Air BnB to be effectively banned for non PPR

pgj2015

what if you just use a site like booking.com to rent your house short term?

Graham

godtabh wrote: »

Interference in the market has worked so well so far. I’m sure this will be brilliant!

This strikes me more as an effort to cancel interference (from holiday lettings) in the residential market.

Graham

pgj2015 wrote: »

what if you just use a site like booking.com to rent your house short term?

I wouldn't expect any legislation will be AirBnB specific. Much more likely it will apply to all operators.

RasTa

This is good news imo and I use airbnb for the past 4 years but just renting out one room in the house.

However this will be easy to circumvent if you want to rent out the whole house

Eric Cartman

This won't make a dent on anything, most of these properties will either be sold for >700k because most Airbnb''s are high end properties or they'll lie dormant if theres no mortgage.

This will not help Dublin rent prices or availability of property in the <500k bracket. But sure people want the 9% hospitality vat rate gone too, so hotel rooms in Dublin will just increase in price again and the 'homeless crisis' will rage on.

s7ryf3925pivug

Good for houses in pressured areas like Dublin. Bad for dedicated holiday homes in remote areas, where they're likely to stay empty without short term rentals.

Graham

Eric Cartman wrote: »

This won't make a dent on anything, most of these properties will either be sold for >700k because most Airbnb''s are high end properties

I suspect return to the residential market in any form is the desired outcome here.

Eric Cartman wrote: »

or they'll lie dormant if theres no mortgage.

I've seen that said a few times. I can't see many investors opting for a long-term negative yield.

Eric Cartman wrote: »

This will not help Dublin rent prices or availability of property in the <500k bracket.

1,000+ properties (even high end ones) in prime locations would be very appealing for professionals sharing.

Tiana Petite Vender wrote: »

Good for houses in pressured areas like Dublin. Bad for dedicated holiday homes in remote areas, where they're likely to stay empty without short term rentals.

Indication are this will initially apply to Dublin and/or Rent Pressure Zones.

Ronan|Raven

Pkiernan wrote: »

Hopefully Air BnB will challenge this in the Courts. They have the financial heft to do so.

LOL what ?

L1011

Ginger83 wrote: »

Will drive more to sell.

Which increases supply for sale. Which is part of what is wanted.

awec

This is great news and long overdue.

awec

Twenty Grand wrote: »

Yep, and you'll pay 50% of that in tax. So you'll be out of pocket by €150 a month in mortgage for a house you can't live in and unknown euro a month if your tenants decide not to bother paying rent, or to damage the house.

There's plenty of threads here showing that renting houses is not the money maker that people think.

Yea?

I wonder what mortgage was on his property and how much of that he paid himself vs someone else paying it for him. I wonder what the value now is of his property vs his own outlay and investment of his own funds.

awec

Pkiernan wrote: »

Hopefully Air BnB will challenge this in the Courts. They have the financial heft to do so.

1. They'd lose, handily.

2. This law does not ban the usage that AirBnB is actually intended for.

Ginger83

L1011 wrote: »

Which increases supply for sale. Which is part of what is wanted.

Which will help renters how?

Graham

Ginger83 wrote: »

Which will help renters how?

What gives you the impression any legislation is aimed at solely helping renters?

Despite protests to the contrary, it is likely a large proportion of currently AirBnB'd properties in prime locations will return to the rental market one way or another.

Fann Linn

Ginger83 wrote: »

Which will help renters how?

Eventually any increase in housing supply can only benefit renters.

titan18

Graham wrote:

1,000+ properties (even high end ones) in prime locations would be very appealing for professionals sharing.

Except they won't go back up for rent most likely so it doesn't help there at all.

Fann Linn

titan18 wrote: »

Except they won't go back up for rent most likely so it doesn't help there at all.

Why not?

awec

titan18 wrote: »

Except they won't go back up for rent most likely so it doesn't help there at all.

They will go somewhere.

No matter if they are sold, or rented out to proper tenants, this is far better than the current situation where they are basically non-existent as far as housing in Ireland is concerned.

The spin on this is bizarre if not amusing, especially this faux concern for Ireland's tourism industry. This is absolutely brilliant news for everyone except landlords who are making easy money while breaching planning, and who are upset that their gravy train is coming to an end. It is long overdue, AirBnB was never intended for this purpose.

Eric Cartman

Ginger83 wrote: »

Which will help renters how?

It won't, the majority of these properties are all >3000 a month executive rentals anyway. The idea of this is to increase supply to ease the 'homeless crisis' of these 1000 or so properties on Airbnb I would take a very well educated guess in saying less than 100 of them would have been affordable to somebody on less than 75k a year anyway.

