there wont be queues of tennants anymore to replace the ones that are going to walk.

    Walk to where? People still need a roof over their head.


  • #171
    shivermetimber
    Registered Users Posts: 270 ✭✭shivermetimber


    One idea would be to consider rewinding the clock so to speak - a mandatory reduction of all rents back to 2014(?) rates across the board. Any new tenancies commenced since then will also be reduced to the 'going market rate' for the size and area at that time according to the index. This would apply to both private and commercial landlords.

    It would remove the max 4% rpz year on year increases, which I imagine nearly every landlord has done to the max of 4% every time and remove the more then 4% increases done outside rpz's. It would reduce rents across the entire country in one swoop, which lets face it has gone beyond ridiculous at this stage and supply isn't going to fix this crisis any time soon.

    Of course it won't suit some e.g. very recent landlords who might have stretched themselves mortgage wise if their rental income were suddenly cut but I imagine it will be a more acceptable measure to a lot of longer term landlords given the situation everyone now finds themselves in.

    Just a quick though and the above could of course be supplemented with various other measures.


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  • #172
    sbsquarepants
    Registered Users, Registered Users 2 Posts: 11,812 ✭✭✭✭sbsquarepants


    dharma200 wrote: »
    Rents already plummeting on daft.

    If it wasnt the virus it was going to be something else.

    Thats the facts of it.

    Rents will have to drop wether landlords like it or not. I expect the adjustment should be made sooner rather than later because there wont be queues of tennants anymore to replace the ones that are going to walk.

    Because once this disease runs it's course all the people who needed a place to live last week (remember the housing crisis, it was a big thing in the news recently) they will all magically have houses??:confused:


  • #173
    Zulu
    Registered Users, Registered Users 2 Posts: 10,965 ✭✭✭✭Zulu


    Spencer Winterbotham wrote: »
    Ok.. I will explain. I have a portfolio of several houses and apartments... I cancelled all Mortgage Direct Debits..
    Did your tenants contact you first, or was this a preemptive strike?
    So I will not be paying any mortgages for the foreseeable... with or without the bank's consent.
    A dangerous game. You're a braver man than me thats for sure. I'd have been talking to the bank first myself.
    All my tenants are casual type workers... they are all unemployed now... I know they can't pay..
    All of them? Wow thats unfortunate. How many people was that in the several properties?
    The entire world economy is going to stop.... do you understand what that means?
    No I dont. What does it mean?
    Really, really think about that.
    ...you weren't in the SAS by any chance?


  • #174
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    sbsquarepants wrote: »
    Because once this disease runs it's course all the people who needed a place to live last week (remember the housing crisis, it was a big thing in the news recently) they will all magically have houses??:confused:

    No,
    Because air b n b will be pretty much finished, air travel will be extortionate, people all over europe too skint to spend a week in dublin or galway, no more big cultural events, mass unemployment and no more false rental economy.

    Have a big long think.


  • #175
    shreko
    Registered Users Posts: 69 ✭✭shreko


    sbsquarepants wrote: »
    I'm in much the same boat myself, but it is what it is and it's just not that huge a hit all things considered. Yes the interest will still be charged and it will be added to the capital at the end of the 3 months, but even on a small mortgage adding an extra couple of grand is not going to make a whole lot of difference.

    You may end up paying 4 or 5 grand extra but it's over the life of the mortgage - no one is going to ask you to pony up 5k tomorrow or the next day.

    In my own case i have about 10 years left to pay on the mortgage so lets take 5k as the overall cost, that's €41 a month on the repayments, or a few extra payments at the end.

    It's a pain in the arse but it's hardly life changing.

    But why should you have to ? Why is it my responsibility to pay their rent .. even over the lifetime of my mortgage. For all anyone knows they could be in a far better financial situation than I am.
    Im not suggesting that I shouldn't help out or try and make things easier on them and Id be fully open to having conversations about reductions and deferred payments. But there has to be some expectation the tenant will try and pay it back, even if they only tried to cover the additional interest. The idea that I just have to pay a strangers rent for three months just doesn't sit right with me. .


