Too many places for rent???

gazzer

My brother has for the last 3 weeks been trying to get people to rent out two of the bedrooms in his house(he is staying in the other bedroom). He put an ad up in daft.ie and various other letting sites but to date has only had 2 people come out to look at the house.. I was under the impression that there was tons of people looking for places to rent but because of investors selling up there was not as many available properties as there used to be?

The house is brand new, is furnished, has parking, is central to Dublin city centre, the rent he is asking is the going rate for the area (400 euro a month) but yet he is finding it extremely difficult to get tenants..

SkepticOne

gazzer wrote:

My brother has for the last 3 weeks been trying to get people to rent out two of the bedrooms in his house(he is staying in the other bedroom). He put an ad up in daft.ie and various other letting sites but to date has only had 2 people come out to look at the house.. I was under the impression that there was tons of people looking for places to rent but because of investors selling up there was not as many available properties as there used to be?

The house is brand new, is furnished, has parking, is central to Dublin city centre, the rent he is asking is the going rate for the area (400 euro a month) but yet he is finding it extremely difficult to get tenants..

A lot more available to rent since three months ago according to daftwatch:



I would expect there to be a lot of vacent rooms this time of the year with the students on hollidays.

Victor

gazzer wrote:

is central to Dublin city centre

What does that mean? Where exactly?

gazzer

@ Victor.

The house is in Finglas. About 10 minute walk from Broombridge Station

Victor

gazzer wrote:

About 10 minute walk from Broombridge Station

:eek:

mikemac

gazzer wrote:

@ Victor.

The house is in Finglas. About 10 minute walk from Broombridge Station

Broombridge :eek:

I was going to ask if the house was in a dodgy area but I think now you have the answer why it is not renting.

I wouldn't call that central either

gazzer

Its not in Broombridge.. Its about a 10 minute walk away from there(well maybe 15 depending on how fast you walk).. That takes in a lot of places like Royal Canal Park, Cabra, Finglas. The house is in a new estate in Finglas.. Fair enough it is not in the city but it is only about 15/20 minutes on the bus..

Kipperhell

gazzer wrote:

Its not in Broombridge.. Its about a 10 minute walk away from there(well maybe 15 depending on how fast you walk).. That takes in a lot of places like Royal Canal Park, Cabra, Finglas. The house is in a new estate in Finglas.. Fair enough it is not in the city but it is only about 15/20 minutes on the bus..

LOL
Just because you have a place to rent doesn't mean it is rentable. It sounds like a bad location where mostly only locals would rent. The minute you say Finglas you alienate a huge amount of people. Finglas is a baddly designed area with many amenities too far to walk. That is ignoring the obvious social stigma in the area.

TCollins

I would want to be paid to rent in that area

There are a few areas where landlords would want to think of dropping their asking prices. That is one of them.
Also you have the whole student lull going on now.
See how it goes middle of next month.

markpb

Whatever about mentioning Finglas, never utter the B word in an advert Give an exact area (is it Meakstown by any chance?) or a street name and postcode and you might have more luck.

the_syco

Gazzer give us a link to the property in question, and we'll tell you why its not had any luck.

The_Conductor

First of all, and location totally aside, its always going to be much more difficult to try to let bedrooms in a house, than it will be to let a house. The people who rent the bedrooms have no rights whatsoever as tenants, as they are simply living there under licence (with the house-owner still living in the same house). Normally when people are letting rooms in their own house, irrespective of the going rate for rents in the area, they try to simply hit the rent-a-room scheme upper limits, in your brothers case this would be at about 300 per room per month (note- this is inclusive of all bills and all receipts from those renting the two rooms).

Investors selling properties, or indeed renting out properties, tend to be letting or selling the entire property- not simply one or two bedrooms, so you cannot compare renting two bedrooms in your home with Mr. Investor letting a house out down the road.

Also- to be totally honest, it is a bit disengenuous calling Finglas central to Dublin city centre, and as per the above comments, it would be practically disasterous mentioning Broombridge station as a selling point, to potential renters. Of possible interest- how close is it to bus routes to DCU? It would appear that your brother might possibly have better luck targetting students in search of accommodation.

As suggested above, provide a link to the actual property on DAFT, and the helpful folk here will no doubt give you pointers on how to change the ad to help your brother get more interest in his rooms.

S.

TCollins

Hasnt changed a bit

http://homepage.tinet.ie/~tulips/ei/stations/broombridge.htm

daiixi

I've lived in an owner occupier situation once and you couldn't pay me to do it again. That could also be a factor.

dixiefly

300 euro is the MAXIMUM I would expect to pay for a room in this property. In fact, come to think of it, I would pay no more than 250. It does not tick any of the boxes as far as I am concerned as was well highlighted earlier.

1. Location, not great
2. Central Dublin, no way
3. Single room, no other rights
4. Owner also living there

Sounds like the OP's brother is trying to get a few other lads in to pay his mortgage for him. I am glad that people like him are now facing a bit of competition out there and not having poor suckers falling into their laps to pay exorbitrant rents.

Message to OP's brother, offer some VALUE and you will have no problem renting it.

lukegriffen

In fairness to the OP, I've a place for rent in Kimmage for last 2 months and have had virtually no replies. 4 years ago I got about 30 to 40 replies in the first day. And I'm not charging exhorbitant prices, similar price to 4 years ago.
And if you have a look at the Daft Roommate database, there's not many people putting their details up.
So I don't understand how rents are going up. The only thing i can guess is that people prefer to pay top prices to get their own appartment / house, rather than having to house share.

SkepticOne

lukegriffen wrote:

In fairness to the OP, I've a place for rent in Kimmage for last 2 months and have had virtually no replies. 4 years ago I got about 30 to 40 replies in the first day. And I'm not charging exhorbitant prices, similar price to 4 years ago.
And if you have a look at the Daft Roommate database, there's not many people putting their details up.
So I don't understand how rents are going up. The only thing i can guess is that people prefer to pay top prices to get their own appartment / house, rather than having to house share.

A recent daft report for Q1 I think is responsible for the rising rents belief out there. It came out towards the end of Q2 but and so failed to mention the massive rise in rental inventory since Q1. It could well be that landlords are trying to pass on interest rates increases even if this means their property goes unlet. Reports like the daft one only cover asking prices. They won't say whether or not the propert is succesfully rented at those prices. I think unrealistic pricing is partly responsible for the rise in inventory (in addition to seasonal factors).

jmayo

How the hell can you call Finglas central ?
If it was between the canals fair enough.
I suppose in his mind it is more central to city centre than Balbriggan or Navan :rolleyes:
If that is the cr** OPs brother is trying to con prospective tenants with, then no wonder he is not renting the rooms.
Rents I believe are going to decrease because you will have so many properties available, just look at all these apartments coming on stream in city centre. Not every one of them ws bought by FTB. There are a fair few eejits that bought them as investment property.
People will have to try and find someone to partially pay their mortgages, either that or they cut and run.