No Deposit Required

gizmo81

Hi was trying to find a Mega Thread for this but couldn't find somewhere appropriate.


IRES advertising no deposit on new properties in The Maple, Beacon South Quarter.

http://www.daft.ie/dublin/apartments-for-rent/sandyford/the-maplebeacon-south-quarter-sandyford-dublin-1738084/

I find this interesting when you read on boards everyday that landlords are requesting 2,3, and upwards months deposit for properties.

Personally, I think the deposit situation seems beneficial to neither party at the moment. My housemate says in the UK that the deposit is held by a third-party.

I'd like to see the landlord and tenant to provide deposits held by a sub-section of the RTB. Both can supply any receipts and deductions made etc.

I guess it's easy for a huge company like IRES to write off the deposit but nonetheless it is interesting, considering they are new properties and finished to a high standard.

wordofwarning

gizmo81 wrote: »

Hi was trying to find a Mega Thread for this but couldn't find somewhere appropriate.


IRES advertising no deposit on new properties in The Maple, Beacon South Quarter.

http://www.daft.ie/dublin/apartments-for-rent/sandyford/the-maplebeacon-south-quarter-sandyford-dublin-1738084/

I find this interesting when you read on boards everyday that landlords are requesting 2,3, and upwards months deposit for properties.

Personally, I think the deposit situation seems beneficial to neither party at the moment. My housemate says in the UK that the deposit is held by a third-party.

I'd like to see the landlord and tenant to provide deposits held by a sub-section of the RTB. Both can supply any receipts and deductions made etc.

I guess it's easy for a huge company like IRES to write off the deposit but nonetheless it is interesting, considering they are new properties and finished to a high standard.

I imagine they don't bother with deposits as:

a) their rents are so high in the first place, that the issues like damages, unpaid rent etc are priced into the rent

b) a months deposit is tiny. If someone destroys a property, a months deposit will not cover it. Or if someone has to be evicted due to not paying rent. It will have to go to the RTB regardless. Plus a lot of tenants in this country see landlords on par Somalian Pirates, so they don't bother paying the final months rent as 'thats what the deposit is for...'

The State have commissed surveys on deposit schemes and they found 99.7% of tenancies end without a deposit dispute. Out of those 0.3% tenancies that end in a dispute. 20% of the deposits withheld were fairly withheld. 40% were partially unfairly withheld and 40% of deposits were completely unfairly withheld. Plus a dodgy landlord, who unfairly withholds a deposit is not likely to be registered with the RTB and put the deposit in an escrow account in the first place. So a deposit protection scheme is just going to protect tenants, who likely would not have an issue in the first place.

IMO a deposit protection scheme in completely unnecessary. If people want it, get banks to do it like in Germany. But giving it to the RTB is a complete no no IMO. I think the RTB wants to run a deposit protection scheme as it realises it is a dysfunctional organisation. It was set up to make dealing with tenancy disputes easier and quicker. But it has not at all. Introducing a tenancy protection scheme which is unneeded, makes it harder to abolish an organisation that is probably beyond reform

4ensic15

How many months rent are they asking for upfront? What if the rent is payable quarterly in advance?

the_syco

"Subject to availability."

So how many of the apartments don't need the deposit?

Picture 7 shows a building site outside, with picture 8 showing a computer generated model.

I'm guessing they're hyping out the place before it's finished, and their friends or family will get the 2 or 3 apartments that don't need the deposit?