  • #176
    sbsquarepants
    Registered Users, Registered Users 2 Posts: 11,812 ✭✭✭✭sbsquarepants


    shreko wrote: »
    But why should you have to ? Why is it my responsibility to pay their rent .. even over the lifetime of my mortgage. For all anyone knows they could be in a far better financial situation than I am.
    Im not suggesting that I shouldn't help out or try and make things easier on them and Id be fully open to having conversations about reductions and deferred payments. But there has to be some expectation the tenant will try and pay it back, even if they only tried to cover the additional interest. The idea that I just have to pay a strangers rent for three months just doesn't sit right with me. .

    I don't think i should "have" to. I certainly don't feel obligated to provide for anyone just because they happen to be renting from me. They are strangers i have a financial agreement with, i haven't adopted them!

    But I do think that it is probably what i'm going to end up doing through necessity by the time the dust settles on this crisis, and all things considered it's not as enormous a burden as some are making out.

    It's far from ideal, but desperate times and all that.


  • #177
    Fian
    Registered Users, Registered Users 2 Posts: 2,193 ✭✭✭Fian


    Zulu wrote: »
    ...you weren't in the SAS by any chance?

    Zulu I may be doing you a disservice but i can't help but detect a hint of scepticism in your posts. Maybe I am being unfair to you.

    I for one believe every word posted by random strangers on boards, particularly when they are very impressive posters with a portfolio of properties and a very impressive generousity of spirit.


  • #178
    ForestFire
    Registered Users, Registered Users 2 Posts: 2,498 ✭✭✭ForestFire


    Any advice on the below situation would be appreciated...


    - Accidental landlord - renting out the one and only house that they own, as they need to move to another location for work. (Rent received is 150% of monthly mortgage)
    - Renting accommodation in there new location close to work - (rent paid is more than rent received - €200PM)
    - Has not lost Job to date, but the tenants in their home have lost their job and stop paying rent as they have no funds...

    So they will lose their rental income fully
    Can pause their own mortgage, but this still leaves a large short fall for their own rent.

    If tenants (Both in this case, and in general) have savings built up over time for a rainy period, are they expected to use this to cover their rent, while dose who did not save would get if for free?


  • #179
    Antares35
    Registered Users Posts: 3,845 ✭✭✭Antares35


    There is a freeze on rent increases for people affected by the virus, and a ban on evictions for 3 months, but no mention of rents being suspended for 3 months the way mortgage payments can be :confused:


  • #180
    Samuel T. Cogley
    Registered Users, Registered Users 2 Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    Antares35 wrote: »
    There is a freeze on rent increases for people affected by the virus, and a ban on evictions for 3 months, but no mention of rents being suspended for 3 months the way mortgage payments can be :confused:


    Because rents can't be suspended using the same mechanism, which if kinda the point of the thread.


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  • #181
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    dharma200 wrote: »
    No,
    Because air b n b will be pretty much finished, air travel will be extortionate, people all over europe too skint to spend a week in dublin or galway, no more big cultural events, mass unemployment and no more false rental economy.

    Have a big long think.

    I would have thought Airbnb will be more popular if rents fall. I have an Airbnb house, I’m genuinely thanking my lucky stars it isn’t rented.

    Air travel will not be extortionate, if anything it will be great value when it returns as the airlines try to get up and running again.

    Listening to Newstalk, rent freeze apply only to those who can show their job has been effected, I would presume you have to show you are in receipt on new pandemic payment, it does not apply to everyone.

    Out of interest, where are you seeing rents on daft plummeting, I just googled that and got no results.


  • #182
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Spencer Winterbotham wrote: »
    . I cancelled all Mortgage Direct Debits.. So I will not be paying any mortgages for the foreseeable... with or without the bank's consent.
    t.

    If you own a portfolio of properties, that is an astonishing way to act. Defaulting on loan payments without discussing with your lender will effect your Credit Rating. Hopefully this will be a relatively short crisis, but adopting such an approach is hugely risky for your long term viability as a property owner. This rent freeze only applies to those who can show that they have lost their jobs, a knee jerk blanket rent freeze on your own part is great for your tenants, but bad in the short and long term for you.


  • #183
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    Dav010 wrote: »
    I would have thought Airbnb will be more popular if rents fall. I have an Airbnb house, I’m genuinely thanking my lucky stars it isn’t rented.

    Air travel will not be extortionate, if anything it will be great value when it returns as the airlines try to get up and running again.

    Listening to Newstalk, rent freeze apply only to those who can show their job has been effected, I would presume you have to show you are in receipt on new pandemic payment, it does not apply to everyone.

    Out of interest, where are you seeing rents on daft plummeting, I just googled that and got no results.

