Irish Times covers Landlord's perspective on rental crisis

Its really not communism. Its well regulated housing policy, rather than the wild west we have here.

You will find similar housing policies in the Stalinist strongholds of New York, or Germany, or France, or Sweden.

Private landlords are discouraged and large corporations, who get too big for their boots, are subject to strict regulation

Berlin’s vote to take properties from big landlords could be a watershed moment | Alexander Vasudevan

The successful referendum to expropriate the city’s apartments from corporate landlords is a potential template for Europe, writes Oxford University’s Alexander Vasudevan
www.theguardian.com


Just for the record, I do not advocate the execution or gulag style exile of private landlords.
 
Who owns it now?
 
Allpartied said:
The council still own it and when my mother passes on, or needs alternative care, it will be used to house another family.
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One of the reasons for the shortage of housing (social and affordable) was local authorities selling off their housing. Not just in Ireland but across Europe. Also not building to replace stocks.

Only 75 local authority houses were built in 2015 - the worst year on record

Last November, Alan Kelly vowed there would 200 council houses built by the end of the year.
www.thejournal.ie
 

This would be the strict regulation and enforcement that they are failing to do now. But magically would suddenly be able to do it because....?
 
Allpartied said:
The council still own it and when my mother passes on, or needs alternative care, it will be used to house another family
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You have some flawed thinking in your argument. From my experience, professional corporations renting out properties do so at the top end of the market. They charge the maximum rent possible and leave units vacant and release in small tranches to the rental market to ensure demand is high and so is the rent. These corporations are not interested in the lower end of the market, which is, again in my experience where a lot of these small landlords that you want to gently push out of the marketplace. Who will house these families and individuals paying in a lot of instances well below the market rent for such a property?

Do you want the small landlords to stay on in the market until the Councils and the Stat build enough houses for all these people in receipt of HAP etc? And once thats done then we can run the small landlords out of town?! Are you upset that these faceless corporations wouldn't have been interested in house you, your family or your mother? Are you jealous of small landlords and wanting to push them gently out of the market so that you can get a house perhaps?

Why is the focus on a relatively small number of landlords (86% of them hold just 1 or 2 properties) and not on the faceless corporations who hold tens of thousands of rental properties, or on the State and Councils who have overseen the sell off of Council properties and the stopping of building of Social Housing? Is it easier to blacken and blame a small cohort of landlords who may have this as their pension and worked and scrimped hard to save up and pay for the property?

Better to blame and gently push the small landlords out as these blaggards are paying 52% of rental income/profits in tax, whereas the faceless corporations are paying a fraction of that. To hell with these landlords.

I'm not a renter, but running the mom and pop landlord out of business is a seriously back move over the medium term. I'd love to see the figures on what the mean or median rent charged by landlords with 1 property is, compared to faceless corporations with over a 100 properties. Does it need to be spelt out to you that if you want a market place with only faceless corporations then be prepared to pay anything from 200-500 euros (or maybe more) for the same property each month.

In hindsight, what people wish for, if it comes to pass, can make them feel like idiots for proposing it in the first place. I get the feeling your suggestion of gently pushing the small landlord out, falls into this category perfectly.
 

This is, indeed, the core of the problem. Private landlords, may be petrified, but with rents at record highs and prices still rising, renters are even more scared.
Maybe, we need a little more intervention from the state, instead of this blind faith in the market.

Rory Hearne: Why is Nama not being used to address housing emergency?

The failure to use land owned by Nama to resolve the housing crisis is a failure of government policy, writes Dr Rory Hearne
www.irishexaminer.com
 
PebbleBeach2020 said:
whereas the faceless corporations are paying a fraction of that
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If you are talking about REITs, then they have to pass on their profits to the shareholders - and the shareholders have to pay income tax on that so it is not exactly as taxless as you imply
 

Hold on, the RTB are just suggesting there might be unacceptable non-compliance based on rent increases being notified to them. Aren't they the authority who determines compliance with rent increases? They publish a tool to allow landlords determine the maximum they can increase rent by, but somehow they're not able to run analysis themselves on their own data to detect non-compliance?

