Either she has been getting a discount all this time, or she’s getting screwed now
It depends on which number is market rent.
Saying it for the millionth time: The entire country needs to be a RPZ.
I was speaking to someone today who manages 40 properties for letting in Dublin, with good chunk of them being his own family’s property portfolio.
He told me that every year, without fail, they will put the rent up by the the legal amount to make sure they aren’t going to screw themselves over in a few years.
He said that when they get a new property they will advertise it for €X per month but if there are loads of enquiries then they will add a few hundred to the original amount and advertise it again, until they get a more reasonable number of applicants.
He had an ad up this week that had over 500 email enquiries. That’s just one house in a certain area. Where the fuck are these people living now/going to end up living, and at what cost?
Paid 970 a month for 4 years. The best part of 50k. Why didn’t they buy? Why would anyone pay these kinds of rents outside of the main cities when a mortgage for the same property would be significantly less?
The article doesn’t mention but this feels like a RAS / HAP payment inflating the lower end of the market
Solution: Put everybody on HAP. Then put a cap on your HAP topup that’s means tested. Then tax the living hell out of landlord to get all the HAP money back.
It’s like free real estate
That’s some cartoon villain shit right there.
One friend is currently living in a 2 bed in Westport for 900 a month. Another for 950 per month. 1200 seems to be the more common rate for new lettings for a 2 bed. So they weren’t a million miles off the normal market rate before the increase. 1600 for a 2 bed in Westport is madness. You’d want to be getting a 3 or 4 bed for that
we need to hear both sides of the story, “Mayo landlord feels joy after massive rent increase”
8 comments
Either she has been getting a discount all this time, or she’s getting screwed now
It depends on which number is market rent.
Saying it for the millionth time: The entire country needs to be a RPZ.
I was speaking to someone today who manages 40 properties for letting in Dublin, with good chunk of them being his own family’s property portfolio.
He told me that every year, without fail, they will put the rent up by the the legal amount to make sure they aren’t going to screw themselves over in a few years.
He said that when they get a new property they will advertise it for €X per month but if there are loads of enquiries then they will add a few hundred to the original amount and advertise it again, until they get a more reasonable number of applicants.
He had an ad up this week that had over 500 email enquiries. That’s just one house in a certain area. Where the fuck are these people living now/going to end up living, and at what cost?
Paid 970 a month for 4 years. The best part of 50k. Why didn’t they buy? Why would anyone pay these kinds of rents outside of the main cities when a mortgage for the same property would be significantly less?
The article doesn’t mention but this feels like a RAS / HAP payment inflating the lower end of the market
Solution: Put everybody on HAP. Then put a cap on your HAP topup that’s means tested. Then tax the living hell out of landlord to get all the HAP money back.
It’s like free real estate
That’s some cartoon villain shit right there.
One friend is currently living in a 2 bed in Westport for 900 a month. Another for 950 per month. 1200 seems to be the more common rate for new lettings for a 2 bed. So they weren’t a million miles off the normal market rate before the increase. 1600 for a 2 bed in Westport is madness. You’d want to be getting a 3 or 4 bed for that
we need to hear both sides of the story, “Mayo landlord feels joy after massive rent increase”