One client I work for has about 30 properties in Dublin on AirBNB , every single one of them is worth over a million, some would even go as far as 3-4 million, these are the type of properties most often on Airbnb, it might mean fionnan living in foxrock can move back to the city , but jacinta on HAP or John and Susan working for 30k each won't see any improvement in availability.

awec

Eric Cartman wrote: »

It won't, the majority of these properties are all >3000 a month executive rentals anyway. The idea of this is to increase supply to ease the 'homeless crisis' of these 1000 or so properties on Airbnb I would take a very well educated guess in saying less than 100 of them would have been affordable to somebody on less than 75k a year anyway.

One client I work for has about 30 properties in Dublin on AirBNB , every single one of them is worth over a million, some would even go as far as 3-4 million, these are the type of properties most often on Airbnb, it might mean fionnan living in foxrock can move back to the city , but jacinta on HAP or John and Susan working for 30k each won't see any improvement in availability.

Great, so the executives will no longer need to rent out other properties, and so on and so forth.

Where is the downside here?

Eric Cartman

awec wrote: »

Great, so the executives will no longer need to rent out other properties, and so on and so forth.

Where is the downside here?

those executives are already renting executive properties, they might just have a shorter commute. not like the properties they are leaving are affordable either. once you go 6 legs down the chain it might mean that some people who can just about afford to live in greystones have an easier time finding a place but thats about it.

awec

Eric Cartman wrote: »

those executives are already renting executive properties, they might just have a shorter commute. not like the properties they are leaving are affordable either. once you go 6 legs down the chain it might mean that some people who can just about afford to live in greystones have an easier time finding a place but thats about it.

No matter how much you try to spin this, bringing these properties back onto the market that they are intended for is a positive thing.

Time will tell, whether or not these properties on AirBnB are all million euro + properties in Foxrock or whether, as I suspect, you've just made this up entirely.

The only losers here are landlords breaching planning, and for those people I have zero sympathy.

titan18

Fann Linn wrote: »

Why not?

Cos what idiot would actually rent out in the current climate if they could sell. The government have made it very difficult to be a small scale landlord so why the hell would anyone continue to do it if they had any other option.

Likeliest thing is these sit idle. Best case is the person rents them out to the likes of Google, Facebook etc who can put executives in them short term or use them to house visitors coming over for their companies from the US.

awec

titan18 wrote: »

Cos what idiot would actually rent out in the current climate if they could sell. The government have made it very difficult to be a small scale landlord so why the hell would anyone continue to do it if they had any other option.

Cool, so sell it. Still better than AirBnB.

titan18

awec wrote: »

Cool, so sell it. Still better than AirBnB.

Are there many potential buyers for high end properties in Dublin? Considering house prices are stagnating or decreasing at that end, it's likely there's not.

Eric Cartman

awec wrote: »

No matter how much you try to spin this, bringing these properties back onto the market that they are intended for is a positive thing.

Time will tell, whether or not these properties on AirBnB are all million euro + properties in Foxrock or whether, as I suspect, you've just made this up entirely.

The only losers here are landlords breaching planning, and for those people I have zero sympathy.

and the hundreds of people employed by airBNB landlords cleaning, doing linen service, maintenance, check ins .

the tourist attractions and business conferences that won't get attendees because hotel rooms are too expensive or simply unavailable.

awec

titan18 wrote: »

Are there many potential buyers for high end properties in Dublin? Considering house prices are stagnating or decreasing at that end, it's likely there's not.

I’m sure it’ll be sold

awec

Eric Cartman wrote: »

and the hundreds of people employed by airBNB landlords cleaning, doing linen service, maintenance, check ins .

the tourist attractions and business conferences that won't get attendees because hotel rooms are too expensive or simply unavailable.

Ah yes, the old tourism concern. This is my favourite one.

titan18

Eric Cartman wrote: »

and the hundreds of people employed by airBNB landlords cleaning, doing linen service, maintenance, check ins .

the tourist attractions and business conferences that won't get attendees because hotel rooms are too expensive or simply unavailable.

Drop in taxes collected from the government too if all you've got left in the landlord space are REITs and tourism drops.

Eric Cartman

titan18 wrote: »

Are there many potential buyers for high end properties in Dublin? Considering house prices are stagnating or decreasing at that end, it's likely there's not.

900,000 (90%) , 4x income with an exemption , 225,000 a year combined income for a household and a 100k deposit needed.

are there 900 odd couples with that kind of income looking to buy in Dublin who have decided for whatever reason to slum it in an affordable rental until now ?

I think not.