I'd think that for RPZ measures to be considered effective they would have to have some degree of impact on taming the increase. There isn't even a blip on that rise corresponding to the introduction of the measures.
I'd think that for RPZ measures to be considered effective they would have to have some degree of impact on taming the increase. There isn't even a blip on that rise corresponding to the introduction of the measures.Very little either way!
These statistics are based on advertised (market) rents, usually new to market.
They are very effective at taming the increase in rents for people who already have leases.they would have to have some degree of impact on taming the increase.
That's just it, the success or otherwise of a measure should be judged on overall impact.They are very effective at taming the increase in rents for people who already have leases.
They are ineffective for new tenants - in fact probably increase market rents even further as more landlords leave the market.
Probably not.I can't imagine this would be a runner for the OP; I'm also not convinced, if challenged, that it would pass the rent controls element.
Not in Swords - there is an army of would be owner occupiers happy to snap up the property to live in and are not concerned about the fact that its been rented.Dont forget that low locked rent will probably effecte the sale price of your property too.
"Market rates" incidentally are pretty vague in Swords - unless you are in one of the 4 or 5 town centre apartment developments which have very clear rents: the outer edges of the town there's literally a 600 euro +/- differential on similar properties.The government and it's agencies have managed to make a total mess of the rental market tbh. The issue is & was always supply. These measures are populist, ineffective, movable goal post panic inducing moves that probably don't serve either tenants well or landlords in the medium term
As for the the OP's issue, I would decorate the property , add something to it and re rent it at market rates. Then I'd seriously consider selling up.
Agreed - but nobody will dare change this right now, because it would start to impact a group of tenants who quietly have benefited from the system for a long time.That's just it, the success or otherwise of a measure should be judged on overall impact.
Absolutely. Evidence plays little or no role in much of government policy, those who shout loudest prevail.Agreed - but nobody will dare change this right now, because it would start to impact a group of tenants who quietly have benefited from the system for a long time.
Since, 11 December 2021, annual rent increases in RPZs are capped in line with the rate of general inflation or 2% a year, whichever is lower. So, if your landlord reviews the rent every 12 months and the rate of general inflation is 1.5%, then your rent can only be increased by a maximum of 1.5%. However, if the rate of general inflation is higher than 2%, for example, 3%, the rent can only be increased by a maximum of 2%.
It is a bit more complicated if your landlord has not reviewed the rent for a number of years, as the 2% cap applies every year. So, for example, if you moved into rented accommodation in December 2016 and the rent hasn’t changed since then, the general inflation rate would apply when calculating the rent increase. This is because the inflation rate between December 2016 and December 2021 was 6.6%, which is lower than the 10% that would apply under the 2% per year condition (2% per year for 5 years = 10%). The RTB’s Rent Pressure Zone calculator applies both of these conditions and calculates the allowable rent increase for you.
Doing the same here. Selling in the right order so loss can be carried to the next property. The fear of SF getting in and telling you you cannot sell unless the tenant stays or they say to those on HAP that they will only pay half the rate or tax the small landlord more. All I see at the moment is money being handed out like smarties before SF gets in and there is nothing in the pot to fix up the mess.I ended up with two properties in RPZ's and both were well below market rate. I sold one in 2020 and made a capital loss from what I paid originally. I am just after going sale agreed on he sale of my second rental and I can offset the gain against the loss because I sold them in the correct order.
I decided I didn't need the hassle anymore and the taxation was ridiculous. So I upgraded my PPR and hope to clear the mortgage and have a few quid in the bank in the not too distant future. I'll be glad to get rid of tax returns, management fees, insurance policies, etc.
This is correct. Before you could increase by 4% but that was changed last year. Obrien brought this in very quickly.Looking at Citizen Information site, it seems to suggest that you can get 2% per year as cumulative.
I can't say I'm familiar with renting laws, it might give you some hope.
https://www.citizensinformation.ie/en/housing/renting_a_home/rent_increases.html
I've spent 25 years renting, and much as I get what you mean (I am one of luck ones who took out a lease in 2012 so rent heavily capped), if there wasn't small landlords, I would be living in my parents boxroom at nearly 50This graph tells you all you need to know about the outrageous rent increases.
Compared to salary development, we should sit about index=112 this year instead 140, and that's being generous already.
Poor landlords and their hardship of RPZ being imposed.
2008 to 2011 rents "only" dropped 20% in one of the worst ever economic downturns to ever occur in a developed economy. Since then they are up 75%.
20% would not bring the OP back to market levels.
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