Buy to Let in Ireland: The Case for a Contrarian Property Investment

[charlie007]

The direct subsidy payments from taxpayers to private landlords are also higher than ever (€550 million per annum through HAP,

Many landlords do not wish to take HAP supported tenants, but are effectively forced to do so by law..

Becoming a HAP landlord - Housing Assistance Payments

Becoming a HAP landlord You are not legally required to rent your property to someone getting HAP support. You choose the tenants for your property. However, you are not allowed to refuse to rent to someone just because they receive HAP. If you do, you will be breaking the equality laws. Further...

www.hap.ie

 

[JohnFlory]

I know I'm in the lions den here but landlords saying they do not want the €550 million in HAP payments they get from government every year but are forced to take them is somewhat ridiculous. Similar to landlords saying that they have reluctantly accepted €339 million in ARP money for "humanitarian reasons"

 

[charlie007]

landlords saying they do not want the €550 million in HAP payments they get from government every year but are forced to take them is somewhat ridiculous.

Below is taken directly from Threshold:

'Between 2017 and 2020, the WRC received 329 complaints from tenants on foot of a landlord’s refusal to accept HAP or rent supplement. Based on our research and the experience of our clients, we believe this number to only scratching the surface of the issue.'

 

[DannyBoyD]

landlords do not wish to take HAP supported tenants,

The law is quite correct on this in my view.

I can decline to rent a one bed apartment to a family of four; they would clearly be overcrowded.

I cannot decline because they are entitled to HAP.

 

[Protocol]

My friend, who is a landlord, likes HAP. It's guaranteed income.

 

[Greenbook]

See here

Threshold etc. are advising tenants not to tell the landlord they will need HAP, move in and pay the full rent themselves for a couple of months, then claim it. Why? You've no hope of a tenancy if you mention HAP when you apply.

 

[charlie007]

I cannot decline because they are entitled to HAP.

Everytime there's a mention of any pro landlord measure, we get to hear quite loudly about this €550m 'subsidy' to landlords.
But we don't hear that many, as in the Threshold piece I quote above, do not want it and in fact are force fed it.

 

[Greenbook]

iBy the way you are also excluding ARP landlords which do not have to register with the RTB. If you add the ARP landlords and the AHB landlords (which you included in 2018 figures) to the 2025 figures it is clear that number of landlords is higher than ever and that the numbers have been increasing quarter on quarter for years

AHB landlords are completely different. These are government supported and funded housing bodies which offer Council level rents to those entitled. It is social housing, just organised and owned by a voluntary body instead of the Council. These are not comparable with private sector landlords at all. You may as well be including Councils as landlords in here and arguing that because it is so profitable they are joining the PRS.

Landlords who have been registered with the RTB at any time post 2022, now can't rent to Ukranians via this scheme. Why? Because landlords left the PRS to rent to Ukranians. This would cause a decrease in registered landlords. Landlords availing of ARP don't register with the RTB. So it is very odd that within about 18 months (2023 and 2024), the number of registered tenancies jumps by a net figure of 27,000 while at the same time tenancies are leaving the RTB for ARP.

Also, where are all these properties that landlords are acquiring for the additional tenancies coming from. We build about 30k new houses and apartments every year - at least 10k (I'm guessing) of those must be acquired by AHBs and Councils. I'm not sure how many second hand properties are sold annually, maybe 50k to 60k, but stock is at an all time low, so I think we'd know about it if landlords were hoovering up a lot of the limited second hand stock.

 

[Dr Strangelove]

Everytime there's a mention of any pro landlord measure, we get to hear quite loudly about this €550m 'subsidy' to landlords.

My own view is that the private sector probably does a more efficient job of housing the needy than the public sector does.

It also derisks this state to a large extent as we are not left with lots of social houses in place as they are no longer needed.

They are neither a gift nor a subsidy to landlords but simply a payment for a service.