Bad things & Stuff in Irish Rental Market make me MAD
WOW! Some of those high rental properties are aimed at the corporate client, however I have never seen such a disgusting four poster bed in all my life. I don't get the "four poster bed" appeal.
Few people if any, realise that the four posters are for a canopy which would keep in the heat (along with surrounding curtins on the bes), whiel also to stop the vermon, RATS pissing, ****ting and generally falling on you as they moved in the rafters above yea, Lovely!
I've posted before but regarding how Irish rents are set is intersting, I believe 1 type of landlord is setting the price while the other is following and in fact making the real killing.
Oldschool landlord class (those that bought in the 80s or something like that or inherited..)
Neo-Landlords, those who got in at varuious point salong the mania upswing.
Now it isthose "NEO-Lords" who are using a very large mortage to purchase the property (secured how, who knows... probably lots of lies to the Bank manager as usual... credit union fiddle for deposit etc etc) and simply using the tenants to service the mortgage, not making anything in real profit that inflation wouldn't be gobbling up.
Now the Old-school landlords (the ones with the big tall hats, usually horse back
) they see what the markets at and just hike it up. They are making in some cases 100% pure profit on rental income no doubts.
So the NEO Lords stand to loose a lot unless they can stay in the market and thus become Old-school who might decide to get out now since they may have been in it for 20-30 years, or pre 95-97.
There are varying degrees of these types of landlords, anything after 95-97 I think is NEO Landlord territory, after 2001 SUPER-NEO-Landlord
So here is the league,
OSL - Oldschool Landlord, Pre 1995
NL - Neo Landlord Post 1995
SNL - Super Neo Landlord Post 2001
I would love to know the proportion that would be in this category, I believe some OSL's are also NL's, having had maybe a family home rented since the 80;s then decided to buy a S23 or S50 and so on... I also think the largest proportion in the table ar the NL's and SNL's since the majority of new builds have been in the last 10 years, almost 500,000 it seems.
Well it look like not will homeowners be caught in the chaos but also those who have decided to also enter the higly unregulated & shady Irish rental market that is possibly the largest black economy in the economy after drugs and one of massive tax non compliance.
Lets look at this Agent related listing from daft,
SAMPLE List (uber prices,)
Marked as "Corporate lettings long and short term" on daft, featured agent.
2 Bed, Monkstown €1500
2 Bed, Ballsbridge €1800
2 Bed, Dun Laoghaire €2000
2 Bed, Hanover Quay €2000
2 Bed, Foxrock €2200
2 Bed, Hanover Quay €2250
2 Bed, Stillorgan €2500
2 Bed, Foxrock €2600
2 Bed, Ballsbridge €2700
2 Bed, Foxrock €4000
2 Bed, Foxrock €4000
3 Bed, Monkstown €2750
3 Bed, Ballsbridge €3500
3 Bed, Ballsbridge €3750
3 Bed, Dun Laoghaire €4000
3 Bed, Ballsbridge €4500
3 Bed, Foxrock €8000
4 Bed, Rathmines €3500
4 Bed, Blackrock €8000
5 Bed, Dun Laoghaire €8000
6 Bed, Ballsbridge €10000
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Ok I tried to find a smaple list with the more average market prices that us mere mortals would be more concerned with. However this list illustrates the point, the prices are all rounded to the "100". Rather arbitrary, you see it most clearly when you see all the properties listed by once agent, there is little deviation in clasesses, 1 bed all the same price , 2 beds all the same prices....
Price rounding is annoying. I pointed this out also on another thread here I think.
That a lot of agents who mange properties for clients (fools) usually take a fee or sometime to that effect. I know one of the very agents takes the first rent due as a fee, so people are in fact only getting 11 months rental income in the case of in year leases (how this works for four year leases i have no idea).
These guys also engague in the beligerent whitholding of depostis for arrbitrary reason as a matter of policy. I have been there and I am a good tenant, but clean and time vacation is sometimes jsut not enough for these tooks.
Now call me what you want, but would losing 1 month of your rental income to "agents fees" not wipe out any yield?
Seems to me it would if I understand it at all.
Here are the more usual listings
1 BEDS
1 Bed, Terenure €950
2 BEDS
2 Bed, Blessington €900
2 Bed, Tallaght €1150
2 Bed, Bluebell €1200
2 Bed, Dublin 8 €1200
2 Bed, Knocklyon €1200
2 Bed, Tallaght €1200
2 Bed, Inchicore €1300
2 Bed, Kimmage €1300
2 Bed, Knocklyon €1300
2 Bed, Rathfarnham €1300
2 Bed, Terenure €1600
2 Bed, Sallins €3000
3 BEDS
3 Bed, Newbridge €1150
3 Bed, Lucan €1200
3 Bed, Naas €1200
3 Bed, Lucan €1250
3 Bed, Lucan €1300
3 Bed, Naas €1300
3 Bed, Ballyfermot €1500
3 Bed, Harold's Cross €2000
4 BEDS
4 Bed, Lucan €1300
4 Bed, Knocklyon €1700
4 Bed, Rathfarnham €3500
5 BEDS
5 Bed, Lucan €1500
5 Bed, Templeogue €2200
5 Bed, South Circular Road €2900
5 Bed, Terenure €4000
finally,
1 Bed, Rathgar €550
1 Bed, Ashbourne €800
1 Bed, Christchurch €900
1 Bed, Tallaght €900
1 Bed, Dublin 8 €950
1 Bed, Leixlip €950
1 Bed, Milltown €950
1 Bed, Chapelizod €975
1 Bed, Tallaght €1000
1 Bed, Castleknock €1200
2 BEDS
2 Bed, Leighlinbridge €625
2 Bed, Clondalkin €1100
2 Bed, Lucan €1100
2 Bed, Tallaght €1100
2 Bed, Finglas €1150
2 Bed, Clonee €1200
2 Bed, Clonsilla €1200
2 Bed, East Wall €1200
2 Bed, Finglas €1200
2 Bed, Finglas €1200
2 Bed, Finglas €1200
2 Bed, Santry €1200
3 BEDS
3 Bed, Ballyfermot €1200
3 Bed, Ballyfermot €1200
3 Bed, Clondalkin €1200
3 Bed, Maynooth €1200
3 Bed, Tallaght €1200
3 Bed, Tallaght €1200
3 Bed, Finglas €1250
3 Bed, Killbride €1250
3 Bed, Lucan €1250
3 Bed, Tallaght €1250
3 Bed, Tallaght €1250
3 Bed, Palmerstown €1300
4 BEDS
4 Bed, Clonsilla €1375
4 Bed, Saggart €1450
4 Bed, Chapelizod €1500
4 Bed, Leixlip €1500
4 Bed, Knocklyon €1700
4 Bed, Drumcondra €1800
4 Bed, Glasnevin €1800
4 Bed, Kimmage €1800
4 Bed, Dublin 8 €2000
4 Bed, North Strand €2200
4 Bed, Dublin 2 €2800
5 BEDS
5 Bed, Palmerstown €1500
5 Bed, Maynooth €1800
I think that illustrates ore point in terms of rounding