    There are rents for air b n b apartment dropping by 550 per month. Air b n b will not even be a thing. It is over.

    There wont be any airlines for competition, cheap fares are over.

    How on earth do you think air b n b will be more popular if rents fall? The reason rents will fall is because there will be no one NO ONE in air b n bs.
    The migrant labour, wont be needed because there will be no employment.
    There is a thread - apartments in dublin are already dropping by over 500 - these apartments that are air b n bs. No one is coming to stay in the air b n b for a long long time. They will all be on the rental market. The apartment blocking that air b n b has caused is over.

    Cheap flights heading up the nile.

    Lordy.


  • #184
    kirving
    Registered Users, Registered Users 2 Posts: 6,059 ✭✭✭kirving


    shreko wrote: »
    Nope unfortunately not for everyone, depends on your interest rate and where you are in the term of your mortgage. The rent I receive every month is €1200. My mortgage is €1140.
    The interest I pay out of the €1140 is approximately €800. So during my "Payment Holiday" for each month I lodge nothing to my mortgage account the €800 interest gets added to the over all debt amount. So If owe €200,000 today in three months time when my "Payment holiday" is over I will now owe €202,400

    So I am basically taking on the majority of my tenants housing costs for three months.

    This doesnt even consider the monthly direct debit I also have for House Insurance, property tax and Boiler servicing on the property which amounts to another €100 or so a month.

    Anything I've read so far is scant on detail surrounding interest being paused too, it may very well be. I really hope it wold be the. If not, it would be an unfair burden on many people.

    Has this been confirmed yet?

    If the market rent fell through the floor in the morning, and your mortgage stayed the same, would you still consider yourself to be taking on your tenants housing cost? I don't think it's correct to conflate market rent with mortgage rates.

    While it's great to have the mortgage covered, rent not meeting that amount, for whatever reason, is a clear risk landlords take on. The reward being further down the line, when the mortgage is paid and you have an asset which also earns money.


  • #185
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    Dav010 wrote: »
    I would have thought Airbnb will be more popular if rents fall. I have an Airbnb house, I’m genuinely thanking my lucky stars it isn’t rented.

    Air travel will not be extortionate, if anything it will be great value when it returns as the airlines try to get up and running again.

    Listening to Newstalk, rent freeze apply only to those who can show their job has been effected, I would presume you have to show you are in receipt on new pandemic payment, it does not apply to everyone.

    Out of interest, where are you seeing rents on daft plummeting, I just googled that and got no results.

    rents dropping like flies....https://www.daft.ie/dublin/apartments-for-rent/grand-canal-dock/32-millennium-tower-charlotte-quay-grand-canal-dock-dublin-2014730/

    https://www.boards.ie/vbulletin/showthread.php?t=2058057803


  • #186
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    dharma200 wrote: »
    There are rents for air b n b apartment dropping by 550 per month. Air b n b will not even be a thing. It is over.

    There wont be any airlines for competition, cheap fares are over.

    How on earth do you think air b n b will be more popular if rents fall? The reason rents will fall is because there will be no one NO ONE in air b n bs.
    The migrant labour, wont be needed because there will be no employment.
    There is a thread - apartments in dublin are already dropping by over 500 - these apartments that are air b n bs. No one is coming to stay in the air b n b for a long long time. They will all be on the rental market. The apartment blocking that air b n b has caused is over.

    Cheap flights heading up the nile.

    Lordy.

    Do you know how Airbnb works? A lot of hosts set the pricing to automatic. It’s a pricing algorithm that alters the price charged based on demand. Of course Airbnb prices have dropped online, there is no demand. But when this is over, demand will increase and the price goes up. It is wrong to assume owners are suddenly online giving their properties away, the site price setter automatically does that. Just to give you an example, I rent my house out for €300 per night, the price has dropped by more than €550 per month if all nights were rented, but it would still be more than I would get if I rented it to a tenant.

    Catch yourself on, there will be airlines and there will be competition.


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  • #187
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    dharma200 wrote: »
    rents dropping like flies....https://www.daft.ie/dublin/apartments-for-rent/grand-canal-dock/32-millennium-tower-charlotte-quay-grand-canal-dock-dublin-2014730/

    https://www.boards.ie/vbulletin/showthread.php?t=2058057803

    What are you pointing to here? A one bed for €1100 that seems by the low number of views to have been put up on daft today,.


