New rental rules .... so bad for all

Not as far as I know

Isnt this new legislation to come in before Christmas to make the entire country an RPZ also?

Will that have consequences for the current way you do it ?

There was talk from the minister a couple of months ago about it.

Hes probably keeping it quiet at this point just to stop people escaping from it before he pulls the trigger.

Well they have been messing with it for the better part of a decade now and keep making it worse. in fact they have never made it better - just worse, every time. So no they clearly have learned nothing and are not likely to ever learn anything either.

It has been announced that the whole country will be an RPZ under the new legislation.

i did a rent review last week, I had no intention of reviewing rent until my tenants moved on but now that it is decided to keep rent increases below inflation (so imposing a rent reduction in real terms) there is really very little option but to increase rent at every opportunity. Indefinite tenancies and rent reducing (in real terms) each year - maybe this is the solution for first time buyers complaining they are unable to afford a house. Why buy when you can just live indefinitely in someone else's property and pay less and less each year for it?

But they will bring it in before you get a chance to react. Christmas week would be my guess. They have used that as cover before.

Then you wont be able to retrospectively give notice to increase the rent.

If you are going to do that i think you need to do it before they suddenly change it overnight.

O'Brien knows this is exactly what will happen. He is only delighted for you to appear the scum and him to appear the savior.

Just did a rent review with my tenants. Non RPZ. Put it up a small amount to start in March 2022 to give plenty of notice. Still slightly under market rate as nod to great tenants. Would not have bothered changing it at all if the government did not keep changing the rules.

There’s a piece about rents in the IT today and Ronan Lyons is quoted making a very similar point:

“Some will react to these trends with an understandable, if misplaced, search for easy solutions. A favourite is rent controls,” Ronan Lyons, economist at Trinity College Dublin and author of the Daft report, said.
“But what this report covers is not the average rent paid by sitting tenants – who benefit from rent controls – but the average rent paid by new tenants, who invariably are not covered by such controls,” he said.
“ While I can see the appeal of solving prices by simply making it illegal for prices to rise, it does nothing to address the reason why prices are rising – the lack of rental accommodation,” Mr Lyons said.

JimmyVik "Take a bow all the housing ministers since and including Simon Coveny, who started it all". Lets not forget Alan Kelly who introduced the first measures in 2015. And of course it was to tackle lack of housing supply which came about in part due to the government abolishing bedsits in 2013.

You're right that a lot of rents are very high. The argument being made here is that the biggest reason for high rents is the lack of supply and this will be exacerbated by the current measures. Right now small landlords are leaving the rental sector en masse. They don't make as much money as the Twitter narrative about landlords would suggest and they can sell their properties for a good price in the current market. What's more the risks of being a landlord have increased because it's so difficult to remove non-paying tenants. The new rules will make this even harder. Landlords who charge lower rents have a bigger incentive to sell (the difference between the income and the sale price is greater) and, thanks to the new rules, they now have no way of increasing their rents in real terms. So the cheapest rental properties are the ones most likely to be sold off. TLDR: thanks to these new regulations, not only will supply be further reduced but low-cost rental supply in particular will be hit.

Well said. Most people just look a the headline details and assume being a landlord is the secret ticket to millions. From a return on investment standpoint being an individual small time landlord is prob one of the lower returning places to deploy your capital.

for context i am a happy renter all my life (38 now) and have never owned a property.

Amazing finally funds will have to sell the units they are holding on to. Some are best apartments in town. 2% return vs 6% returns Funds now say>>