Rent Freeze To Be Extended Beyond 20 July

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Sarenco

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According to the RTB, average rents fell by 3.8% over the last three months.

This is in no small part due to the massive increase in supply because of the virtual collapse of the short-term letting (Airbnb) market.

So how is the Government reacting to this welcome news?

It's extending the current freeze on rent increases!

You really couldn't make this up...
www.thejournal.ie

Rent freeze to be extended beyond 20 July

It is understood a memo will go to Cabinet on Monday to approve the measures.
www.thejournal.ie www.thejournal.ie
 
NoRegretsCoyote said:
Much more likely due to the hundreds of thousands of people who don't need to live near a place of work anymore.....
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That's certainly a relevant factor.

Either way, there were 65% more rental ads on Daft for Dublin in June 2020 than the same month a year ago.

An increase in supply of that magnitude was always going to depress market rents.

So why is the Government fighting yesterday's war by extending the rent freeze?

I'm so glad I exited the residential letting business a few year's ago - Government interference has really got to ridiculous levels at this stage.
 
What strikes me as odd is that there is not one TD or Senator who has even questioned this.

They all seem to be outdoing each other to make it longer and harsher on the landlord.

Brendan
 
Landlords costs have not gone up significantly in this period since there has been no change in mortgage rates, on that basis, what's the big deal around no increase in rent? When you look at some of the rents being charged for substandard properties in Dublin, it's hard to have any sympathy for landlords.
 
Pinoy adventure said:
Would you think that might mean a drop In price if trying too off load a place on the current climate ?
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It’s hard to say, but if I had to call it I’d think price increases are more likely.

Supply is constrained as builders weren’t building and landlords can’t get their properties vacant; yes, demand got a shock, but it’s always there.
 
A friend of mine has been grappling with new landlord for months now having been served a termination order after 10 years. Following ownership change proposed rent went from 650 (way too low) to 1450 (way too high). It's only the eviction ban keeping him in the place as without this he had all sorts of plans of quitting his job and returning home to England. I believe he's negotiated a middle ground is E1050 to stay, keep him job and remain in Ireland. Please don't pick the story apart saying he should do this and that, I'm just saying it's helped some people in really hard situations to buy some time.
 
Boyd said:
A friend of mine has been grappling with new landlord for months now having been served a termination order after 10 years.
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But without the Covid rules after ten years a landlord has to give seven months' notice!

Consider the the following. You are a landlord. You have a single tenant in a four-bedroom house who hasn't paid rent in six months. You can't terminate the tenancy due to Covid rules. You have found a family of six in emergency accommodation, and you want to let the house to them on a HAP tenancy. But you can't get rid of the single tenant, and the family stays in emergency accommodation.

Who benefits here? Not the landlord, not the homeless family, and not the taxpayer.
 
The optics of lifting the rent freeze are likely scaring the hell out of the government, cannot say I’d want to be the one to make that announcement. Easier to leave it in-place and let it disappear quietly as part of the final lifting of all the last restrictions I’d say. The new government has had enough high profile outings in the media without going for an own goal on something like this.
 
Peanuts20 said:
When you look at some of the rents being charged for substandard properties in Dublin, it's hard to have any sympathy for landlords.
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If rental properties are sub-standard, then they should be reported to the authorities who will issue the landlord with notice to remedy the issues within a fixed time frame or face fines. The standards now required of rental properties exceeds those permitted for owner-occupiers.
 
Boyd said:
A friend of mine has been grappling with new landlord for months now having been served a termination order after 10 years. Following ownership change proposed rent went from 650 (way too low) to 1450 (way too high). It's only the eviction ban keeping him in the place as without this he had all sorts of plans of quitting his job and returning home to England. I believe he's negotiated a middle ground is E1050 to stay, keep him job and remain in Ireland. Please don't pick the story apart saying he should do this and that, I'm just saying it's helped some people in really hard situations to buy some time.
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Is it in a rent pressure zone?
And if so subject to 4% annual increase?
Even with the change in owner.
 
NoRegretsCoyote said:
Consider the the following. You are a landlord. You have a single tenant in a four-bedroom house who hasn't paid rent in six months. You can't terminate the tenancy due to Covid rules.
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Difficult to terminate the lease pre-Covid rules too I imagine....I was wondering why there is so many student accommodation being built at the moment. I guess with a student, the downside is limited to an academic year ;)
 
Leo said:
If rental properties are sub-standard, then they should be reported to the authorities who will issue the landlord with notice to remedy the issues within a fixed time frame or face fines. The standards now required of rental properties exceeds those permitted for owner-occupiers.
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here are some examples that were spotted yesterday


I know most landlords are decent and many have bent over backwards to help their tennants in the current crisis but unless you have an unusually low historical rent, i struggle to have any sympathy for any landlord looking to increase their prices at a time when the bulk of their costs have remained static
 
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