RTB Rent Register

My github repository now also contains the matchfinder tool which emulates the RTB rent register algorithm, although as noted, the RTB rent register does not follow its own algorithm correctly when producing the 10 matches.
github.com

GitHub - landlawd/rtbquerytool: RTB Rent Register Query Tool

RTB Rent Register Query Tool. Contribute to landlawd/rtbquerytool development by creating an account on GitHub.
github.com github.com

I believe these are very useful tools for gathering more data if you want to rent out a specific property. Feel free to share the link if you know anyone who might find it useful. If anyone cares to contribute to the github repo, go ahead, I will review any changes or additions.

However from a data analysis point of view I've run out of things to do with the tool. If anyone has any interesting ideas or suggestions, write them here or DM me.
 
Fair play @patfert1 - this will be hugely helpful when dealing with rent reviews & RTB nonsense.

Would you like to nominate a charity? Willing to make a donation to say thanks.
 
DannyBoyD said:
Would you like to nominate a charity? Willing to make a donation to say thanks.
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Hold off for a while I think it is only a matter of time when we will have a Charity For Struggling Landlords,( I am a landlord Myself)

I expect it is only a matter of time before the policy of charging rent at the highest possible rate will result in first certain parts of Ireland will not be able to attract workers or pay the workers enough to match the high rents, and where workers do come they may not be able to keep paying very high rents so hold off until Landlords have a Charity of there own,
 
galway said:
harging rent at the highest possible rate will result in first certain parts of Ireland will not be able to attract workers or pay the workers enough to match the high rents, and where workers do come they may not be able to keep paying very high rents
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That is already happening.

How can a teacher live in south Dublin?

Residential rents need to halve.
 
Protocol said:
Residential rents need to halve.
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Unfortunately for that to happen house prices need to fall.

Renting out a house is an investment like any other and it all comes down to yield at the end of the day.

The cost of a small house in a posh area South Dublin property must be in the region of 500k, with a lowish yield of 6%, considering the risks now involved in the PRS, that is a rent of €30k a year. €15,000 would, of course, be a much more reasonable and affordable rent, but the yield is 3% - worse than a savings account assuming the top tax rate. The landlord also has to take into account the fact that the property that cost him 500k is now only worth €350k with the tenant in situ and much less than that if the yield is 3%.

High house prices and regulation are guaranteeing high rents.

A teacher is unlikely to be able to buy in posh South Dublin either.
 
Greenbook said:
A teacher is unlikely to be able to buy in posh South Dublin either.
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2 houses in Dublin 14 for sale on myhome.ie priced at 450k. Equates to a mortgage payment of about 2,000 euro for a couple of teachers on 50 k each.

Throw in the rent a room tax free payment net spend is 1,000 euro.

Not bad imho. When I bought my first home it was in a far less fashionable location.
 
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Banquo said:
When I bought my first home it was in a far less fashionable location
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Very common years ago, people bought where they could afford even if the location wasn’t what they wanted. When income increased, they moved to their preferred location (which could take several moves). We’re still not there yet lol.
 
In summary - they are massaging the data.

And if they are prepared to remove what they believe to be "outliers and mistakes"; why are they not also removing cost rentals / housing associations etc.

And here's your clear motivation

These rules ensure ... alignment with business objectives when filtering and scoring properties
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The "business objective" should be to present all rental details for a defined location; not 'filter' and 'score'.
 
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The document says

Tenancy Type:Only Private tenancies which are New Registration and Renewed in the last 24 months are includedin the base dataset. This includes the most recent rent set amounts.

But didn't it appear to posters here that much older registrations are included?
 
Greenbook said:
New Registration and Renewed
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should be new or renewed registrations as I have 2 from 2019 in my list of 10.
That said new registrations are taken into account as a new registration from 0426 appeared on top of my list.
This new registration alone increased my potential rent (taking the top 3 into account) from 1800 to 2033 in a month.
 
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DannyBoyD said:
In summary - they are massaging the data.

And if they are prepared to remove what they believe to be "outliers and mistakes"; why are they not also removing cost rentals / housing associations etc.

And here's your clear motivation
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Can you be a bit more clear by what you mean by massaging the data,
 
galway said:
Can you be a bit more clear by what you mean by massaging the data,
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Cost rentals are included - these are advertised as being at least 75% below PRS market rent so not comparable. They are also included in the tenancy numbers to make it look as if these are increasing, so at least the RTB manipulations are consistent.

@patfert1 has analysed this and set up a github repository which corrects the RTB algorithm

Honestly, there are loads of posts on this thread on the specific problems with the Register and the posts are by people who really understand these things

The RTB is government propaganda at this stage - tenancy and landlord numbers are increasing and rents are low. Happy days!
 
Sr. Tayto said:
FOI request came back, some reactions but you can see the weighting here.
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This is great, very well done! I am looking forward to trying to replicate this algorithm on the sample data sets I collected, but I won't have time for this for some days. Initial thoughts...

Some of the redactations seem a bit odd.

"If there aren’t enough strict matches (Tier 1), we add properties from the relevant LocalAuthority for that property"
What does this mean? Properties not in the PRS?

As I suspected, Electoral Division (which is a subdivision of the Local Electoral Area) seems to be used as a proximity criteria in the weiighting.

No explanation why tenancies apparently originating in 2021-2023 appear to be sparse in the results of the RTB query tool.

Personally, I wouldn't care about the removing top and bottom 1%. The data I collected shows very normal distributions (bell curves) in the data so removing outliers - which may well be data errors - won't affect the overall picture much. I would be more concerned about any inclusion of non-PRS data or significant biases in the weightings in the matching algorithm... which is too complex to make an observation on without detailed study.

What I will be interested in when trying to code a replica of the algorithm:
* can i get broadly similar results? Bearing in mind the scraped data I will query is not all the data. So for example, I will not filter out outliers, on the assumption they are already removed.
* what can be seen in properties which do not "make the top 10" of a search. Will the top 30 or top 50, say, show higher rent levels which would be relevant for establishing a new rent?
 
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Been looking at property rental prices for a month now and have done a few exercises to fully understand the logic of the RTB and the rent register rules. So I'm going to do an exercise today. Taking a one bed in three cities. Limerick, Galway & Cork.
 
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Limerick


6 one beds to rent, €1500, €1600, €1800, €1950, €2000 & €2100

(The 2K one is particularly well done, but very oddly has no window in the kitchen/living, so either it's an internal apartment or it's a basement)

Next the RTB Rent Register, pop in Eircode of one of the above, pop in C for BER, pop in 30 m2 and this is what comes up

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- 6 of those are in Shannon? That can't be right can it?
- The highest rent in RTB is €1500, which is the lowest rent on Daft
- Lowest rent is €616, followed by €631 & €710
- let's go another way, if I take the €1500 & €1300 and €1100, ignore the €1200 as it's 70 m2, still don't get to the rents that are being marketed.
- I'll do this exercise again in a month to see if the RTB rents have gone up
 

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Limerick, let's try 35m2

1775815228356.webp


- so now 7 are in Shannon
- the highest in the previous list of €1500 has disappeared
- we get a new lowest €525
- the previous lowest €616 has gone
- the percentage match scores has gone up
 
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