RPZs Extended, Non-RPZ Landlords Take Note

Graham

This might be of particular interest to landlords currently outside of RPZs.

From the Indo this afternoon:

THE government has decided to extend Rent Pressure Zones (RPZs) until the end of 2021.

He said: "The qualification criteria of having to be above the national average needs to change for outside of Dublin."

https://www.independent.ie/irish-news/politics/government-decides-to-extend-rent-pressure-zones-until-end-of-2021-37976203.html

the_syco

The moment the RPZ goes, any landlords who got screwed because they charged tenants low rents before the implantation of the RPZ will be hiking their rents up to the market rates.

someday2010

the_syco wrote: »

The moment the RPZ goes, any landlords who got screwed because they charged tenants low rents before the implantation of the RPZ will be hiking their rents up to the market rates.

Little chance with the loony left gaining more power and influence by the day and the country’s sorrowful slide towards extreme left wing socialism. You will be lucky to still have ownership rights by 2021!

overkill602

They have had little or no impact because of lack of enforcement its the high tax, extra admin and threat of banning evictions that has LLs leaving

Dav010

overkill602 wrote: »

They have had little or no impact because of lack of enforcement its the high tax, extra admin and threat of banning evictions that has LLs leaving

Actually it seems to have had a significant impact, rents in Dublin have risen 14%. I’m sure that is not the result they were looking for.

Wanderer78

someday2010 wrote:

Little chance with the loony left gaining more power and influence by the day and the country’s sorrowful slide towards extreme left wing socialism. You will be lucky to still have ownership rights by 2021!

Hahaha these kinna posts are always funny, extreme left wing socialism, do people even know what these terns mean? Neoliberalism and neoclassical theory are still in full control, I wouldn't be worrying too much about the socialists, I'd be more concerned about this ideology!

Ray Palmer

Didn't they say the RPZs would not be extended after 3 years? It is even still up saying that on the Rebuilding Ireland website
http://rebuildingireland.ie/news/faq-rent-pressure-zones/

ELM327

Wanderer78 wrote: »

Hahaha these kinna posts are always funny, extreme left wing socialism, do people even know what these terns mean? Neoliberalism and neoclassical theory are still in full control, I wouldn't be worrying too much about the socialists, I'd be more concerned about this ideology!

What is neoliberal or capitalist about RPZ or any form of market interference, which is the subject of this thread?

ELM327

Ray Palmer wrote: »

Didn't they say the RPZs would not be extended after 3 years? It is even still up saying that on the Rebuilding Ireland website
http://rebuildingireland.ie/news/faq-rent-pressure-zones/

Yes
At this point all it takes is a landlord or REIT with deep enough pockets to mount a constitutional challenge.

Browney7

someday2010 wrote: »

Little chance with the loony left gaining more power and influence by the day and the country’s sorrowful slide towards extreme left wing socialism. You will be lucky to still have ownership rights by 2021!

I wouldn't say CGT exemptions for anyone who bought property in 2012 to 2014 and a general pursuit of policies that have fuelled the doubling of property prices in the past 6 years to rescue bank balance sheets to be consistent with a socialist utopia

GGTrek

Ray Palmer wrote: »

Didn't they say the RPZs would not be extended after 3 years? It is even still up saying that on the Rebuilding Ireland website
http://rebuildingireland.ie/news/faq-rent-pressure-zones/

Do you actually believe any word coming out of a lying politician or a bureaucrat?

GGTrek

ELM327 wrote: »

Yes
At this point all it takes is a landlord or REIT with deep enough pockets to mount a constitutional challenge.

REITs will not do it, since they are in bed with the govvie.

the_syco

GGTrek wrote: »

REITs will not do it, since they are in bed with the govvie.

Maybe if some loon changes the tax that the REITs get?

Ray Palmer

GGTrek wrote: »

Ray Palmer wrote: »

Didn't they say the RPZs would not be extended after 3 years? It is even still up saying that on the Rebuilding Ireland website
http://rebuildingireland.ie/news/faq-rent-pressure-zones/

Do you actually believe any word coming out of a lying politician or a bureaucrat?

Not particularly but in this case it was the law that it could not be extended. It's on legal shaky ground to start with and didn't think they would push it further. The government could br held liable for compensation if it is found to be unconstitutional. No surprises there that government continue to do something knowing this like the did with medical cards and care home costs.

3DataModem

This will require a legislation change, right? The legislation does not allow for extension past 3 years.

Making a change like this 8 months prior is insane... landlords who might have expected to be able to increase rents to market rate (and maybe renewed a part 4 rather than not renew) are now restricted in a way that the legislation says they won't.

This is horrible intervention. I'm not against RPZ, but this peicemeal scattergun bull**** is going to drive otherwise honest landlords into illegal short lets and illegal increases.

drongadoir

3DataModem wrote: »

This will require a legislation change, right? The legislation does not allow for extension past 3 years.

Making a change like this 8 months prior is insane... landlords who might have expected to be able to increase rents to market rate (and maybe renewed a part 4 rather than not renew) are now restricted in a way that the legislation says they won't.

This is horrible intervention. I'm not against RPZ, but this peicemeal scattergun bull**** is going to drive otherwise honest landlords into illegal short lets and illegal increases.

Yup, and all of these negative effects would have been forecast by the Gov depts yet they went ahead with it.

circular flexing

3DataModem wrote: »

This will require a legislation change, right? The legislation does not allow for extension past 3 years.

Making a change like this 8 months prior is insane... landlords who might have expected to be able to increase rents to market rate (and maybe renewed a part 4 rather than not renew) are now restricted in a way that the legislation says they won't.

This is horrible intervention. I'm not against RPZ, but this peicemeal scattergun bull**** is going to drive otherwise honest landlords into illegal short lets and illegal increases.

I don't know why anyone would think that RPZs were ever going away - despite what the Govt said.

My tenants are leaving at the end of this month - can't wait to be rid of the house even though it might make more financial sense to hold on to it.