More evidence of a massive landlord exodus due to the new rules

Brilliant and to the point! I had a meeting with Darragh O Brien when he was connected with housing and explained the stupidity of what was happening to the rental business. He heaped platitudes on me and said how delighted he was to have met me. It was a waste of my time meeting with him. I am down from 16 to 9 rentals now and am in the process, reluctantly, of evicting mostly excellent tenants. Irish landlords are going the way of the local shop unfortunately.
 
Fruity fruity said:
I am down from 16 to 9 rentals now and am in the process, reluctantly, of evicting mostly excellent tenants. Irish landlords are going the way of the local shop unfortunately.
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Empirical evidence being ignored on a never before seen scale.

I have two apts given over to Ukrainian scheme. I really really expected to hand all 5 rental properties to my son but will sell them and likely put them into a passive index fund and not have to deal with this utter complicated regulatory mess.

I started reading through new 6 monthly update on the reg changes and honestly, I cannot keep up.

I genuinely, genuinely cannot keep up with this constant regulatory churn.
 
Banquo said:
A different take from a large EA here
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That link doesn't seem to work, but I get the impression from an Irish Times article here which seems to be about that link, that Hooke and McDonald are talking about the Funds and large landlords.

That has been the view here as well. The larger landlords won't be selling and may well be expanding. They can cope with the complex legislation, they don't need the flexibility to sell and they can carry some bad apples who don't pay the rent.

They'll be concentrating on the lucrative young, mobile, high paid professional market.
 
Very interesting quote from the Examiner article, it sums up where the PRS is now for small investors. It's a quote from a couple who were buying a new build to rent out.

They noted that the most “striking” part of the process was that “not a single professional we have dealt with has advised us to proceed with becoming a private landlord”.

“On the contrary, almost every advisor has cautioned against it — including solicitors, accountants, and even the builder of the property itself,” they wrote.

“The consistent message has been that, under the current and proposed regulatory and tax environment, the risks for small landlords far outweigh the potential returns.
 
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Banquo said:
A different take from a large EA here
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I think his numbers are misleading.

The €255mm he references seems to come from this Cushman & Wakefield report



This is clearly misleading as for example it includes the €32mm IRES REIT are spending on new units in Naas. The problem with including this is that the funds to purchase these apartments are raised from IRES selling other units. They have not raised any external capital / there is no new capital in the PRS from this 32mm. They are not borrowing for these either. I don't know about the rest of the numbers, but if they are like the IRES €32mm then I think it's questionable to be using this as evidence and undermines his claim (as IRES REIT has said on their call they are predominantly selling units to home owners so overall new impact on the PRS is flat from this)

It's curious he didn't cite the report he took the numbers from.
 
Persia said:
I have two apts given over to Ukrainian scheme.
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We discussed ARP before. Any thoughts on how to get these properties back? My Ukrainian licencees have been looking for somewhere else for 6 months and I want to sell the property. I know they can't afford current rents.
 
One of the media arguments for not getting rid of ARP was it was mainly accomodation that would not otherwise be available on the rental market.In my area that is not true,landlords quite openly bragged about the 800 ARP and tenants then topping up,which they are not supposed to do.I cannot say it was widespread but I know a fella with 5 apartments let via this arrangement. I wont ask anyone on here but it is very generous to let an apartment for 800,or is it now 600 per month.
 
theo67 said:
I wont ask anyone on here but it is very generous to let an apartment for 800,or is it now 600 per month.
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Not really, alot of property owners paying over 55% tax (40% tax + 8% usc + 3% usc surcharge + 4.2% prsi). So the €600 under arp is equivalent to getting €1340 taxable. €800 is equivalent to €1810 taxable. Depending on the area etc, it probably is the case that it's more worthwhile taking in sometime in ARP (as it is tax free)
 
Firefly said:
God help the tenents who will have to communicate with an AI bot regarding a failed appliance....
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I heard a good one from an estate agent I know. With one of his large landlord clients, if the tenant calls to say that the washingmachine is on the blink, the repairman is out straightaway. If the breakdown is the tenant's fault, a clip in the drum or a tissue in the piping something like that, the tenant gets the bill. If the tenant doesn't pay, the warning letters, followed by the NoT for breach of the lease starts. The tenant invariably pays up. All in the terms of the lease apparently.

