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The Irish rental market needs more regulation

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    #152
    Donald Trump
    Registered Users Posts: 19,849 ✭✭✭✭Donald Trump


    jrmb wrote: »
    I don't know how it works from the landlord's point of view, but I've had Revenue documents, state savings, bank statements and mobile phone bills all delivered to apartments where I later learned that the landlord wasn't registered.

    Yes, it's unwise to pay in cash, but if I had insisted on a lease, they would just have chosen another tenant.




    I meant two different points. The first one was that a landlord not paying income tax would be leaving themselves open to be reported to Revenue. That the income comes from rent or otherwise is irrelevant. Revenue wouldn't be concerned with him being registered or not. They are only concerned with him not paying tax on income.



    The second point was more in relation to tenants rights. If the landlord unilaterally evicted you by breaking in and dumping your stuff on the grass and claimed that you were never a tenant, or that you were only a tenant for a week etc. then you could still have some proof that you were living there even if you paid cash (if you took him to court etc.)


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    #153
    double jobbing
    Closed Accounts Posts: 322 ✭✭double jobbing


    Eric Cartman wrote: »

    and its always the same "why didn't you pay your rent for 8 months" "the heating was broken for a week last year"

    Ah yes. "It's impossible to find a tradesman these days". The epitaph of every good slumlord.

    The last time I needed an electrician out he was here within 45 minutes after I booked him via local hero or a similar trades site. That was after arguing with the landlord for 3 days to send one out to replace the boiler switch.

    Landlords "cant find a tradesman" because they want the cheapest one, or the handyman masquerading as a tradesman.


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    #154
    lawrencesummers
    Registered Users Posts: 8,588 ✭✭✭lawrencesummers


    steddyeddy wrote: »
    We can disagree there. I think that a provision in the current regulations to allow for banning a landlord from the market would make a lot of them think twice. It actually works quite well where I live now anyway.



    Where do you live?

    Banning landlords sounds draconian, enduring they are tax compliant and audited regularly, have house inspections carried out by local authorities and registered with RTB are all enforceable and can ensure compliance.

    I would be in favour of a tenants deposits being held by the RTB in escrow for Repeat non compliant landlords, but it throws up management issues.


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    #155
    lawrencesummers
    Registered Users Posts: 8,588 ✭✭✭lawrencesummers


    steddyeddy wrote: »
    Yes that's what this landlord did. He also lived there, not advertising it as owner occupied.

    Rent a room scheme covers that in Ireland.


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    #156
    steddyeddy
    Registered Users Posts: 27,564 ✭✭✭✭steddyeddy


    lawrencesummers wrote: »
    Rent a room scheme covers that in Ireland.

    He wasn't registered at all L. This guy's house wasn't up to standard either.


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    #157
    runawaybishop
    Registered Users Posts: 9,507 ✭✭✭runawaybishop


    steddyeddy wrote: »
    He wasn't registered at all L. This guy's house wasn't up to standard either.

    he doesn't need to register and there are no standards for rent a room scheme


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    #158
    steddyeddy
    Registered Users Posts: 27,564 ✭✭✭✭steddyeddy


    runawaybishop wrote: »
    he doesn't need to register and there are no standards for rent a room scheme

    He was taking cash, lying to the taxman and he wasn't registered as living at this address. Trust me this guy wasn't kosher.


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    #159
    runawaybishop
    Registered Users Posts: 9,507 ✭✭✭runawaybishop


    steddyeddy wrote: »
    He was taking cash, lying to the taxman and he wasn't registered as living at this address. Trust me this guy wasn't kosher.

    Just saying, rent a room is tax free up to 14k and no need to register.


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    #160
    steddyeddy
    Registered Users Posts: 27,564 ✭✭✭✭steddyeddy


    runawaybishop wrote: »
    Just saying, rent a room is tax free up to 14k and no need to register.

    Is that a more attractive route for landlords? I lived with problem tenants before and it was a nightmare.


