RTB Rent Register

Greenbook said:
Is a landlord really going to risk an RTB investigation. They have unlimited resources to take the case, landlords don't

Is a landlord going to risk criminal prosecution? A criminal record? A possible prison sentence?

I think challenging their list is in theory only.
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If its unreliable it cant be used. To make it reliable they need dates rent was set on it as well as whether it was a new market set or just a 2% increment on the controlled price. It also needs to be transparent where how they choose the results to the query. Maybe return all results too and not just the top 10, so they can select the ones they feel like selecting. Otherwise its no good. And clearly putting properties on it that are far below market rent is just bullshit so cant be used.
I would dearly love to have a friend working in the RTB who could send me the SQL they are using here. Its a simple query, but I bet theirs isnt.
 
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bipped said:
If an EA or letting agency gave a valuation, would they be compelled to use the RTB list?

Surely they would use their professional expertise and assess everything about the property, condition, age, type of house and especially the location, to base their estimated valuation on, not just the size and BER. And they’d also include the most recent rent prices achieved. Pretty much what they do when valuing for a sale. And they are a regulated body so could the RTB discount their valuation? Revenue accept them for probate purposes.

What’s to stop a tenant offering more than the expert valuation. Bidding for rentals anyone?
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But its clearly flawed information on the RTB site, so I would say if they use that they are not doing their job at all. PArt of their job might be to clearly point out the bullshit items returned in the list.
 
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Wavelly said:
The RTB register is clearly only offering comparison properties that have been under RPZ for many years. From properties I see advertised on both daft and by estate agents, the market rent would be closer to €2200 - €2400.
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It does look rigged alright
 
JamieB_ said:
And clearly putting properties on it that are far below market rent is just bullshit so cant be used
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Does the list include AHB social houses and cost-rentals? I thought cost-rentals were pitched below market rents with discounts between 25-50%. How can they be valid comparators when both are heavily subsidised by the state.
 
bipped said:
Does the list include AHB social houses and cost-rentals? I thought cost-rentals were pitched below market rents with discounts between 25-50%. How can they be valid comparators when both are heavily subsidised by the state.
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Transparency would let everyone get honest results. Something the RTB arent known for, so not much hope. So flawed results cannot be used, therefore back to Greenbooks suggestion of getting professionals to value the the market rent for you.
 
Greenbook said:
I think that is the key to it. What are the parameters of the algorithm which decides what the 10 properties are?
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They say the algorithm is as follows.

A dwelling is similar if

Electoral AreaExact match
Type (house/flat)Exact match
Floor Area+/10%
BedroomsExact match
BERExact match

It then selects 10 (random?) of the matches.

If it can't get 10, then it weakens the search criteria.
  1. Drop BER match requirement
  2. Widen floor area requirement (unclear maybe +/- 20%)
  3. Bedrooms within 1 of an exact match
They also sort based on start date. This suggests earliest first, which are likely more strongly controlled rents at this point.

Only rents within the last 2 years are included. So current tenancies and ones that ended less than 2 years ago.

If there are lots of matches, then running the search multiple times will give different results.

If there are 7 exact matches and 30 weak matches, then the results would always show the 7 exact matches and then 3 random of the 30 weak matches.
 
I have done more checks. Now I don't seem to get different lists. But 2 identical profiles, except ber. Same median, but lower average and average of 3 highest for C1 versus C2
 
They should be flagging controlled rents and first rents as well as the date set. Its no good without that info. And they shouldnt be limiting to the top 10 results either. And show the search criteria used to select on the bottom of the page too. And definition of "bed spaces". Because I never heard of a rental with zero bed spaces. Are they using this for bedrooms?
If someone handed this thing in to me where I work I would be seriously thinking about finding a way to move them on to someone elses team. A 10 year old could do better.

And if they sort based on start date going back 2 years does that mean the most recent are dropped off after the first 10? There is no reason to be only returning 10 if there are more to use.
 
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JamieB_ said:
Yeah. Crazy.
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Yep, even more crazy that someone who set rent 8 years ago and didn't review it since shows up also as a current market level! I know of someone who has not reviewed rent since 2018 and I've been pull it up as a comparative in the list of 10.

I'm also noticing in some situations, I'm getting higher rent numbers using lower BER rating on the same property. Pretty odd incentives here.
 
Just did 10 searches, 10 properties, 3 being 7 Kms away, our apartment appears in the 10 searches, even in ours. I am talking about 2 towns and about 20k inhabitants. As soon as criteria it C BER, and a 70 square metres.
Note: I put the same eircode apartment with 65 and 70 square metres. The "smaller one" attracted the highest median, highest average and highest top 3.
 
JamieB_ said:
as well as the date set
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Do the four numbers following the RT in the property reference correspond to the date of the first registration? And the 25 at the end - is that to confirm it was registered in 2025?

From a random search in the swords area
RT-0124-xxxxxxxx-25
RT-0624-xxxxxxxx-25
RT-1218-xxxxxxxx-25
 
Will be interesting to see the effect these results will have on existing corporate landlords and those that the Govt are hoping to attract into the market. IRES for example have publicly stated that they were expecting to increase rents across their portfolio to market rates over time due to tenant churn. They may be disappointed to discover the RTB definition of 'market rent' doesn't match what most people would perceive as open market rent.
 
JamieB_ said:
Is there any chance that a FOI request could be used here? That would be hilarious.
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I wouldn't mind doing it, does anyone know what can and can't be asked for? I want to be as specific as possible so they can't weasle out of it. Specifically, what do we want?

How exactly the tool returns the properties?
LarryScott said:
They also sort based on start date. This suggests earliest first, which are likely more strongly controlled rents at this point.
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I read this as they would sort to show newer tenancies first, so less likely to be rent controlled so heavily? My issue is that they don't show what makes the "similarity score" up, there's not enough info to compare properties with what they have given us.
bipped said:
Do the four numbers following the RT in the property reference correspond to the date of the first registration? And the 25 at the end - is that to confirm it was registered in 2025?
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Can anyone check their own RT number to confirm this?
 
Mcivor said:
on
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bipped said:
Do the four numbers following the RT in the property reference correspond to the date of the first registration? And the 25 at the end - is that to confirm it was registered in 2025?

From a random search in the swords area
RT-0124-xxxxxxxx-25
RT-0624-xxxxxxxx-25
RT-1218-xxxxxxxx-25
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Possibly, but if they are sorted by date than that doesnt work they way they are sorted.
 
Sr. Tayto said:
I wouldn't mind doing it, does anyone know what can and can't be asked for? I want to be as specific as possible so they can't weasle out of it. Specifically, what do we want?
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I dont know how it would be requested but I think there are people on here who have done FOI requests before. Hopefully one of them can chime in.
 
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