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Residential to airbnb

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  • Registered Users Posts: 3,256 ✭✭✭Kaisr Sose


    I have rentals and not sure your strategy on not dropping the rent is correct If the market won't pay what you are asking. you have an asset not earning and costing you money.

    Seeing properties on Airbnb and then actually renting for that amount are not the same.

    Can you not say ballpark what your rent is? Someone said there was 5 pages of D1 properties so I doubt yours would be identifiable.

    Alternatively, maybe it's time to sell ? Based on your experience, rents have peaked, demand is not high in the area or there is over supply, you dont want to lower the rent. Perhaps its only down from here if you don't sell?

    I am selling up. Two properties sale agreed, one about to go on market.



  • Registered Users Posts: 14,513 ✭✭✭✭Dav010


    Actually it is. Airbnb hosts can use the dynamic pricing function which alters the price depending on demand and what guests are paying in that area at that time. The price goes up and down, but is a good indicator of what is being paid to hosts.

    The op is right not to post the rent he/she is asking for, there will just be a pile on of people saying how greedy he/she is. Given the restrictions associated with RPZ regs and how the op will be locked in at a lower rental rate for future increases, the op is right to either hold on, short let, or sell. This is one of the unintended consequences of RPZ.



  • Registered Users Posts: 616 ✭✭✭J_1980



    short let agencies like this might be a better option.


    rental market is bit weird now:

    Middle of the road properties are struggling a little in current market. A rated newbuilds achieve top rents, bottom stuff can always be filled with bunkbeds. It’s the E rated electric heater apartments asking 2500 a month that might be difficult to shift. Similarly insanely priced luxury stuff stays vacant for months.



  • Registered Users Posts: 1,457 ✭✭✭SharkMX


    OP a friend of mine is using a service now that leases your house off you for the year and then "airbnbs" it themselves and splits the profits with you. It gets around the 14 days rule somehow because they are taking it for 14 days, not the people who stay in it. Im sure its a bit more nuanced than that though. I'll ask for the company name.

    I wasnt really paying attention but i think they lease it for a tiny amount for a year. They then advertise it or maybe even put it on airbnb or similar. Then They pay you x amount based on what the guests have paid and they organize the cleaning etc and take a cut and the cleaning fee. He seems happy with it anyway.

    Somehow they get around the 14 day rule whether its becaiuse they took it for more than 14 days themsleves or they give it to guests who stay a few days but pay for 14 days. eg if the cost for their 5 night stay was €1000. Then "officially" they pay 1000 for 14 days but only stay 5. I'll find out more.



  • Registered Users Posts: 6,236 ✭✭✭Claw Hammer


    You are either asking too much or the property is not properly presented. Things like fresh paint, good furniture and a proper colour scheme with new appliances make a big difference..



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  • Registered Users Posts: 341 ✭✭DFB-D


    Or possible, they just made up their "own" version to entice property owners & rely on weak enforcement until they get caught and dissappear😂



  • Registered Users Posts: 68,761 ✭✭✭✭L1011


    That isn't a magic workaround for the law.

    The "nuance" is that they haven't been caught yet, because there's bugger all enforcement.



  • Registered Users Posts: 3,256 ✭✭✭Kaisr Sose


    My post on Airbnb rents was in reply to this by OP:

    "Looking on airbnb now can see 2 beds that can be taken for 6k in July. Anyone doing this ?

    It's not possible to know / guarantee €6k can be achieved. If you don't ask for it you won't get it, but the property could end up vacant in July, or rented for considerably less. Airbnb will have its saturation point of supply outstripping demand too.

    I understand about posting actual rent which is why I said ball park. OP has not mentioned selling. It is an option I suggested.



  • Registered Users Posts: 1,457 ✭✭✭SharkMX


    Im not actually familiar with the law myself as i dont have a property to short term let.

    What exactly does the law say on leasing a property and then letting for 14 days at a time whether the guest stays for 14 days or 5 days, but pays for 14 days anyway?



  • Registered Users Posts: 14,513 ✭✭✭✭Dav010


    If the guest pays for 14 days and the host can’t relet during that 14 day period, whether the guest stays all the nights or just 5 is immaterial, the host is letting to only one guest for 14 days. I’m not sure how that could be considered a work around. If the host shortlets contrary to the regulations, it doesn’t matter how smart your friend thinks they are, the only reason they may still be doing it is because they haven’t been caught.



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  • Registered Users Posts: 68,761 ✭✭✭✭L1011


    If there are no other lettings during each 14 day period it's probably fine. That limits you to 26 potential rentals a year, max.

    Making up fake overlapping "14 day" lets is not and it's only working cause there's no enforcement worth mentioning



  • Registered Users Posts: 1,457 ✭✭✭SharkMX


    So what is the actual law on it then?

    Its a company that is providing this service as far as i know. Im playing golf with him next month i'll find out more about it.



  • Registered Users Posts: 1,457 ✭✭✭SharkMX


    Thats my understanding of what he was telling me. It wont be let for 14 days after any guest starts. I think there is a minimum stay.

    But lets say they got €1000 per stay in a 2 bed apartment. Thats €26k per year. Or if they did it by bedroom they could overlap the 14 days whatever way they wanted between separate bedroom lets. Dont know if thats what they are getting or what they are doing. Its just a guess. But if someone else is doing it for you for a cut plus cleaning fees then it seems to me that you could just sit back and count the money without worrying about overholding etc.

