Landlord evictions 1000 in 2nd Quarter due to selling up

"If this trend continues"

We've had this for decades.

What's more it's exactly what people asked for. Small Landlords to leave the market. Well they are. Job done.

Sky news was showing a queue for viewing a house for rent in Dublin it went practically the length of the street

700 places on daft aptly named site in a country of 5m

It a world record AFAIK

The mass exit is market driven but new RTB annual registration rules and more to come will continues to scare the hated small investor.

It has far more to do with trying to cash out at the "top".

It is ultimately better to flush those out that can't manage the regulations anyway rather than having the government keep pandering to them at the expense of society

It should have been done long ago rather than continued pandering and supports keeping them there.

If they brought in an 80% CGT on investment residential property, we'd see how many of those amateur landlords currently selling up suddenly forget about these terrible regulations that are "forcing" them to sell

So no sympathy for the queues and people trying to get a place you selfish twat

Hmmm. Logic apparently isn't your strong point. That is a fairly absurd conclusion. (Even ignoring the irony that many amateur landlords are propped up by social welfare payments that cover most of their otherwise unsustainable rents)

Can you explain to me the necessity to society of you, as a specific individual, owning and collecting rent on a specific house is, as opposed to say Flinty997 (by virtue of being the second poster) owning and renting out that same house in addition to any they might already own?

In what world is 100 people each doing one unit as a sideline better than one person doing the 100 units full time? Do you think that doors would be cheaper if we had one carpenter making 100 doors a week, or if we had 100 amateurs making one door a week as a sideline?

There appears to be a marked lack of education across a section of "amateur landlords".

Nobody owes you a living. Make your own choices and get up off your arse and work for it

But it is true

Between taxation of rental income and the absolutely ridiculous rules which totally put them on the back foot, the government have just hastened the point of diminishing returns for landlords, who are and will continue to exit in droves. There will always be a need for rental properties and so now tenants will just have to rent from the big investment fund companies, who’ll charge what they like. Well done to the government another wonderful intention which has had the direct opposite effect by poor execution. Idiots.

Now you didn't. You attempted to put forward a strawman argument under the false dichotomy that the only alternatives were either owning+social welfare or loads of smalltime amateur landlords.

There are also different forms of social housing btw. It can range from cost-price housing to people paying a peppercorn rent to be housed by the State

It is so unfair and unexpected that they make landlords subject to income tax on their income. I think landlords should be exempt from income tax. And bus drivers too. Not train drivers though. That would be silly. Maybe also solicitors shouldn't have to pay income tax on their income. But barristers definitely should.

The reason they outsourced it to the private market was to save the govt money.

The private market never wanted the business. Which is why they changed the legislation to force the private market to take it on.

You can see the arrears the local authorities have accumulated.

The big investment landlords also mostly avoid the lower end of the market. No one wants that business. Which means the majority of it is with smaller landlords. Which are leaving the market. The big investment landlords are even more profit driven than the smaller ones.

The market is exactly as people (like yourself) wanted it to be. The focus is still on driving supply out of the market. Then wondering why it's so dysfunctional.

Hmmm. So how did they "force" the private sector to take it on, yet the "big investment landlords" were able to avoid it? I'd like to see that legislation you refer to if you can provide a link.

The big investment landlords may indeed not want sh1tty one-off in in-homogeneous random properties that are inefficient to manage.

As I've stated on here before, I'd call for the government to stop subsidizing private landlords and artificially inflating the market. Just turn off the taps and let the market find its level based on what people can afford. And also put in a properly enforced vacant property tax.

You have a great imagination there - convincing yourself of how I wanted the market to be!

Time to get popcorn and watch it play out.

Many are leaving before SF get in and lock them into the market.

Where have SF suggested that's what they intend to do?

Plenty of them on here that don't really appear to be able to cope with some regulations. I'm sure plenty can cope, but those aren't the ones constantly whinging on social media about it.

In what other industry would society be expected to pander to people who can't manage it?

Loads of threads too from tenants with stories of their landlords either doing illegal things or doing basic things incorrectly

Try to comprehend that there can be an in-between between an accidental landlord with no knowledge of how things work and a "big megacorp". If you try hard, you might be able to do it

In other industries they might not crib on social media but instead they do it to politicians at the golf course or on the deck of some yacht and they end up getting what they want.

The underlying issue is the overreliance on owner-occupation as the primary mode of accommodation in Ireland for too long. It works most of the time very well, however sometimes as now, the system fails. Currently interest rates are still extremely low but at the same time lending restrictions are still in place from the time of the financial crisis. This means you have a lot of people now trying to rent in an underdeveloped rental market dominated by small amateur landlords and therefore not fit for purpose.

plenty in the government it seems...

Most landlords in Ireland don't play golf and have never been near a yacht. Conctituency clinics, funerals, football matches, pints in a pub is where they have the ear of their TD's. Senators and Councillors. And that there's so many Oireachtas members with private property, or who aspire to own property or who have mates who own property, has a bigger influence as well.

The bigger landlords and companies with 100+ properties here are the ones to watch when it comes to serious legislation, selling land at discount prices and generally making the taxpayer pay for their profits.

It's a bit of a mess where plenty of it could be sorted with legislation, both reform of existing and introducing new rules. This along with proper reform and control and proper implementation of all rules and regulations would help a lot going forward. Doubtful it will happen.

Yes, not not enough being built is a problem, but that is also a symptom of the historic over-reliance on owner-occupancy as the main means of accommodation. When the financial landscape shifts, as it has done, money from people taking out mortgages is reduced causing fewer units to be built and there isn't the cushion from a healthy rental sector to take up the slack.

Come back to me in a few months when the food inflation starts to bite. lol

Historically we built social housing. Imagine the private rental capacity that would be freed up if not taken up by social housing.

If you think we should shift to a model of long term renting instead of buying. How would you attract people to invest in that?

Wrong thread genius. Has been explained to you before.