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    #161
    runawaybishop
    Registered Users Posts: 9,507 ✭✭✭runawaybishop


    steddyeddy wrote: »
    Is that a more attractive route for landlords? I lived with problem tenants before and it was a nightmare.

    Yeah, people are basically guests and have little to no rights, but on the flip side they have no obligations.


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    #162
    Enter name here
    Registered Users Posts: 411 ✭✭Enter name here


    Absolutely agree, more regulation urgently needed. Non paying tenants should be bankrupted and thrown on the street. Repeat offenders jailed indefinitely.
    Tenants who damage property should be also jailed.

    The list is endless but yes 100% in agreement, tenants need far far more regulation to control their behaviour and offer protection for the LL.


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    #163
    steddyeddy
    Registered Users Posts: 27,564 ✭✭✭✭steddyeddy


    Enter name here wrote: »
    Absolutely agree, more regulation urgently needed. Non paying tenants should be bankrupted and thrown on the street. Repeat offenders jailed indefinitely.
    Tenants who damage property should be also jailed.

    The list is endless but yes 100% in agreement, tenants need far far more regulation to control their behaviour and offer protection for the LL.

    You OK hun? xxo


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    #164
    curious minds
    Registered Users Posts: 26 ✭curious minds


    Donald Trump.........you never had a mortgage in you life,...

    .101 info for you.... first year of a mortgage repayments is mostly interest payments
    mortgage repayments start off as interest !!!! for the first 10 years of your mortgage around 60% of the amount you pay goes towards the interest
    Initially, the homeowner's payment will be primarily interest, with a small amount of principal included. As the mortgage matures, the principal portion of the payment will increase, and the interest portion will decrease

    https://www.investopedia.com/ask/answer/07/mortgagepayments.as

    Your calculation is fundamentally flawed. First year after you buy , out of 1000 repayment 700 is interest repayment and the 250 is paying off principal.

    So the bank and the taxman cashes in the tenant's payments. ...they make the profit
    Take this in consideration and then recalculate the profit that a landlord would make!

    when you see ridiculous rents take into account that 50% goes to the taxman, a % goes to loan interest repayments, a% goes to make up for the losses and non payments of rent of bad tenants, a% goes towards a previous RTB or WRC award for the tenant, oh and let's not forget the % that needs to go towards upgrading the house after that HAP inspection.

    and there you have ridiculous rents. So how can people say that the LL makes so much money when obviously they are exiting the market hence low supply while demand is constantly increasing with new waves of entitled tenants.

    IF Landlording was such a great business then people would be rushing in the banks to take loans, rent out all the houses they possibly can and cash in on all that great profit.
    But that is not happening ....hence low supply of long term rented accommodation...hence houses sitting empty......hence AirB&B only (because no HAP standards or part4 risks there)...hence foreign investors buying paying cash so they can hold and sell .....all this while people are sleeping on the streets.....


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    #165
    Jjohnrockk
    Registered Users Posts: 164 ✭✭Jjohnrockk


    Blaze420 wrote: »
    Just to play the devils advocate - what did those people do to the property to deserve a withholding of deposits or being ****ed out of the house? Soundbites only paint a picture of poor tenants being at the mercy of a moustache twirling landlord - the reality is they are probably scum who had an eviction a long time coming

    None of the pro tenant used this kind of language for a landlord (Scum in this case). This guy choice of words shows mindset of landlord towards the tenants in general. These very words becomes reality at some stage.


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    #166
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    It makes no economic sense to borrow 200k to buy a house and rent it out considering the taxs you will pay, interest on the loan and other expenses
    You would not make a profit for 15 to 20 years or more
    Every year landlords get old or pass away, the no of rental units fall and rents go up
    Making bedsits illegal was a disaster
    It reduced the no of rental units on the market and increased rents
    I think bewleys went out of business cos they were not making much profit after paying the rent on the cafe
    I wonder will many cafes ever upon again
    considering the restrictions and new rules in place due to covid
    It looks bad to go down a street and see so many empty buildings
    Other country's have rules business rent is based on the revenue of each business not just on the location


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