  • #188
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    Dav010 wrote: »
    Do you know how Airbnb works? A lot of hosts set the pricing to automatic. It’s a pricing algorithm that alters the price charged based on demand. Of course Airbnb prices have dropped online, there is no demand. But when this is over, demand will increase and the price goes up. It is wrong to assume owners are suddenly online giving their properties away, the site price setter automatically does that. Just to give you an example, I rent my house out for €300 per night, the price has dropped by more than €550 per month if all nights were rented, but it would still be more than I would get if I rented it to a tenant.

    Catch yourself on, there will be airlines and there will be competition.

    I am talking about the air b n b apartments now going onto the rental market. Dozens already.
    Daft now has a number or air b n b going onto rental, you can tell because they were on air b n b a whiel back. Folded towels on the bed, sur eyou know how it works. myhome.ie the same.
    anyway, ofcourse i know how air b n b works and I know how it isnt going to work. But best of luck with it. We are all gonna need it. Aer lingus now putting all on half pay, soon to be no pay, soon to be gone. I am not talking about air b n b prices because there wotn b any, the air b n are now going onto the normal rental market, and will swamp it. anyway I can see you ar enot getting it.


  • #189
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    Dav010 wrote: »
    What are you pointing to here? A one bed for €1100 that seems by the low number of views to have been put up on daft today,.

    That is a former air b n b, dropping its rent by 550, on the rental market for well less than it ever would have been, because NO ONE IS GOING TO BE IN AIR B N Bs......... rents are dropping already.. for past two weeks and now dropping pretty drastically. House prices to buy, dropping by ALOT, in a couple of days.

    They are quick off the mark, plenty to follow.


  • #190
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    dharma200 wrote: »
    That is a former air b n b, dropping its rent by 550, on the rental market for well less than it ever would have been, because NO ONE IS GOING TO BE IN AIR B N Bs......... rents are dropping already.. for past two weeks and now dropping pretty drastically. House prices to buy, dropping by ALOT, in a couple of days.

    They are quick off the mark, plenty to follow.

    How do you know that it was an Airbnb? The towels?

    Incidentally, Ryanair, EasyJet, Norwegian Air and Lufthansa shares all went up today, Lufthansa by over 8%.

    You might be right about owners of Airbnb going into rental market, but as it has been illegal for some time for many to operate, maybe this is the push needed to change over. I won’t be following.


  • #191
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    Dav010 wrote: »
    How do you know that it was an Airbnb? The towels?

    Incidentally, Ryanair, EasyJet, Norwegian Air and Lufthansa shares all went up today, Lufthansa by over 8%.

    You might be right about owners of Airbnb going into rental market, but as it has been illegal for some time for many to operate, maybe this is the push needed to change over. I won’t be following.

    Carsten Spohr, Chairman of the Executive Board, said, "The spread of the coronavirus has placed the entire global economy and our company as well in an unprecedented state of emergency. At present, no one can foresee the consequences....The longer this crisis lasts, the more likely it is that the future of aviation cannot be guaranteed without state aid."

    To meet the Covid-19 crisis, the company plans comprehensive savings measures including capacity reductions, short-time working mechanism in home markets and suspension of dividend. Lufthansa also announced drastic cutbacks in its flight operations due to entry restrictions in many countries and a collapse in demand. Around 700 of the Lufthansa Group's 763 aircraft will be temporarily parked.

    The Lufthansa Executive Board has further decided to waive 20 percent of its basic remuneration in 2020." https://www.nasdaq.com/articles/lufthansa-fy19-profit-down-says-cant-predict-fy20-earnings-stock-up-2020-03-19They are parking 700 out of 763 aircraft.
    A tiny few airlines will be saved by their respective states. and you can be sure they will be passing it on to the next round of holiday makers, in 2021.
    Cheap flights and air b n b are finished. Thats my opinion and I sure hope I am wrong. ( well maybe not so wrong with air b n b. was nice while it lasted, but a scourge on ireland)


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  • #192
    Del Griffith
    Registered Users, Registered Users 2 Posts: 1,216 ✭✭✭Del Griffith


    dharma200 wrote: »
    Carsten Spohr, Chairman of the Executive Board, said, "The spread of the coronavirus has placed the entire global economy and our company as well in an unprecedented state of emergency. At present, no one can foresee the consequences....."

    She should have called you!