    Maybe im thinking about that all wrong because it might be different if a middleman with a lease is renting it out and not the owner. What are the rules for that?



  • Registered Users Posts: 1,457 ✭✭✭SharkMX


    I think he will be ok based on that tbh.

    I think there could be lots more holes picked in that too, so im not surprised there are still plenty of short term lets to be had. The amount of facebook posts and even ads at work that people have for letting theirs or their relatives places tells me that this legislation is not even worth enforcing. Its window dressing really.



  • Registered Users Posts: 68,761 ✭✭✭✭L1011


    You'd be doing very well to actually let it for each period for a grand.

    The middleman doesn't change anything



  • Registered Users Posts: 14,513 ✭✭✭✭Dav010


    There is quite a distance to travel between enactment and enforcement and certainly there is a problem with understaffing/underfunding, there may even be inertia due to all the guest beds currently being taken up by the State to house people coming into the country.

    But I’m interested to hear what interpretation leads you to think your friends will be ok, or what holes you can pick in it. It does seem that enforcement, or lack there of is the main reason it is being ignored. The EU prevented more stringent legislation being enacted, but that may come.



  • Registered Users Posts: 1,457 ✭✭✭SharkMX



    I know for a fact a relative of mine is getting €4k for a 3 bed house in Co. Dublin for less than a week in June when they are going on holidays. They asked my mother would she be around to hand over the key and show the guests around the house if needed.

    So if a house or apartment was available all year I guess there will be times when they get more and times when they get less or even nothing.

    Im sure he has weighed up the pros and cons of renting, selling or airbnbing and this option suited him best. If it were me I would be selling for sure.



  • Registered Users Posts: 290 ✭✭Banzai600


    if you dont need a bolt hole for the future , why not just sell it - put the money into a secure long term investment with An Post or something ?

    just my two cents. you're done, no hassle any longer, unless you wish to keep it for kids for college etc, if you are not based in Dublin for example.



  • Registered Users Posts: 1,457 ✭✭✭SharkMX


    Well when I said 14 days, it should actually be more than 15 days and he is hunky dory.

    I guess also the fact that im staying in a house myself in the summer from an ad I saw and paying cash to the person when i get there might be a sign that not everything is going to be as traceable as people seems to think anymore. Its can easily go back to how it was just over a decade ago. Owner puts up an ad somewhere (probably not airbnb or booking.com or any of the usuals anymore, given they are being targeted specifically and are a bit too good to themselves with their charges) You look up a property for rent. You phone the owner. And you pay them cash. You might send them a deposit to book the place. Its only less than a decade since everyone always did it this way. Im sure we can learn to do it again. I did it last year and doing it again this year. Its not hard.



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  • Registered Users Posts: 2,456 ✭✭✭Citizen  Six




  • Registered Users Posts: 290 ✭✭Banzai600


    i know, but thats an example, you could add a bit in there, and then elsewhere. id be sticking with medium risk at the moment.


    i suggested selling , knowing two ppl who had properties ( who didnt gouge rent, then used for older kids for college in Dub ), they jumped ship, sold for a fair price too and left the market, said the hassle was too much. tricky times all round.



  • Registered Users Posts: 1,457 ✭✭✭SharkMX


    We are getting 4.2% with trading212. I have some money in equities thats doing even better.

    I think the OP should check out all options. There are far better options if they sold having equity tied up in any sort of rental property these days.



  • Registered Users Posts: 14,513 ✭✭✭✭Dav010


    Sorry, I thought you said your friends would be compliant and you could pick holes in the legislation. But what you seem to be saying is you are counting on it not being enforced.

    The guest is not the one who is not in compliance, how the guest pays for it is irrelevant, it’s whether the host is compliant with the legislation that matters. Accepting cash is not picking a hole in the legislation.



  • Registered Users Posts: 4,321 ✭✭✭arctictree


    IMO you can never beat inflation with deposit rates. With equities, you could be lucky but less so if you have a big spread. One of the reasons that AirBnb is profitable is that there is a far bit of work involved. Its not as simple as just let it out and see the cash coming in.



  • Registered Users Posts: 371 ✭✭Iguarantee


    Dublin is a kip.

    Q.E.D. 😊



  • Registered Users Posts: 2,456 ✭✭✭Citizen  Six


    Yeah, I looked at a bunch of Irish options recently and none seemed any good. So went with Trade Republic for their 4% rate. Still not as good as property, if you already have it.



  • Registered Users Posts: 1,457 ✭✭✭SharkMX


    I already explained it to you. I stated one glaring hole in it. Just replying to your link dump. I dont know the ins and outs of how it all works, but im pretty sure at this point that neither do you. Legislation all very wishy washy and has been for many years now, and your link dumps dont chagne the fact that people are and will continue to get around legislation in all sorts of imaginative ways.



  • Registered Users Posts: 68,761 ✭✭✭✭L1011


    What you're describing doesn't get around anything. It's either in compliance and only doing legal medium term rentals, or it's deluding itself that it's legit if they're doing more than is legal



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  • Registered Users Posts: 14,513 ✭✭✭✭Dav010


    Link dump doesn’t have context, I linked the legislation you yourself asked to see.



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