Varadkar says measures aimed at addressing rental situation will be in Budget 2023. This could include – he says, noting “it may not be popular to say so” – measures aimed at keeping landlords in the market.
Varadkar says measures aimed at addressing rental situation will be in Budget 2023.
This could include – he says, noting “it may not be popular to say so” – measures aimed at keeping landlords in the market.
— Richard Chambers (@newschambers) August 10, 2022
33 comments
Ah were back too wanting to keep the landlords now
.. good man Leo , few votes for ya there
*“it may not be popular to say so” – measures aimed at keeping landlords in the market.*
Leo is gaslighting here and it will have the desired effect of pitting one group against another and taking the focus off his own party’s record in government over the last decade.
Nobody is against landlords being in the market you gowl. It’s Leo’s party that have pushed landlords out of the market by taxing their rental income at 50% while taxing investment funds effectively 0% changing regulations, tinkering around the edges while not supporting landlords *or* the tenants. It’s successive governments that have pushed landlords out of the market, nothing else. You melt!
If the government or local authorities wanted they could buy these properties at market value and keep the tenants.
So they are floating reducing tax on landlords! Lol!
Lets do anything but help actual renters or you know build actual fucking houses!
Why isnt the whole country classed as a rent pressure zone?
Varadkars successive governments have us in the situation we now find ourselves in.
We have Landlords leaving the market at a rate not seen before due to how hard it is to get bad tenants out, could be waiting two years with no rent getting paid and when they get the place back have to spend ten grand on getting it right for the next Tennant’s.
Then you have bad landlords who always seem to dodge the bad Tennant’s. Taking honest decent people for ride.
The only way to sort out the rental mess in this country is to build social houses for those on low incomes, taking people off HAP, freeing up rentals. Let the build to rent developments take place but also have plenty build to buys in the pipeline too
Maybe they should…. Build more fucking houses?
Just Build houses and stop investment / pension funds buying entire estates. You greasy fucker
All Leo has done is help landlords. How is doing it even more supposed to make things better?
From the [tweet](https://twitter.com/newschambers/status/1557336746542637056?t=-yvfA7b3ivNBgpZvEQ7z4g&s=19) that started that thread
>Tánaiste Leo Varadkar says that while “it is very hard to find somewhere to rent” – but that it would be a “mistake” to take Daft’s figures as official or representative of the market.
[Here’s](https://www.thejournal.ie/rent-increases-leo-varadkar-5761903-May2022/) an article from three months ago where he uses Dafts figures as representative of the market.
>Varadkar said there is a “dual crisis” in the rental sector right now.
>“It’s one affordability and also one of availability. And sometimes when you try to improve one of those things, you can actually make the other one worse. And that’s why we need to be very careful about the policy and policy interventions that we make as a government,” he said.
>Referencing the Daft.ie report, he said tenants that stayed in their properties, on average, faced a 10% increase since 2017, but he acknowledged that it was a very different picture for new tenancies.
Edit: [Here](https://twitter.com/LeoVaradkar/status/1224763932780396544?t=HVXKFvGgprGobiFbpHZFlA&s=19) he is again using Daft figures when it suits him.
Will he fuck do something concrete about it.
“One persons rent is another person’s income” sums up that man’s priorities down to a tee. He straight up doesn’t give a fuck about anyone stuck renting so I expect nothing but the most milquetoast of measures to try and help the housing disaster.
Why do we need to keep them in the market? If it becomes unviable as an investment then they’ll sell it and we want that
58K refugees in 6 months , plus thousands more on Working Visas . Build more houses or limit the numbers coming in. Those are the options
Fuck, I was hoping to buy a house around early 23. Now I’ll have more competition against people who have more money than me.
Are we getting to the stage that we need to do as the gulf oil states and just import thousands of construction workers, put them up in prefab cities, and have them build what we need? Obviously with better wages and conditions and, you know, treating them like human beings. I’m struggling to think of a way we could magic houses into being at speed, but also coincidentally reading an article about everything lashed up in Qatar for the three weeks of a World Cup.
I find it very hard to figure out how they’ll ‘keep’ people in a market they don’t want to be in. But we will see.
Big promises for budget 2023 with this alone.
No rush lads. Take yere time sure.
Tax changes are not going to fix this, small landlords are desperate to sell as they fear what new rules will be introduced. FG and FF should not have pandered to the populist anti-landlord bullshit that Sinn Fein were pushing, because (as predicted) supply is collapsing and there is no way to fix this.
The other areas the government panicked over were BTR, so now we have no rental supply at all, and the pension age reductions. I voted for this government to implement their policies, not Sinn Feins economics-for-dummies.
The fact that we still have to have that cunt as taoiseach yet is a horrible thought.
The first bit of sense to come out of this government on the rental sector in years.
We have 700 rental properties available in the state, at a 52% tax rate this is not surprising. Finally a move in the right direction.
