With rent increasing is now the time to buy a 2nd property from the bank

[Tank]

@mikehunt

We’ll worry how to pay for it all later.

What an idiot.

[Tank]

Good post. Are you thinking about Drogheda with the bat survey?

[Locke]

So you fell 9 and a half floors?

@Massey

Yeah,I was nearly killed there myself one day,by the steelfixers.Almost fell 10 floors.I got some fright.

[gilgamboa]

@briantinnion

I would have thought long term leases on residential properties are extremely rare. Unless it’s a leasehold interest in an apartment or something like that which people seem to view the same as freehold.

Agreed. But commercial tenancies normally involve paying a key money day 1 which entitled to you a lease for 20 years or whatever. With renewal rights. Never heard of it in Ireland for residential.

The leasehold you’re referring to is a different thing it’s down to historic property ownership and it would be a 999 year lease or something which is treated by all as same as a freehold for mortgage purposes

[gilgamboa]

I am. What were they? It appears at the moment one of the issues in being a tenant is the lack of long term tenure. Commercial tenants who pay their rent don’t have this issue. Seems odd that a commercial tenant can gain more rights than an individual

[Fagan_ODowd]

@gilgamboa

I am. What were they? It appears at the moment one of the issues in being a tenant is the lack of long term tenure. Commercial tenants who pay their rent don’t have this issue. Seems odd that a commercial tenant can gain more rights than an individual

Any tenant with twenty years occupancy is entitle to rolling infinite renewals.

[flattythehurdler]

Is that just in Ireland?

[gilgamboa]

Residential? I think that is probably counter productive in that many LL would do their utmost to stop someone getting to 20 years!

[Fagan_ODowd]

@flattythehurdler

Is that just in Ireland?

Yes.

[Fagan_ODowd]

@gilgamboa

Residential? I think that is probably counter productive in that many LL would do their utmost to stop someone getting to 20 years!

It’s one of these law of unintended consequences but of legislation intended for the good of the tenant but ultimately means that tenant can never have a long term residency in a dwelling.

[Massey]

@TreatyStones

I’m hoping to build on an extension in the next 18 months.
This thread makes me sad.

You’re lucky you built when you did

[Tim_Riggins]

[Heyyoubehindthebushes]

I need some clarification here;

I had a conversation with a colleague last week on housing etc. Now they told me that when a new build estate is put on the market with 10% social/affordable housing, the remaining 90% of the houses in the estate pay for that social housing (everyone else pays and extra 10%) and not general taxation. They said they changed the law a few years back and this is the case. Is that true?

My understanding was the state bought the 10% of houses with general taxation money etc.

Would be good know what’s the story before I start talking out my hole

[Tank]

I’m fairly sure they’re wrong. The developer has to give 10% to the council. Possibly your friend means that the developer will usually pass that charge onto the other private buyers and your friend has confused themselves.

[gilgamboa]

Sell them to the council not give them I’d say

[Mullach_Ide]

@Heyyoubehindthebushes

I need some clarification here;

I had a conversation with a colleague last week on housing etc. Now they told me that when a new build estate is put on the market with 10% social/affordable housing, the remaining 90% of the houses in the estate pay for that social housing (everyone else pays and extra 10%) and not general taxation. They said they changed the law a few years back and this is the case. Is that true?

My understanding was the state bought the 10% of houses with general taxation money etc.

Would be good know what’s the story before I start talking out my hole

Developer has to sell 10% to the Local Authority at cost plus a developers profit which will be cheaper than the market rate for the house.

[LionelRitchie]

Builder will price it in so other buyers.be paying for the difference between market rate and what council pay them for the 10%

Tis all a cod. Right intention though.

[mikehunt]

Ireland's three biggest landlords: Their cheapest flat is €1,500 a month

[habanerocat]

@Mullach_Ide

@Heyyoubehindthebushes

I need some clarification here;

I had a conversation with a colleague last week on housing etc. Now they told me that when a new build estate is put on the market with 10% social/affordable housing, the remaining 90% of the houses in the estate pay for that social housing (everyone else pays and extra 10%) and not general taxation. They said they changed the law a few years back and this is the case. Is that true?

My understanding was the state bought the 10% of houses with general taxation money etc.

Would be good know what’s the story before I start talking out my hole

Developer has to sell 10% to the Local Authority at cost plus a developers profit which will be cheaper than the market rate for the house.

Is it always 10% or could it be more?
Is every estate included or is there some 100% privately owned new estates?

[Mullach_Ide]

@habanerocat

@Mullach_Ide

@Heyyoubehindthebushes

I need some clarification here;

I had a conversation with a colleague last week on housing etc. Now they told me that when a new build estate is put on the market with 10% social/affordable housing, the remaining 90% of the houses in the estate pay for that social housing (everyone else pays and extra 10%) and not general taxation. They said they changed the law a few years back and this is the case. Is that true?

My understanding was the state bought the 10% of houses with general taxation money etc.

Would be good know what’s the story before I start talking out my hole

Developer has to sell 10% to the Local Authority at cost plus a developers profit which will be cheaper than the market rate for the house.

Is it always 10% or could it be more?
Is every estate included or is there some 100% privately owned new estates?

Can be up to 20%, every estate is included afaik, previously developers could make a financial contribution or offer alternatives off-site ( buy some houses in other areas and offer them to the Local Authorities). Most LAs insist on on-site now.