It's also no surprise that such a high proportion of properties in Fingal fail the inspection. The standards are set the the latest building regs, so the vast majority of older properties will fail one or more elements. Individual landlord or large company will have no effect on that issue. Indeed, the more likely outcome of greater institutional involvement in this area is that these companies with their significant legal budgets will fight to reduce these standards.
 
If the small landlords are petrified, when rents are the highest they have ever been, then maybe they should all bail out. When a house is sold, it doesn't disappear.



The private companies may have a role to play and, it is my experience, that they are far more professional when it comes to implementing simple repairs, or upkeep, or secure tenancies. Most landlords regard the property as their house, which they have generously allowed you to rent, until they decide to kick you out.
But councils, or housing associations should form the bulk of the rental market. They should be present in every part of every town and city in the country.
 
Allpartied said:
Maybe, we need a little more intervention from the state, instead of this blind faith in the market.
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With the state bodies struggling to collect rent, they have been most influential in trying to pass this off to the private sector.
 
None of this has anything to do with private LLs.

Regulation, enforcement and supply are all controlled by the state.

Private rental market should be seperate from social and public housing. If you have a 2 million euro apartment it makes no sense you are tied into the same rules and regulations as a the cheapest one bed flat. Really all these knee jerk ideas are just destroying the market. The Govt is happy to deflect on to the private market because it makes people ignore the Govt part in all of this.

The problem you have is the vast majority of the private market is one property landlords. How much wealth do you think you can generate from one rental.
 
Department of Finance officials warn Department of Housing against extending rent controls -

‘The insights from economics is clear about rent controls: they reduce housing supply relative to what would otherwise be the case. So while those currently in rented accommodation may benefit from price controls in the short run, those seeking to get into the rental market lose out because supply is curtailed.’

Expanding rent pressure zones will cut housing supply, say mandarins - Extra.ie

Expanding rent pressure zones will reduce the supply of housing, the Department of Finance has warned.
extra.ie
 
Allpartied said:
You've obviously never been on the receiving end of such a demand.
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Allpartied said:
I was lucky enough to grow up in a well regulated, council owned rental property. It was our home, and still is my mother's home. We had full secure tenancy for life.
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So neither have you. Good that we've established that.

Now all that remains is your explanation of the difference between being rich and being wealthy.
 

The problem with that - and other - PbP/Hearne articles in the Examiner and The Journal (who appear ro publish them uncritiaclly on a regular basis, presumably because they're being provided free of charge) is that he has this delusion (shared by many others on the left) that there exists a massive pool of developers and unemployed builders in Ireland who simply can't wait to be let loose at a range of social housing sites around the country! It's rather like the Sinn Fein/Soc Dem delusion that there are literally hundreds of unemployed nurses and doctors who just can't wait to join the HSE! Pipe dreams.
 
People seem to forget that the private rental market didn't want to service social housing and affordable housing. They were content to stick to private rentals. Hence the adverts saying saying no rent allowance, hap etc. Looking for job reference's.

But the legislation was changed to force the private market to service that market. Now they want it run the same as public, state housing.

Somehow they can't see why that's a problem.
 
jpd said:
If you are talking about REITs, then they have to pass on their profits to the shareholders - and the shareholders have to pay income tax on that so it is not exactly as taxless as you imply
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Only if the shareholders are Irish tax residents and in the main they are not. Alot of the REIT funds come from foreign pension funds.
 
This is not solely an Irish problem. There was a shift to drive housing as a financial vehicle all over the world. At the same time a shift away from public housing, to outsourcing into the private market. Again all over the world. With local variations.

The Irish economic growth was not solely down to construction either. There has also been a huge shift from agriculture to other industries.

GDP by Sector Quarterly National Accounts Quarter 4 2020 - Central Statistics Office

www.cso.ie
 
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