staggering numbers of rooms for rent

dublinguy2004

I've just been on daft.ie and did a quick search of rooms for rent in Dublin. I found 1800 rooms for less than €500 per month, 350 of which are going for less than €350. It wasn't very long ago that there was a crisis in student accomodation in Dublin and people had to move in in August to ensure a flat for September.
There's a definite drop in rents, but how low will rents go? A lot of people are locked into 1 year leases whilst newcomers to the same apartment complex are paying less. It's very competitive out there in terms of trying to get steady, reliable and well-behaved tenants. I wouldn't like to be little piggy in the middle relying on rental income to pay off an over-inflated mortgage.

soma

I think on one of the other threads I posted that I did a quick search on daft.ie for "2 bed furnished apt, anywhere in dublin" and got 1082 results which is pretty huge.

MorningStar

What way did you do the search exactly? If you covered the whole of county Dublin it's not a big figure at all. Was it sharing or single places.
The mortgages aren't over inflated the intrest rates are very good. The prices paid might have been overinflated but not the mortgage
There was a rental crisis for students last year so do you think it's going to be any different this year? Seasonal rent drops are not unheard of

dalk

Yeah..

well i can certainly remember when looking for a new gaff, you took what you could GET... Full stop. As long as there wasn't a hole in the roof or something, and was vaguely habitable, and you were first in the queue (remember that?) you took it...

I started to notice a change about 2 years ago, when i found it easy to get a nice place for the first time. This summer moved into a new place. For the first time ever had the luxury to pick and choose, and wait until i got exactly what I wanted. No pressure. There were loads of nice places to choose from. And I certainly couldn't afford to pay a mortage on the place i am renting at the moment for a reasonable money...

soma

Last year I had my pick (no time pressure) from several nice apts in dublin 4 - chose a nice one right beside the dart station. Now that was definitely unheard of in the past few years.

The daft search - yes it was all of dublin, I did say that, and no I think 1082 vacant 2 bed apts is still very high.

The students will eat up some of that excess, but a hell of alot of those apartments would be outside the grasp of students seeing as the rents are often over a grand (and often landlords, quite bloody rightly, might not be too hot on renting out their nice apts to a bunch of students!).

Students would really only be able to get their hands on them if the landlords dropped the 'professionals' requirement & perhaps condoned the 'four sharing a 2 bed apt' which is what most students could realistically afford.

dublinguy2004

MorningStar wrote:

What way did you do the search exactly? If you covered the whole of county Dublin it's not a big figure at all. Was it sharing or single places.

That's just for one website, on one particular day and yes, I restricted the search to house sharing. I expect there'd be even more if the search were expanded.

MorningStar wrote:

The mortgages aren't over inflated the intrest rates are very good. The prices paid might have been overinflated but not the mortgage

Elementary my dear Watson...

MorningStar wrote:

There was a rental crisis for students last year so do you think it's going to be any different this year? Seasonal rent drops are not unheard of

There was no rental 'crisis' last year. Demand increases around TCD, UCD and DCU but no student wants to live in west Dublin commuter-land unless they have to/can't afford to. TCD opened their new residential accomodation in Dartry recently and UCD/DCU have opened more on-campus accomodation too (it's big business student accomodation and the universities have wised up to the fact that on-campus accomodation is much more preferable than the service landlords offer). No wonder there's so many accomodation sharing properties.

MorningStar

dublinguy2004 wrote:

That's just for one website, on one particular day and yes, I restricted the search to house sharing. I expect there'd be even more if the search were expanded.

Look at the ads they tend to repeat a lot because they are free. No attention to your ad post it up the next day and the next.

dublinguy2004 wrote:

Elementary my dear Watson...

Well you are being misleading

dublinguy2004 wrote:

There was no rental 'crisis' last year. Demand increases around TCD, UCD and DCU but no student wants to live in west Dublin commuter-land unless they have to/can't afford to. TCD opened their new residential accomodation in Dartry recently and UCD/DCU have opened more on-campus accomodation too (it's big business student accomodation and the universities have wised up to the fact that on-campus accomodation is much more preferable than the service landlords offer). No wonder there's so many accomodation sharing properties.

Well you should tell the colleges not to send around flyers to landlords about how they need local accomadation and stop going on the radio appealing for rental property. Around DCU property was adapted specificvally for students on behalf of DCU. DCU don't make the money landlords do. It doesn't sound like you actually know what has happened. On-campus accomadation is more expensive so who is ripping who off?

dublinguy2004

MorningStar wrote:

Look at the ads they tend to repeat a lot because they are free. No attention to your ad post it up the next day and the next.