  • #193
    PommieBast
    Registered Users, Registered Users 2 Posts: 2,807 ✭✭✭PommieBast


    Isn't AirBnB supposed to be illegal? That might be grounds for the landlords concerned to be refused assistance...

    (well, against planning permission, but DCC isn't granting anyone that..)


  • #194
    GreeBo
    Registered Users, Registered Users 2 Posts: 27,253 ✭✭✭✭GreeBo


    shivermetimber wrote: »
    One idea would be to consider rewinding the clock so to speak - a mandatory reduction of all rents back to 2014(?) rates across the board. Any new tenancies commenced since then will also be reduced to the 'going market rate' for the size and area at that time according to the index. This would apply to both private and commercial landlords.

    It would remove the max 4% rpz year on year increases, which I imagine nearly every landlord has done to the max of 4% every time and remove the more then 4% increases done outside rpz's. It would reduce rents across the entire country in one swoop, which lets face it has gone beyond ridiculous at this stage and supply isn't going to fix this crisis any time soon.

    Of course it won't suit some e.g. very recent landlords who might have stretched themselves mortgage wise if their rental income were suddenly cut but I imagine it will be a more acceptable measure to a lot of longer term landlords given the situation everyone now finds themselves in.

    Just a quick though and the above could of course be supplemented with various other measures.

    Nice idea.
    I'm sure you are also contacting your employer to tell them to cut your wages back to 2014 levels also?


  • #195
    GreeBo
    Registered Users, Registered Users 2 Posts: 27,253 ✭✭✭✭GreeBo


    dharma200 wrote: »
    There are rents for air b n b apartment dropping by 550 per month. Air b n b will not even be a thing. It is over.

    There wont be any airlines for competition, cheap fares are over.

    I dont see this at all to be honest.
    Sure, while everywhere is on lockdown, but as soon as thats over everyone will be back looking to travel and their will be demand for cheap flights, why wouldnt there be?


  • #196
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    GreeBo wrote: »
    I dont see this at all to be honest.
    Sure, while everywhere is on lockdown, but as soon as thats over everyone will be back looking to travel and their will be demand for cheap flights, why wouldnt there be?

    There will be a demand alright. There wont be airlines. What ones survive will be so knee deep in state debt you can be sure they wont be charging you 30 euro to bask in the costa.


  • #197
    dharma200
    Registered Users, Registered Users 2 Posts: 998 ✭✭✭dharma200


    PommieBast wrote: »
    Isn't AirBnB supposed to be illegal? That might be grounds for the landlords concerned to be refused assistance...

    (well, against planning permission, but DCC isn't granting anyone that..)

    Yes. And soon hopefully completely out of business. The airbn b map right now in dublin is such a scandal, and the hundreds of properties added to the rental market in the past few days. It is disgusting to see.
    One multinational and w hole lots of people happy to profit massively are now down the swanney and no harm. One of the few postives.


  • #198
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    dharma200 wrote: »
    Yes. And soon hopefully completely out of business. The airbn b map right now in dublin is such a scandal, and the hundreds of properties added to the rental market in the past few days. It is disgusting to see.
    One multinational and w hole lots of people happy to profit massively are now down the swanney and no harm. One of the few postives.

    Is that you Paul?


  • #199
    c0rk3r
    Registered Users, Registered Users 2 Posts: 1,256 ✭✭✭c0rk3r


    Guess i don't have to pay the increased rate of rent which commences Mid-April ? A minor win.


  • #200
    piplip87
    Registered Users, Registered Users 2 Posts: 2,148 ✭✭✭piplip87


    I get the feeling that this would work out ok if it wasn't for the piss takers.

    I have seen and heard people who are now work from home demanding a rent freeze or a three month break even though Thier financial situation will be better off during this. The same thing happened during the recession people just have up paying mortgages because some people got into difficulty.

    By announcing no evictions during this crisis they have just given the opportunity to those who will take the piss to do just that. The genuine ones who lost jobs and are now in trouble will be the ones to scrape something together for Thier landlords.


  • #201
    PommieBast
    Registered Users, Registered Users 2 Posts: 2,807 ✭✭✭PommieBast


    dharma200 wrote: »
    Yes. And soon hopefully completely out of business. The airbn b map right now in dublin is such a scandal, and the hundreds of properties added to the rental market in the past few days.
    I do wonder about the people who are supposed to be enforcing this.


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