Rent Freeze To Be Extended Beyond 20 July

Peanuts20 said:
here are some examples that were spotted yesterday
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No suggestion they are currently let, perhaps just some naive wannabe landlord who is in for a shock when they get hit with an improvement order. Not saying there aren't poor standards out there, bu the legislation is now quite powerful, and heavily weighted towards the tenant.


Many will point to the current legislation (bar the temp COVID freeze) as penalising landlords in RPZs who do not raise their rents by 4%pa. Not doing so now devalues their property which of course hurts the decent landlords. Those who always extracted every last penny aren't doing too badly. Bear in mind there are still many who never wanted to be landlords, but were trapped by negative equity on their starter home. Now they've moved on, started families but are still weighed with a rental property noose around their necks.
 
Peanuts20 said:
unless you have an unusually low historical rent, i struggle to have any sympathy for any landlord looking to increase their prices
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The problem is that a large number of landlords are stuck with rents that are materially below market because of the way the RPZ regime was introduced and that significantly reduced the capital value of their asset (because a purchaser would also be stuck with that below market rent).
 
moneymakeover said:
Is it in a rent pressure zone?
And if so subject to 4% annual increase?
Even with the change in owner.
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Yes it's in Dublin 1. I believe new owner did enough renovation work to circumvent/satisfy (depending on who you speak with!) the 4% cap.
 

The only solution to that is sell up and re-invest elsewhere. Which seems to be what is happening.
 
AlbacoreA said:
The only solution to that is sell up and re-invest elsewhere
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Well, you can't issue a notice of termination at the moment so that rules out exiting the business for the time being.

But you're right - landlords are voting with their feet and quitting the business in their droves. In the long run, that is not to the advantage of tenants.
 
Sarenco said:
that significantly reduced the capital value of their asset (because a purchaser would also be stuck with that below market rent).
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I hate to give fodder to the masses but only if the buyer is an investor as oppose to a home buyer.
 
Basically at that point you've a decision. Drag the house up to the market rate over time. Or sell and buy another property with better rental income.

Also a property on a low rent. Is likely to be an older house, so will you get any return from a refurbishment? You might be better putting money a refurbishment world cost into a better property, perhaps more modern with a higher rent..

Not that simple maybe. But food for thought.
 
On Thursday last, 16 July, the Minister for Housing announced that he intended to bring a memo to cabinet today to extend the moratoriums on rent increases and evictions that are due to expire today.

But the cabinet meeting scheduled to take place today has been postponed because the Taoiseach is stuck in Brussels.

So what happens now?

Will the Minister extend the moratoriums without cabinet approval or will he let the moratoriums lapse?
 
Rent freeze to End Aug 1.

New legislation proposed banning evictions until January next year.
 
So would I be right in thinking landlords won't be able to give notice until 1st January?
 
So if someone wants/needs to sell their property, they can’t?

Astonishing. Who’d want to be a landlord...
 
You can listen to Eoin O'Broin and me discussing it on Newstalk Breakfast here

Newstalk Breakfast | Newstalk

Newstalk Breakfast brings you all the news you need to set you up for the day – from politics, ...
www.newstalk.com

You lads have all been telling me porkies. If a tenant doesn't pay the rent, it only takes about 30 days to get them out.

Brendan
 
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What about the decent Landlords who also get screwed? I have a good tenant who looks after my property, I am very lucky but I give him rent at 400 euro per month below the market rate. Once/if this area becomes a RPZ I will never be able to get back to market rents based on the 4% increase. Not all landlords are crooks.
 
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