If I understood what you just wrote correctly, you are saying that properties are having to be re-advertised: further evidence that it's a tenant's market.

MorningStar wrote:

Well you are being misleading

My intention was never to mislead you. Perhaps you have mislead yourself and read my posting in a different context. I would have thought what I meant was obvious. What I said was 'I wouldn't like to be little piggy in the middle relying on rental income to pay off an over-inflated mortgage.' e.g. I would not like to have recently bought some scutty little one bedroomed apartment in Ashbourne or somewhere looking for a reliable tenant so that I can service a huge mortgage. Such one-beds are surely over-inflated?

MorningStar wrote:

Well you should tell the colleges not to send around flyers to landlords about how they need local accomadation and stop going on the radio appealing for rental property. Around DCU property was adapted specificvally for students on behalf of DCU. DCU don't make the money landlords do. It doesn't sound like you actually know what has happened. On-campus accomadation is more expensive so who is ripping who off?

Why would I tell colleges to stop sending flyers to landlords? As you point out, colleges advertise locally for accomodation and not in commuter land. You accuse me of not actually knowing 'what has happened'; what has happened exactly? On-campus accomodation is generally (not always) cheaper, is way more convenient, has free internet access, is safer, is much more fraternal and should there ever be a problem with noise, parties etc., college security will be along to sort out such problems in no time.

Now I hope I've dealt with all your concerns. I used the daft.ie anecdotal survey to make the suggestion that there are a staggering number of rooms for rent in Dublin. I'm merely asking for comment on this evidence and am not looking to get into yet another nitty-gritty argument with you (we've had one or two already MorningStar).

MorningStar

dublinguy2004 wrote:

If I understood what you just wrote correctly, you are saying that properties are having to be re-advertised: further evidence that it's a tenant's market.

No the dangers of free ads is all. Alot of lazy letting agents use software to automatically resend not a great sign at all. I am just pointing out using this as a source of info it ain't the best.

dublinguy2004 wrote:

My intention was never to mislead you. Perhaps you have mislead yourself and read my posting in a different context. I would have thought what I meant was obvious. What I said was 'I wouldn't like to be little piggy in the middle relying on rental income to pay off an over-inflated mortgage.' e.g. I would not like to have recently bought some scutty little one bedroomed apartment in Ashbourne or somewhere looking for a reliable tenant so that I can service a huge mortgage. Such one-beds are surely over-inflated?

I think you are projecting views based on very loose information. What you described was not factutal either.

dublinguy2004 wrote:

On-campus is geneally (not always) cheaper, is way more convenient, has free internet access, is safer, is much more fraternal and should there ever be a problem with noise, parties etc., college security will be along to sort out such problems in no time.

Campus accomadation is only cheaper if you plan to rent on your own AFAIK and remember

dublinguy2004 wrote:

Now I hope I've dealt with all your concerns. I used the daft.ie anecdotal survey to make the suggestion that there are a staggering number of rooms for rent in Dublin. I'm merely asking for comment on this evidence and am not looking to get into yet another nitty-gritty argument with you (we've had one or two already MorningStar).

My comment on the evidence is it is a useless indicator and extremely misleading . All your comments are how the market is dodgy in various differnt ways and it just sounds like begrudgery.

dublinguy2004

MorningStar wrote:

I think you are projecting views based on very loose information. What you described was not factutal either.

Eh, what am I projecting exactly?

MorningStar wrote:

Campus accomadation is only cheaper if you plan to rent on your own AFAIK and remember

Eh, campus accomodation is generally cheaper and represents much better value for money.

MorningStar wrote:

My comment on the evidence is it is a useless indicator and extremely misleading . All your comments are how the market is dodgy in various differnt ways and it just sounds like begrudgery.

What did you mean in that first sentence? And for you to call me a begrudger! Of what exactly and what do you base your evidence on? Go back to school will you and learn how to construct a sentence and stop annoying everyone with your ridiculous comments.

Victor

Maybe supply is eventually catching up.

Maybe there are lots of double ad.s or old ad.s that haven't been taken down.

