How many landlords have quit because of rent controls?

[AlbacoreA]

And what is your point? You seem to think LLs should be able to charge "market rates" without interference?
On the other hand you are forewarning us of REITs doing exactly that.

The question is about how many LLs have quit because of rent controls.
Nobody knows.
You are the only one to have produced some form of figures which suggest, that since rents controls have been introduced, more LLs have entered the sector.

I know it doesn't support the narrative, but thats life!

My point is you're missing the bigger picture.

 

[AlbacoreA]

In Summary,

We have more LL entering than leaving,
More Bigger LL, REIT
We have Rent Controls
We have lots of improvements to tenants rights and tenure,
We have improvements to standard of accommodation,
We have the Govt initiatives on social and affordable housing,

Basically everything that was asked for is being done. No.. Why is no one happy...

 

[The Horseman]

In Summary,

We have more LL entering than leaving,
More Bigger LL, REIT
We have Rent Controls
We have lots of improvements to tenants rights and tenure,
We have improvements to standard of accommodation,
We have the Govt initiatives on social and affordable housing,

Basically everything that was asked for is being done. No.. Why is no one happy...

There are not equal protections for small landlords. All of the above are either tenant or large landlords benefits leaving the small landlord in a precarious position.

 

[AlbacoreA]

There are not equal protections for small landlords. All of the above are either tenant or large landlords benefits leaving the small landlord in a precarious position.

Small LL are something like 85% of this market. Does it really matter if they leave....

 

[TheBigShort]

The horror.

You are happy to allow large REIT LLs come into the market squeezing out small and then driving up rents more aggressively as was suggested by another poster? Yes or no? If no, then;

if you want to quote me in this context, please do so in full sentences not random parts of phrases selected to mislead

 

[The Horseman]

Small LL are something like 85% of this market. Does it really matter if they leave....

Only if you are a tenant. I am a small landlord and have spoken to work colleagues who are tenants of institutional landlords and were tenants of small landlords and all have said they preferred the small landlords than the institutional ones.

If we are driven out of the market which to date appears to be the intention then I pity any tenant of institutional landlords going forward. Be careful what you wish for as you might get it and realize that you don't want it but can't change it once you get it.

 

[AlbacoreA]

You are happy to allow large REIT LLs come into the market ...

No one else could afford to absorb the risks being designed into the business model.

 

[TheBigShort]

No one else could afford to absorb the risks being designed into the business model.

Yeh, so what? If they can scale their costs squeezing out the small LL and extract a bigger return on their tenants, isn't this just the wonders of the 'free-market' working its magic?

 

[AlbacoreA]

Good luck with that.

 

[T McGibney]

You are happy to allow large REIT LLs come into the market squeezing out small and then driving up rents more aggressively as was suggested by another poster? Yes or no? If no, then;

That's the consequence of the government interference that you praise and crave. I thought you supported these "property manager" REITS to whom you want to hand lock-stock-and-barrel control of private rental property administration?

 

[TheBigShort]

hey you seem to have all the answers and are unwilling to accept any other viewpoint as yours is the only one that is right.

Here is a selection of my comments that show that I neither have "all the answers" and that I do share common ground on certain points.

I can sympathize with a landlord who is in that position,

Yes, I agree.

Yep, need to go after them for sure also.

State intervention is no panacea.

agree

I dont categorize all private landlords the same.

I have no issue with that?

I think there is something quite succinct in your comment above.

I agree, there is a mismatch between State interference and free trade enterprise

I agree, that is what I said.

I agree, that is what I said. The State has shown itself as being inadequate to manage housing.

So if you want to discuss the central issue and/or related issues, stop trolling.

 

[TheBigShort]

Good luck with that.

??? Im not advocating it. You forewarned that this could happen. I got the impression you thought that would be a bad thing?

 

[The Horseman]

Here is a selection of my comments that show that I neither have "all the answers" and that I do share common ground on certain points.


So if you want to discuss the central issue and/or related issues, stop trolling.

That's the consequence of the government interference that you praise and crave. I thought you supported these "property manager" REITS to whom you want to hand lock-stock-and-barrel control of private rental property administration?

It would appear you are the one trolling changing your stance!

 

[TheBigShort]

That's the consequence of the government interference that you praise and crave. I thought you supported these "property manager" REITS to whom you want to hand lock-stock-and-barrel control of private rental property administration?

No.

And its quite unfathomable that at this point you still dont understand what I proposed.

One last time, brief example.

LA have a property which is suitable for rental. LA dont want to get involved in the day to day affairs. LA want somebody to manage it for them.
The property can fetch €24,000 a year rental in private market.

All the LA want is

- €2,500 of that and
- a guarantee that the manager will set aside €1,500pa for fixtures fittings etc.
- altogether €4,000pa

Anyone interested?

If LA get more than one interested party, it will award the management of the house to the person who guarantees the lowest rent for their tenants.

 

[TheBigShort]

It would appear you are the one trolling changing your stance!

If that was my stance yes I would be trolling, but it is not my stance.

 

[TheBigShort]

How much would this cost? Again, 100,000 homes built at €250k each would cost €25 billion

Labour Party is proposing to build 80,000 houses over 5yrs at a cost of €16bn

 

[Firefly]

I thought you supported these "property manager" REITS to whom you want to hand lock-stock-and-barrel control of private rental property administration?

Exactly!

 

[T McGibney]

Labour Party is proposing to build 80,000 houses over 5yrs at a cost of €16bn

The Labour Party

The "Frankfurt's Way" Labour Party.

You crack me up sometimes.

No.

And its quite unfathomable that at this point you still dont understand what I proposed.
...
If LA get more than one interested party, it will award the management of the house to the person who guarantees the lowest rent for their tenants.

I understand it alright. Still makes no sense.

 

[The Horseman]

Labour Party is proposing to build 80,000 houses over 5yrs at a cost of €16bn

And exactly how are they going to finance this? The Govt tried to hide the cost of housing by setting up Approved Housing Bodies to keep the costs off the States balance sheet and was told by the IMF that the Approved Housing Bodies costs were State costs and as such resulted in Irelands debt ratio surpassing what was agreed as part of the bailout.

I don't see where the funds are going to come from to build all of these houses unless either (a) the IMF relax their rules (which I doubt as other nations most notably Greece will want similar treatment of (b) the funds come from the private sector.

I would put this down to electioneering and nothing more.

Even on a basic level assuming the figs are accurate it will cost 200k per property (this I assume will be built on State land so does not include land costs).

 

[TheBigShort]

The Labour Party

The "Frankfurt's Way" Labour Party.

You crack me up sometimes.

I wasn't advocating it. Merely informing you of their proposal.

I take it you are opposed?
You are also opposed to my proposal.

Perhaps its time you proposed something to resolve the issues surrounding the housing crisis? Anything at all that you think might help?