RTB Rent Register
- Thread starter Sr. Tayto
- Start date
The tool is up.
Does anyone know how if we can choose any 3 of the 10 properties given or would there be an issue if the similarity is towards the top of the range?
That's a thing, the number of bed space is counted. We have 2 very large bedrooms. We recently removed a twin bed as one of the bedroom was used by renter as an office. We are still renting to a couple. We asked if they wanted another bed, but they didn't, so 3 bed spaces. And this seems to be counted.
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Case 1:
south west dublin 3 bed sem, currently rented out for 1400 (10 years on RPZ).
* match score high, 90+. Only BER differentiated the ten results.
* Only one of the 10 had the same BER as my property. 2 had no BER. The other seven were higher.
* Top 3 rents 3000, 2892 and 2675 (all higher energy rating). Lowest 3 (including the one BER match) 1500, 1510, 1803.
* The electoral area is very large and contains both very new and very mature (close to everything) areas. No way to see this in the results.
UPDATE: I modified the sq m from 85 to 88 and got quite a different set of properties with a considerably higher average rent amount (much more than 3 sq m would justify). That's interesting.
The site says "Select three comparable examples. ". Is it implying that I would only be able to justify 3 with close energy rating, since all other criteria are identical? That is, I would not be able to justify the top 3?
Case 2:
Large family property in countryside, not currently rented out.
RTB rgister returned error message. When I reduced the sq m size considerably, it returned 10 results.
* The results were in same part of the country. This was visible in the ED column.
* Match scores very low (c 50)
* Rents were pathetically low compared with what I would expect for a large family home, only a couple barely over 1000,the lowest were around 600
south west dublin 3 bed sem, currently rented out for 1400 (10 years on RPZ).
* match score high, 90+. Only BER differentiated the ten results.
* Only one of the 10 had the same BER as my property. 2 had no BER. The other seven were higher.
* Top 3 rents 3000, 2892 and 2675 (all higher energy rating). Lowest 3 (including the one BER match) 1500, 1510, 1803.
* The electoral area is very large and contains both very new and very mature (close to everything) areas. No way to see this in the results.
UPDATE: I modified the sq m from 85 to 88 and got quite a different set of properties with a considerably higher average rent amount (much more than 3 sq m would justify). That's interesting.
The site says "Select three comparable examples. ". Is it implying that I would only be able to justify 3 with close energy rating, since all other criteria are identical? That is, I would not be able to justify the top 3?
Case 2:
Large family property in countryside, not currently rented out.
RTB rgister returned error message. When I reduced the sq m size considerably, it returned 10 results.
* The results were in same part of the country. This was visible in the ED column.
* Match scores very low (c 50)
* Rents were pathetically low compared with what I would expect for a large family home, only a couple barely over 1000,the lowest were around 600
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I can see the RTB arguing the toss on that one, that you would not be able to use the top three.
The last thing the government needs is a big jump in rents. The RTB is not a neutral regulator. It is an arm of the government, so it will step in and challenge increases.
A few high profile cases with shamed, fined and possibly criminally prosecuted landlords will sort things nicely.
It would be an interesting argument. If from a large electoral area in Dublin - where there are presumably a very high number of rented-out 3 bed semis scanning most BER categories - the RTB register gives me the closest 10 matches (all 90+), but I am not allowed to select my preferred 3, well what's the purpose of the "match score" then?
Also there is no consideration of the internal state of the property. I know whether mine is luxury or basic, freshly decorated or not repainted in 20 years, but I have no information on the "comparable properties" to make a justification with.
This thing is a joke. I just put in a 1 bed apartment in Swords and it came back with 10 properties ranging from €1074pm to €1850. Below the 1850 on the next highest was €1620. The average of the whole lot was €1200. The BERs were all over the place including an apartment that is A1. Bed spaces is another joke. 2 out of the 10 have 0 bed spaces even though. The rest bar one have 1 bed space.
There is no date to say when the rent was set in the samples. There is no indicator to say that the rent is controlled or open market rent.
Its a gimmick. You couldnt possibly get the correct market rent using it. There is just no way.
There is no date to say when the rent was set in the samples. There is no indicator to say that the rent is controlled or open market rent.
Its a gimmick. You couldnt possibly get the correct market rent using it. There is just no way.
I manage a property that has been vacant now a week and was holding off advertising until this rent register became live to use it before deciding on rent.
The comparable 10 properties ranged from the lowest 3 properties at €843, €843, €1000 to the highest two being €1600 and €1700. That is for a 1 bed in D8 about 15-20 walk to Grafton St.
Prior to this, using the Daft website as a guide to what other similar properties in the area, the advertised prices there on daft are a lot higher. But there is a lot of rental properties on the street itself on either side of the house and across the road, and a lot have long term renters and probably not advertising often either.
The comparable 10 properties ranged from the lowest 3 properties at €843, €843, €1000 to the highest two being €1600 and €1700. That is for a 1 bed in D8 about 15-20 walk to Grafton St.
Prior to this, using the Daft website as a guide to what other similar properties in the area, the advertised prices there on daft are a lot higher. But there is a lot of rental properties on the street itself on either side of the house and across the road, and a lot have long term renters and probably not advertising often either.
So rent capped properties must be used to determine the 'market rent'
Just did the same. Different list. Same median.
Then changed the BER to a lower one. Some of the same properties came up. Lower median.
€1850 still the highest but a different property with a higher BER this time.
All the rest way lower. I know for a fact the next door neighbour with an identical apartment let it for €2100pm last August.
Just sent him a text there to ask him if its still rented for that and he said it is. Yet no sign of it.
So just for fun I put his property in. Comes up with the same highest price as mine did and the same median price. Some different properties, but only one high one. Yet no sign of his even on the list. Wouldnt you think that comparing similar properties ion the area would return the one next door or even the one you are comparing to in the list. Nope.
This is a curated data selection for sure. Its fixed.
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Any rent capped properties should not be returned in this list. Only properties rented in the last 6 months or so and right up to yesterday. And only those that were rented at market rents and not rent reviewed on capped rents.
Most of those prices coming up are so clearly long capped properties.
LarryScott
Frequent Poster
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This is the key from the legislation, you only have to give "regard" to the values from the RTB.
The statement that you must give "substantial weight" to the RTB numbers isn't really in the legislation.
The idea is that the landlord must check the numbers, and then also make those numbers available to the tenant, and then they can negotiate "having regards" to those numbers. They can both give as little, or as much, weight as they feel like it.
It prevents the landlord from charging an above market rent without the tenant realizing that the rent is very high.
Another issue is that it looks like you can't actually set your own filter. The RTB decide what results are returned.
I think that is the key to it. What are the parameters of the algorithm which decides what the 10 properties are?
Overall having a register does make sense as it is important to ensure that the naive tenant doesn't get stung, but it certainly looks like it has another role as well