Reform of the private rental sector

Discussion in 'Housing and mortgage arrears - policy issues' started by TheBigShort, 22 Oct 2018.

  1. BilliamD75

    BilliamD75 Registered User

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    The big short, I have had a look at your proposal using balance and logic and found the concept very good, it's very unfortunate that it would never work in Ireland as stated by others, I am a landlord myself and as a small property developer got into the business just to park capital, we had a great business model but have had enough of it, we rent 35% below market cost in Dublin City centre costing a small fortune, why there is a human element to it, the tenants who are Eastern European couples mostly, are the best and most hard working people I have met and are look after the apartments (three couples are with us over 12 years) , had one Irish person an estate agent and wrecked an apartment costing a fortune, the government have lost the plot making the suitation worse so its time to get out of the game, taxation and the socialists are to blame also , please use balance when suggesting landlords are increasing via the rtb, we all know that American capital is providing a high volume of apartments in Dublin through nama sales while the small Irish landlord some whom in my opinion should never have been allowed to be in the game like 100% interested only players, taxi drivers who owe 4 million and no money down and the gougers are getting out, my tuppence worth
     
  2. Sarenco

    Sarenco Frequent Poster

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    According to their annual reports, there were 174k landlords registered with the RTB in 2017, versus 175k in 2016.

    That doesn’t look like an increase to me.
     
  3. TheBigShort

    TheBigShort Frequent Poster

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    Last edited: 26 Oct 2018
    Absolutely, but it wasn't me that suggested it. It was a landlord on this site that commented once that they should increase their rents because the HAP will pay and tenants wont care.

    And with respect, limiting the blame for the housing and homeless crisis to current government policies is simplifying things. The same crisis is manifesting itself in many, many developed countries across the world all at the same time.
    This is a failure of an economic model that was built on a system of perpetual and ever increasing debt than transcends individual economies. We are enduring the consequences of that model.
    I don't think it is coincidence.
    That is why I think it is futile for others to persistently focus on the extreme marginal cases of housing mismanagement in the State. The issue is much bigger, much broader, much deeper than a cluster of mismanaged social housing units.
     
    Last edited: 26 Oct 2018
  4. TheBigShort

    TheBigShort Frequent Poster

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    The report im reading states 175k for 2016 and 176K for Sept end 2017.

    Source: @AlbacoreA "How many landlords have quit..." page 13
     
  5. AlbacoreA

    AlbacoreA Frequent Poster

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    Its old data at this point. Also could you not find your own data sources?

    Maybe we should link to the articles and reports.
    https://www.dublininquirer.com/2018/03/07/mick-landlords-aren-t-fleeing-the-market-in-droves

    I see in the latest reports its down 4k on last year Q2.
    https://onestopshop.rtb.ie/images/uploads/Registration/Reg_Q2_2018.pdf
    Q2 2017 (177,884) Q2 2018 (173,725)


    But put that in context of population growth...
    https://www.irishexaminer.com/ireland/irelands-population-growth-five-times-eu-average-472747.html

    Private rental reform isn't going to solve that problem.
     
  6. The Horseman

    The Horseman Frequent Poster

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    Exactly landlords are leaving the market to be replaced by Institutional ones which would account for the drop in landlord numbers but the increase in tenancies.
     
    Firefly likes this.
  7. Bronte

    Bronte Frequent Poster

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    Wrong. The number of registrations has increased. It does not mean the number of landlords has increased. The RTB has a team to increase compliance with registration. That's all.
     
  8. Bronte

    Bronte Frequent Poster

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    Because the costs to get in, despite the low mortgage rates, and the red tape, plus the higher taxes have created a perfect storm to stop private investors.
     
  9. Firefly

    Firefly Frequent Poster

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    I agree with this and thing this could be a disaster for tenants. Ever increasing regulations and restraints will result in small landlords leaving the market as you say. These will be replaced by larger players who have the resources to comply with the regulations but will become very adept at getting rid of unwanted tenants by playing within the rules. In fact they will be able to bombard tenants with notices and tie the RTB up in circles with legal documents and notices. I also fear that a smaller number of large players could more easily influence politicians.

    From the tenants perspective they could very well end up dealing with the landlord company by ringing a 1890 type number and being answered offshore....
     
  10. The Horseman

    The Horseman Frequent Poster

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    It definitely will be for the majority of tenants. A work colleague of mine was a tenant of one and he was charged for everything and I mean everything.

    I am a landlord and I would normally let tenants off with some things if they are genuine tenants.

    I completely agree with you regarding how they will operate. Once they get a large enough foothold in the rental market the landscape is definitely going to change for the tenants and I don't think for the better.
     
  11. Firefly

    Firefly Frequent Poster

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    A colleague of mine, who I would regard as being "well connected" told me that even more rights are on the way for tenants. He didn't go into details but said it related to residency rights. This will further push the small landlord out. He thought that the best way for a property play was thus to just invest in one or more of the large REITs. They will have to resources to play the game a make a ton of money.
     
  12. AlbacoreA

    AlbacoreA Frequent Poster

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    That's what many landlord would be thinking. Sell up and invest in a Reit.

    At some point the market will change and the REits will sell up pretty quick and move elsewhere.
     
  13. AlbacoreA

    AlbacoreA Frequent Poster

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    The report lists the number of landlords separately..

    I'm sure if someone dug into it t there would a number of tenants per landlord and you see the REits there.
     
  14. AlbacoreA

    AlbacoreA Frequent Poster

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    This thread is turning into a duplicate of the last and it ends up being a monologue from one poster.

    The govt could use the examples from other countries to improve the market. Instead they make it worse. So it's a bit futile suggesting a plan that requires action from the govt.
     
  15. The Horseman

    The Horseman Frequent Poster

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    I am not sure what additional rights the State could give tenants regarding tenancy for privately owned property. If you try to change ownership rights of private property be it rented or not I would expect a backlash from the public at large.
     
  16. Firefly

    Firefly Frequent Poster

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    I believe it's more to do with tenants being able to remain in a house if it being sold