Now to rebuild the entire planning system.. if we can silence the NIMBY, we might have a chance of getting out of this mess in five years time.
Don’t worry Leo, you won’t be in office for too long after this
Great. Its not landlords vs tenants. If landlords continue to pull out then we just have more people homeless.
We need the landlords’ properties now more than ever. Vilifying them serves no purpose other than to drive them out of the market and make the problem worse.
Anything that contributes to resolving the issue is a positive at this stage.
A tax cut for landlords, exactly what we need 🤦♂️
Why the fuck is everyone giving them the benefit of the doubt that they are actually competent to do anything. They are literally a bunch of incompetent people with only skill being failing upwards and are now given the power of leading the country and solving problems. Have any of you ever hear of “If you want to make a problem worse, give it to the government to solve it”. And you still expect competency from the people that did nothing in their life. Laughable
Make it illegal fir companies to own residential homes and watch how fast everything will go back in order. Idk why people keep believing in this party
They want to keep landlords in the market. Good for them. Do they want to address any of the policies that got us into this shitshow? The messy and limited planning permission bodies and laws? The ability for small groups of people to stall out new developments because they care more about the value of their properties? Hedge funds and vulture funds swathes of new developments and inflating the price out of pure greed?
Any of that? Landlords wouldn’t be leaving the market if the market wasn’t riddled with loopholes for greedy fuckers to profit off of the extreme demand for homes.
Doesn’t he rent out his old home for quite a sum since he moved in with his husband.
Of course it’s in his interests to help the landlords (himself included)
In 2011 our population was 4,588,252 for this year we are at 5,123,536
I’m not sure in the teeth of a recession anyone though we’d have another 600k people in the country in 10 years, in fact a lot of the commentary was of a lost generation as thousands were immigrating.
The lack of finance in the country, CB lending rules, an unexpected jump in population, COVID shut down of sites and Brexit issues have lead to a perfect storm.
When can we get rid of this government?
Well. At least he’s telling us it’ll be not-e-fucking-nough straight out the gate rather than letting on he’s giving it stacks and it’s just always going to be this way.
We have the possibility to build a house next to ours. The idea being to sell the one we are in and to move into the new one.
But … I was running the numbers on whether it would be worth being a landlord by renting out the house instead.
It would cost around €400,000 to build, no possibility of building for cheaper than that. Could probably get €2,500 rent per month (an outrageous amount of monthly rent, I agree). Lets assume after annual renovations and vacant times, you end up with, on average, 10 months rent a year, so €25,000.
Let’s assume there is a mortgage on the place, so the interest (not the mortgage itself) would be tax deductible. But that’s also interest you are paying that you otherwise wouldn’t be paying, its not reducing the balance of the loan itself. So its a bit of a push.
So, of the €25,000,
Interest would be €12,000
Tax would be 50% of the remainder = €6,5000
Amount left over would be €6,500.
It just makes no sense unless you make some mad assumption that property prices will continue to rise.
​
What that means is that if we do build that house we will sell it, rather than become a landlord.
Don’t mind, I was just running the numbers to see if it makes sense, because everyone talks about landlords as ridic rich.
But, I’d say those maths are why landlords are selling up and why there is nowhere to rent.
If we want more places to rent, then those numbers need to change. Tax changes are probably the easiest, so that the landlord keeps more. As there’s surely no-one taking a €400,000 loan risk for a €6,500 annual return. 1.65% annual return for that risk, wtf. And what if the tenants don’t pay the rent and you can’t get rid of the tenants. You’re then stuck with nothing.
RemindMe! 1 year “How’s the rent in NL?”
Whatever Leo is chatting about will probably be implemented quicker than the Right to work from home and the Vacant property tax. They work fast when it benefits them.
We need more supply. But we also need rental accomodation, and it’s much better for the country if we have Irish private landlords than foreign investment funds owning that rental stock
Is my logic wrong here…
Landlords exiting market means they essentially sell the house rather than rent.
This increases the supply of houses for sale.
People who were paying those high rents can afford the cheaper houses and buy.
With people buying instead of paying high rent, rent goes down… people who can only afford to rent now have more affordable rent.
I know supply is the overall problem, but if landlords leave the market, it’s not like they’re picking their ball up and going home, right?
We’re far from some of the nordic countries where profiting from rent is so difficult that they have a genuine landlord struggle.
With rents so high, I really struggle to grasp how landlords are the ones in need. Their revenue has climbed so much over the years, have overheads climbed in a similar manner? You can see retail saying oh rent and staff etc has climbed, we need to charge more… but… if you bought your asset a few years back, mortgage rates are low… what percentage are we talking for property tax and insurance and occasional upkeep? I really don’t understand it.
It’s not a rent crisis we’re facing, it’s a housing crisis. The only reason rent is so high is because people who would typically be buying can’t afford it so they’re competing with renters. Gah! 🤯