The amount of times I have paid for things like that including damage caused by flooding which I often wasn't told about for ages and I'd have done nothing more than mildly given out to my tenant!

I think tenants and the RTB might be in for a bit of a shock at the professionalism of the large landlords.

Anyway, that is the future, the small guys are leaving. It is no longer work the risk and the trouble.
 
@Greenbook. Agree! I recall replacing a washing machine, unblocking drains, getting workmen out to replace broken toilets, dealing with mould, and all these things, knowing that probably or definitely that it was the tenant's fault but not having appropriate wording in the lease agreement to make it their responsibility. Although I learnt over time, commercial landlords will not be "flexible" about these things like most small landlords are. As someone wrote elsewhere, they will likely deploy AI chatbots as the first line of support to frustrate the complaining tenants :)
 
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theo67 said:
One of the media arguments for not getting rid of ARP was it was mainly accomodation that would not otherwise be available on the rental market.In my area that is not true,landlords quite openly bragged about the 800 ARP and tenants then topping up,which they are not supposed to do.I cannot say it was widespread but I know a fella with 5 apartments let via this arrangement. I wont ask anyone on here but it is very generous to let an apartment for 800,or is it now 600 per month.
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I was rent controlled because I hadn't screwed my previous tenants so even 600 tax free was ok. The main attraction was to get out of PRTB and reset the rent however that is no longer relevant as I won't rent it again. Non Ukrainians could not compete with this. My tenant said that many of his friends were topping up also. Pure greed.
 
Involved in property in two totally different markets.

Today. In Gorey Wexford. 21 properties listed on Daft for rental. Double of what was on the market for much of last year.
Today Palmerstown Dublin 20. 6 properties listed on Daft for rental. Again easily double what was on the market for much of 2025.

Could be a lot different in other areas but as mentioned above just areas I have an interest in.
 
KOW said:
Today. In Gorey Wexford. 21 properties listed on Daft for rental. Double of what was on the market for much of last year.
Today Palmerstown Dublin 20. 6 properties listed on Daft for rental. Again easily double what was on the market for much of 2025.
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It's a very seasonal market. There is always an uptick coming into summer holidays. You need to compare to same week / period last year (if you can) to make the generalisation.
 
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Watch both areas Palmerstown/Gorey weekly and deffo more rentals this year. Do notice a number of rentals in past year up for sale but on the ground that is whats happening.
Was going to clock out myself but decided to hang in as a landlord.
 
patfert1 said:
Over this year have you noticed a particular increase in Q2 compared with Q1? Landlords may have held back until after March 1st to get tenancies under the new legislation.
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On this website, I’ve already confirmed that this was the case. I spoke with auctioneers on it.
 
KOW said:
Today. In Gorey Wexford. 21 properties listed on Daft for rental. Double of what was on the market for much of last year.
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I'm seeing an increase in Cork City as well. It was always about 60 to rent, now it is about 100 generally.

When I had tenants leaving in the past, I usually had no need to advertise. All my rents were low due to the RPZ, a friend or relation of the outgoing tenant would be introduced as the new tenant. They would be moving from someplace more expensive or from a rental outside the city.

That's changed now with the re-set to market rent. I imagine if I was reletting now, I wouldn't have these friends and relations being introduced. My place would be as expensive as everywhere else.

Hard to believe anyway that there is such a massive influx of landlords into the market all of a sudden. Double the number of landlords in a few short months.

All the estate agents report far more sales than purchases by landlords.

I really think it is just that it makes sense for a landlord to rent now.

Also landlords holding back properties until after 1 March as other posters are saying.

But primarily I think it is that it is necessary to advertise now. Your outgoing tenant doesn't present you with a replacement. Also with the 6 years, landlords are much fussier about who then rent to. Again it makes sense to advertise to get a large pool of potential tenants to choose from.
 
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