If you sell, is it possible that another landlord could buy the property?
Yep, but I guess but they would have some of the same issues to consider before buying that are pushing me out of the market.
Yes of course, but there are others who are in a position to buy with large deposits that are better generating an income from record breaking rents against sitting in deposit accounts with little interest being generated.
Im somewhat confused as to how the daft.e rental figures are a red herring. If the vast majority of landlords are stuck on rents below market average value, then surely the daft.ie sample, albeit a small one, would encompass a sample that reflects the vast majority of rents being charged by landlords?
The report states it identifies 54 markets (25 in Dublin, four other cities and 25 other counties.
It seems nearly improbable that daft.ie report doesn't reflect the prices of the vast majority of landlords.
Yes from my experience this is frequently happening. But not just a new higher rent, but a rent which far exceeds the 4% limit.So what I get from that is landlord sets a price upon which a tenant agrees to pay. Upon the tenant leaving, the landlord sets a new higher rent for new prospective tenant?
Im failing to see how this equates to Minister Murphy actively pushing landlords out of the market.
For me to stay in this market, I would like to see the minister extend the capital gains tax incentive beyond 7 years,
provide assurances that the ability to offset investment mortgage interest will not be restricted again,
allow LPT to be offset against rental profits
allow the free market to dictate rents,
Extending tax relief and incentives to property investors as you propose is interference in the free market.
Im not seeing where landlords are being pushed out. Perhaps in your own circumstance you feel it is not worthwhile being a landlord, but that is your choice. But in the main, if rents are rising, its hard to see how landlords in general would want to leave.
I don't think anybody seriously disputes that there has been a net reduction in the number of residential landlords in recent years. The RTB recently expressed concern at the reduction in the number of registered tenancies. The IPAV estimated last year that there are two landlords leaving the market for every one that enters. Daft suggests that the number of rental properties on the market is at an all time low.
Yes I would. For one there are always many variables at play as to what any other property can be rented out at, secondly I am not motivated by what anyone else is receiving, thirdly life is too short to be looking at always maximising my return. As I said, if you're in the market you should know what numbers work for you and that is all that should be important - not what anybody else is getting.@Ceist Beag
Would you be happy to offer your property to a new, unknown tenant at substantially below market rent? That's what the regulations will now force you to do if and when your current tenant leaves.
Obviously everybody's tax situation is different but in my case I only got to keep ~40% of any net rental profit (having regard for my marginal tax rate and the various non-deductible expenses). For me, the (post-tax) reward was just too slim to justify the risk involved in continuing in the business.
Yes I would. For one there are always many variables at play as to what any other property can be rented out at, secondly I am not motivated by what anyone else is receiving, thirdly life is too short to be looking at always maximising my return. As I said, if you're in the market you should know what numbers work for you and that is all that should be important - not what anybody else is getting.
I think the bigger factor might be the imbalance in any dispute between landlords and tenants and the difficulty of getting rid of bad tenants if you are unlucky enough to end up with some.
Investors entered the market having "done their numbers" eg rent is expected
Fair enough.Yes I would. For one there are always many variables at play as to what any other property can be rented out at, secondly I am not motivated by what anyone else is receiving, thirdly life is too short to be looking at always maximising my return. As I said, if you're in the market you should know what numbers work for you and that is all that should be important - not what anybody else is getting.
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