Govt to do 'everything' to prevent evictions - McEntee

Bass, when you are quoting percentages on "return", are you only including rental income and not capital appreciation?

We haven’t raised the rent in 5 years in a RPZ in Dublin, young family in there don’t want to make life difficult but we’ll probably have to soon but we’ll do the minimum and try to make sure costs are covered etc, we have absolutely no intention of evicting or selling, however I fundamentally disagree with the concept of an eviction ban and taking away the rights of property owners to do what they wish with their property, or giving it to a family member if needed, I wouldn’t do it now, but who knows what circumstances will throw up?

And this pretty much would have been the vast majority of landlords attitudes, now they have to otherwise they’ll fall behind and if they decide to wait until the tenant moves out they can’t raise it to market value, crazy

Most small LL's were similar to @The Spider. Rents were not rised while tenant were insitu often even in cases of ten years or longer although sometimes they might after 5-6. You now have the situation where TS will seriously have to consider the sake of the house when present tenant's leave.

She has raised it that was why it went to 825 it was some odd figure like that. But you cannot see the anomaly.

Yes CGT is a fact if life. However if she leaves the house to someone there is no CGT just inheritance tax.

However she is not ready to do that yet. If she dose not sell it who ever inherits it will sell it.

Yurt you and DT cannot get your head around the fact that a lot LL are exiting because they have properties that are seriously below market rents and the risk is too great to continue.

Easy say it, I didn’t fall for the Fianna Fail bluster at the time in fact I remember being in pubs talking about the inevitable property crash circa 2006, but many did, it was incessant ads on tv “I don’t know what a tracker mortgage is” taxi drivers buying multiple apartments, buying properties in Bulgaria, the Fianna Fáil tent, Tom Parlon telling people to buy, banks giving 100% mortgages people being told by the government to buy something, anything. People buying houses in ghost estates in Cavan and commuting to Dublin. The starter home spiel, buy this and you can sell it on etc.

the point is the accidental landlords then moved on met significant others etc, who also had a property, so no choice but to rent it out, easy take the moral high ground, but no one in their right mind is going to file for bankruptcy if they can avoid it. People were toldleft right and centre that house prices weren’t going down and anyone who rented was an idiot, remember the soft landing being spouted everywhere, there were a few outliers like David McWilliams and Morgan Kelly who were dismissed as cranks, they were laughed at on tv and radio.

But people did suck it up they rented out their negative equity apartments but they always intended to sell when the market was right, that time is now and the government are preventing them doing just that, so yes house prices can go down as well as up, and if they want to give notice and sell well that’s what they should be allowed do.

Oh and plenty of people did lose their jobs and have family breakdowns, the construction sector was devastated, roofers, plumbers, brickiesetc all out of work, the tech sector in Ireland was nowhere near where it is today, jobs everywhere collapsed.

There will be people who don’t pay rent, but I think it could be overblown, interest rates I agree on. The bigger concern here is if there’s an extension of the ban, because the government will have no option, and as Leo said and knows a ban will exacerbate landlords selling up, now if interest rates pull down prices which they could do, but there’s a supply issue so remains to be seen how that’ll play out, but inflation will more than likely push up wages so there’s that. ( it’s what happened in the 70’s high inflation rates ate debt, house were bought for between 2000 and 3000 pounds by the end of the decade that was a tiny amount in comparison to people’s salaries, similar effect happened in the 90’s).

However I do expect there rove a challenge to any legislation especially from vulture funds etc.

Who knows people can only talk of their own experiences as renters and landlords, for instance I rented a great place in Dublin 14 in the mid 2000s for five years and the landlord never put up the rent

Well isn't that another good reason to have the professionals in the market. They were now apparently had such a large portion of the market that they needed to be reigned in......and even though they've increased their proportion since by buying more, you never hear them whinging about RPZs. Even more evidence that pandering to a few amateur part-timers by delaying reforms is inhibiting what the State could really do in terms of solving the housing crisis.

Let the professionals get to 100% and then just bring in appropriate rules and regulations so! No more whinging

The nonsense was in implying that rents only started going up because REITs bought a few properties. I merely turned the nonsense back against the same poster.

How does one square the mental gymnastics? .......... Landlords don't want to put up their prices. But they have to because they are forced to due to RPZs. They are afraid of not achieving market rents. Market rents being set by all other actors in the market. But it is only the REITs who caused the market rent to increase by increasing their prices so they are the bad guys. I'm a good guy landlord who doesn't want to raise my rent. But the REITS put theirs up to inflate the market so now I have to do it or I might be unable to do it. I don't want to charge more and I would never have done it only the other guys charged more so now I have to charge more because if I don't charge more then I might not be able to charge more. Even though I'd prefer it if I didn't charge more ....

There is nothing wrong with trying to maximise what you get via the system rules. But you have to play by all the rules. Not just the ones that suit you.

Yields are going up across markets with increasing interest rates so selling up, putting the money in diversified relatively low risk fixed income ETFs and getting a good yield, and as you say maxing out your pension contributions (getting double bang for your money with tax relief) and drip feeding the money into that by selling the ETF shares as you go along, does seem like it would be more appealing to a lot of people. Too much risk and hassle being introduced in what should be a simple synergy to provide additional accommodation to an under supplied rental market, that's why we are seeing and will continue to see landlords getting out. A lot of people are landlords for long term pension reasons, combined with some future planning for family/dependents which is also being made impossible.

Unfortunately you might find *the ban* 'no-fault' evictions are permanent policy and you won't be able to issue notice to vacate to let your kids use it.

Or worse, tenants move on without telling you and will be subletting it or it will be their kids that are using it for college!

The new order is that you can't evict while they pay the controlled rent.