Maybe people are away for the summer (both students and people on holidays).

tibor

dublinguy2004 wrote:

On-campus accomodation is generally (not always) cheaper, is way more convenient, has free internet access,

Veering OT, but...
Using DCU as an example, on-campus accomodatoin is much more expensive than equivalent, or better, accomodation in the locality. Internet Access is paid for. And as for convenience, well, not if your convenience includes having guests or visitors past midnight.

Bluehair

tibor wrote:

Veering OT, but...
Using DCU as an example, on-campus accomodatoin is much more expensive than equivalent, or better, accomodation in the locality. Internet Access is paid for. And as for convenience, well, not if your convenience includes having guests or visitors past midnight.

Couldn't aggree more. Would be very difficult to make an arguement for DCU campus accom vs. say sharing a house, on any grounds esp financial (unless it's "my mammy thinks it's safer and she's paying" )

MorningStar

Bluehair wrote:

Couldn't aggree more. Would be very difficult to make an arguement for DCU campus accom vs. say sharing a house, on any grounds esp financial (unless it's "my mammy thinks it's safer and she's paying" )

I thought the same but Dublinguy seems to know better. Maybe UCD, TCD is cheaper anybody know any better I am only sure about DCU?

Dubguy.
Here is a sentence you may understand. The number of ads is a bad guide because the ads are free so there are many repeated ads. This makes daft a bad indicator on how much property is actually available.
Your sudden threads all have a similar theme of how bad the property situation is without any real basis on reliable fact. I can only guess you are trolling

dalk

MorningStar wrote:

The number of ads is a bad guide because the ads are free so there are many repeated ads. This makes daft a bad indicator on how much property is actually available.

My experience with Daft is that there are practically no repeated ads. (If by repeated ads you mean more than one ad for the same property). This is of course my subjective opinion of having used Daft to find accomodation over the last 4-5 years.

Ads are resubmited so that the ad appears closer to the top of searches, thus increasing its likelyhood of being seen. The older submitted ad is not kept. Generally, i have found that ads are generally marked as 'let' the day after they are let (and thus are removed from the database). So when calling landlords/letting agents i very rarely got a reply of that 'property has been let', unlike for example responding to an ad in the Evening Herald, where ads are usually there for 3 days, regardless of whether the property was let on the first evening.

Of course there were ads that i "assumed" were dead, ie those that were submitted more than a week ago and not resubmitted or removed since... I would never bother responding to these ads. So i would use Daft as being a reasonable gauge of how much property is available (at a given time), if you disregard ads, say more than 10 days old.

Over the last decade i have found it steadily easier to source and rent property. My desired standard of accomodation hasnt increased vastly over those years. So my (subjective) opinion is that, either there is more rental accommodation available, i have somehow become efficient at sourcing property, i seem to have the happy coincidence of looking for property when there is a glut, or i have become a more attractive tenant to a landlord...

Personally, i think its because there is a lot more rental accommodation available...

MorningStar

dalk wrote:

My experience with Daft is that there are practically no repeated ads. (If by repeated ads you mean more than one ad for the same property). This is of course my subjective opinion of having used Daft to find accomodation over the last 4-5 years.
.

As a landlord who used the site I found it less and less effective. Letting agents really started abusing the free nature. As you said anything that was old (a week) people ignored hence agents started repeating ads and using automatic software. If you use a narrower search it is obvious. MInd you that was 6 months ago when I finally decided to stop using it.
THere are more rental properties but I still have no problem letting anything. I thing shared houses have always had problems. People move out and have leases so they end up looking for a new flatmate and people are less likely to move in with a stranger. This hasn't changed. The room to rent also increase that market.
All I was saying is it is a very narrow view to take one free ad site and use it to test the market or comment on it without looking at other factors

copacetic

MorningStar wrote:

As a landlord who used the site I found it less and less effective. Letting agents really started abusing the free nature. As you said anything that was old (a week) people ignored hence agents started repeating ads and using automatic software. If you use a narrower search it is obvious. MInd you that was 6 months ago when I finally decided to stop using it.
THere are more rental properties but I still have no problem letting anything. I thing shared houses have always had problems. People move out and have leases so they end up looking for a new flatmate and people are less likely to move in with a stranger. This hasn't changed. The room to rent also increase that market.
All I was saying is it is a very narrow view to take one free ad site and use it to test the market or comment on it without looking at other factors

I find that there are a lot of repeated ads, whenever I had a room I always put in up a few times a day to keep it at the top of the page. It was the best way to get people to see it.
also no-one ever goes on and takes their ad off, it just moves to the bottom of the pile and people stop seeing it...