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29-11-2019, 18:09   #46
Dav010
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Originally Posted by The_Fitz View Post
Could anything be taken from the Berlin rent freeze and capping rent at a certain amount per square meter?*



*I have no idea how this would work in practice.
This came up on another thread, rent freeze does not apply to property built in the last five years. I was in Berlin recently and I was surprised at the number of derelict buildings in University area on way to airport, taxi told me construction had slowed due to new legislation introducing rent freeze.
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29-11-2019, 18:17   #47
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Absolutely, we are at full employment. It's time for the IDA to stop getting more companies to move here as we cannot handle the number of people at the current time. Public transport and housing services need to catch up on the explosion of the numbers working in Ireland the last 6 years.
This is absolute nonsensical drival.

Last edited by handlemaster; 30-11-2019 at 08:16.
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29-11-2019, 18:30   #48
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It should be noted DAFT supplies data on asking rents, the actual RTB figures for current rents are lower. The figures bandied about in the media are DAFT's figures which are skewed by new entrants to the market.
Another aspect that is never captured is the number of tenants involved re what is advertised for renting. The RTB have all the information to present this figure. All registered accommodation have to give the number of tenants and the weekly/monthly rent. I OFTEN WONDER why it does not produce this figure.
This figure will tell us what the rent per month per occupant is. The Daft figs only give the asking price for a house/flat/ apt to rent but we have no idea the number of occupants that each can accommodate.

Another possibility that is not captured is the following point.
During the Celtic Tiger era we had so much money paying for accommodation was not a problem and the typical tenant could afford to rent ,for example, a two to three bedroom house and him/herself or / and wife / partner would be the sole occupants even though the accommodation could comfortably house another two to three people - depending.
But during the austerity period - as far as expensive accommodation/ reduction in buying power is concerned- I would have expected that some tenants would have been very happy to shack up/ share their accommodation to keep the rent cost per head down
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30-11-2019, 12:46   #49
DubCount
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IMHO rent controls/rent freezes just do not work.

The first thing to suffer is quality - why should a LL invest in painting, decorating, new furniture, fixing things or just about anything else, when he/she can achieve the same rent with or without the work being done?

In other markets, it also tends to make cash top ups popular, as competing prospective tenants seek to secure a property by offering such top ups.

It then makes any "new" rental properties more expensive, because artificially keeping the price of other properties low means a natural undersupply which is inflationary on whatever new stock becomes available.

Being a LL is an investment choice. Choice is the key word - Irish property is not the only investment in the world. You need to create a situation where investors will choose Irish property as an investment, which is not happening right now. Artificially trying to keep prices down by rent control will simply not work.
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03-12-2019, 23:31   #50
Assetbacked
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This is absolute nonsensical drival.
We need to control immigration to Dublin. More people are arriving each week to work than there are beds coming available. We are at full employment and have made no progress on housebuilding for many years so it would not be a bad thing to either cut funding to the Ida or else to get them to stop promoting Dublin.

Worst city in the world for housing. The world! That is astonishing. It's not even like the quality of places to live is exceptionally high. Desperate measures are needed.
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04-12-2019, 07:37   #51
handlemaster
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We need to control immigration to Dublin. More people are arriving each week to work than there are beds coming available. We are at full employment and have made no progress on housebuilding

for many years so it would not be a bad thing to either cut funding to the Ida or else to get them to stop promoting Dublin.

Worst city in the world for housing. The world! That is astonishing. It's not even like the quality of places to live is exceptionally high. Desperate measures are needed.
This is such a poor opinion. I really dont know what to reply
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04-12-2019, 09:16   #52
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As a Landlord I would have no problem with fair rent freezes IF tax figures can be agreed or standardised beforehand for as long as the freeze applies. The problem with the rent freeze is that you don't know what your tax bill will be and its typically 6-9k per house assuming you have no major expenses (and even if you do, sure they have to be paid for).

Some form of agreement could be done in my opinion.
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04-12-2019, 09:42   #53
 
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I think AirB&B destabilised the market big time.
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04-12-2019, 10:04   #54
Dav010
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I think AirB&B destabilised the market big time.
Airbnb is a symptom not the disease. Property owners who previously wanted tenants no longer have confidence in the rental market. It is less risk and more profitable to short let.
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04-12-2019, 10:09   #55
 
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Airbnb is a symptom not the disease. Property owners who previously wanted tenants no longer have confidence in the rental market. It is less risk and more profitable to short let.
But why would landlords prefer to use AirB&B and pay 52% of tax and constantly deal with brand new short term guests rather than have one stable tenant who pays the bills and rent? If they are scared of the Part 4 tenants who after 6 months get more rights, then offer your place for 5 months only or secure yourself with 1 year lease.
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04-12-2019, 10:16   #56
beauf
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But why would landlords prefer to use AirB&B and pay 52% of tax and constantly deal with brand new short term guests rather than have one stable tenant who pays the bills and rent? If they are scared of the Part 4 tenants who after 6 months get more rights, then offer your place for 5 months only or secure yourself with 1 year lease.
Less likely to overstay I would assume and higher margins.
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04-12-2019, 10:16   #57
beauf
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I think AirB&B destabilised the market big time.
These problems existed before AirBnb. Problems started long before that.
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04-12-2019, 11:02   #58
$hifty
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But why would landlords prefer to use AirB&B and pay 52% of tax and constantly deal with brand new short term guests rather than have one stable tenant who pays the bills and rent? If they are scared of the Part 4 tenants who after 6 months get more rights, then offer your place for 5 months only or secure yourself with 1 year lease.
1. I don't know where you're getting the tax figure from, but anybody I know who rented via airBnB paid zero tax
2. Any Air BnB I've rented involved collecting the keys from one of those combination lock things connected to the railings outside or nearby, with very little interaction with the owner.
3. Imagine the fcuking uproar on here if even a quarter of landlords just decided to only offer 5 month tenancies and a significant number of people had to move twice a year.
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04-12-2019, 12:36   #59
Ray Palmer
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1. I don't know where you're getting the tax figure from, but anybody I know who rented via airBnB paid zero tax
2. Any Air BnB I've rented involved collecting the keys from one of those combination lock things connected to the railings outside or nearby, with very little interaction with the owner.
3. Imagine the fcuking uproar on here if even a quarter of landlords just decided to only offer 5 month tenancies and a significant number of people had to move twice a year.
If the paid no tax on Airbnb they are committing tax fraud. Very simple you declare and pay taxes on all income.

The tax rate is no different to tax on rental income but margins are higher.

Revenue have all the records from Airbnb and are going after landlords. Given planning is required to use a property for Airbnb they are also likely breaking planning laws as so few even applied. There could be hefty fines for a lot of people coming. They were warned so no excuse
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04-12-2019, 13:16   #60
The Student
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We need to control immigration to Dublin. More people are arriving each week to work than there are beds coming available. We are at full employment and have made no progress on housebuilding for many years so it would not be a bad thing to either cut funding to the Ida or else to get them to stop promoting Dublin.

Worst city in the world for housing. The world! That is astonishing. It's not even like the quality of places to live is exceptionally high. Desperate measures are needed.
If we stop people coming to Dublin (which is where most would be located due to the location of the employment and the desire for access to facilities) where do they go.

You do realise we are a small open economy who needs FDI. These would be high earning individuals paying income tax and spending in the economy. This self same tax that would be used to fund house building (be it social or affordable etc).

Who do you expect to pay for the social and affordable housing ? is it the working middle income who are above assistance for state support but below what they need to get a mortgage?

I am curious as to who you see funding this?
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