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“94% of 900 landlords surveyed said the main reason they want to leave the rental market is because rents at the bottom of the market are not strong enough and they cannot increase their rents to the market rent level.”
The solution can not be increasing rent, Christ this is fucked
Current regime of kafkaesque regulations and taxman taking everything screws the tenant and screws the one time landlord.
The tenant is paying huge rent (after tax)
The mom and pop landlord don’t get anything worthwhile after they comply.
The only landlord structure the can survive in this environment is the international investment companies that don’t pay any tax and have minions to deal with the kafkaesque regulations.
This is the reality of what is going on.
You don’t want to hear it.
Watch the downvotes !
The reality of the situation is that for most landlords, especially the small landlords which are the majority of those leaving the market, the rental market doesn’t turn a profit for them. It makes no sense for them to continue to be a landlord.
They likely bought a property in the boom, and have rented it out for whatever would cover the mortgage + costs + 52% tax. They’ve likely had at least one case of someone taking the piss paying no rent. They’ve made no money on the asset, or have most likely lost money.
Yes they have the asset being serviced and they should be happy with that, however for the amount of hassle that it’s causing them, they’d rather be rid of it entirely.
Now you have a situation where rent caps means they can’t increase the rent, so they can’t make it a viable investment. They know further down the road it’ll cost them in unpaid rent or maintenance costs, so any return they potentially could make is increasingly less and less likely.
Then you have political parties rallying against them as the next coming of Satan, pushing to introduce even more stringent restrictions on them and more protections for tenants.
The same tenants that probably ripped them off for 6-12months of rent and required thousands of investment after they left to bring the property back to basics? These people are getting more protection? How could that be fair?
Couple all of this with the fact that now, after more than a decade, the property is finally out of negative equity and they finally can just sell and move on, and not have to deal with all of the bullshit that comes with being a small, unprotected, demonized landlord in Ireland.
Therefore, 90% of them are selling. And it’s a shame because there are good tenants out there, and there is easy ways to reduce rent for good tenants and good landlords. But FFG don’t give a fuck, and SF certainly won’t do much better.
Oh, I’m part of that, and been completely unable to find new accommodation.
Most places never even respond to applications. Managed to get a single viewing in 6 months.
I think we need to move away from property being the only investment option in Ireland and find other ways for people to invest money they have, in things that aren’t an essential service.
(And also build more social housing that is never sold off for cheap, but that will never happen).
It is crazy the amount of people arguing landlords should get tax breaks because the rent payments don’t cover the tax and mortgage repayments.
Your mortgage is the cost of your investment, anyone who buys a rental property with cash is making profits. It’s unusual that rental properties are viewed so differently for small investors.
Consequence of the uncertainty from both Government parties and the likelihood of SF getting in next election.
Any non full time landlord is basically going to be screwed so are selling up. Can’t blame them. Eviction bans will just make it worse whenever they are lifted.
If you go into Dunnes and steal 1500 worth of clothes you’d go to prison – not pay rent for a month – absolutely nothing. One sided system which is only benefiting the worst on both ends.
Our government serving us well hai
Landlords are leaches.
They offer nothing to society but benefit off everyone else that struggles to get by.
9 comments
>
“94% of 900 landlords surveyed said the main reason they want to leave the rental market is because rents at the bottom of the market are not strong enough and they cannot increase their rents to the market rent level.”
The solution can not be increasing rent, Christ this is fucked
Current regime of kafkaesque regulations and taxman taking everything screws the tenant and screws the one time landlord.
The tenant is paying huge rent (after tax)
The mom and pop landlord don’t get anything worthwhile after they comply.
The only landlord structure the can survive in this environment is the international investment companies that don’t pay any tax and have minions to deal with the kafkaesque regulations.
This is the reality of what is going on.
You don’t want to hear it.
Watch the downvotes !
The reality of the situation is that for most landlords, especially the small landlords which are the majority of those leaving the market, the rental market doesn’t turn a profit for them. It makes no sense for them to continue to be a landlord.
They likely bought a property in the boom, and have rented it out for whatever would cover the mortgage + costs + 52% tax. They’ve likely had at least one case of someone taking the piss paying no rent. They’ve made no money on the asset, or have most likely lost money.
Yes they have the asset being serviced and they should be happy with that, however for the amount of hassle that it’s causing them, they’d rather be rid of it entirely.
Now you have a situation where rent caps means they can’t increase the rent, so they can’t make it a viable investment. They know further down the road it’ll cost them in unpaid rent or maintenance costs, so any return they potentially could make is increasingly less and less likely.
Then you have political parties rallying against them as the next coming of Satan, pushing to introduce even more stringent restrictions on them and more protections for tenants.
The same tenants that probably ripped them off for 6-12months of rent and required thousands of investment after they left to bring the property back to basics? These people are getting more protection? How could that be fair?
Couple all of this with the fact that now, after more than a decade, the property is finally out of negative equity and they finally can just sell and move on, and not have to deal with all of the bullshit that comes with being a small, unprotected, demonized landlord in Ireland.
Therefore, 90% of them are selling. And it’s a shame because there are good tenants out there, and there is easy ways to reduce rent for good tenants and good landlords. But FFG don’t give a fuck, and SF certainly won’t do much better.
Oh, I’m part of that, and been completely unable to find new accommodation.
Most places never even respond to applications. Managed to get a single viewing in 6 months.
I think we need to move away from property being the only investment option in Ireland and find other ways for people to invest money they have, in things that aren’t an essential service.
(And also build more social housing that is never sold off for cheap, but that will never happen).
It is crazy the amount of people arguing landlords should get tax breaks because the rent payments don’t cover the tax and mortgage repayments.
Your mortgage is the cost of your investment, anyone who buys a rental property with cash is making profits. It’s unusual that rental properties are viewed so differently for small investors.
Consequence of the uncertainty from both Government parties and the likelihood of SF getting in next election.
Any non full time landlord is basically going to be screwed so are selling up. Can’t blame them. Eviction bans will just make it worse whenever they are lifted.
If you go into Dunnes and steal 1500 worth of clothes you’d go to prison – not pay rent for a month – absolutely nothing. One sided system which is only benefiting the worst on both ends.
Our government serving us well hai
Landlords are leaches.
They offer nothing to society but benefit off everyone else that struggles to get by.