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

People want social housing built.

Just not anywhere within 2 miles of themselves.

Make that 5

They don’t want housing built near them, full stop.

The sooner the government buy us slum landlords out the better.

Case study for the TFK money men and landlord class:

‘accidental’ landlord has a one bed apartment in Dublin bought at the absolute height of the boom. Worth around 60/70k less than was paid for it.

Has it rented out for 9 years to good tenants and has never increased the rent. Was on a tracker and happy with the tenants (and not greedy) so didn’t bother. It’s rented at 500-700 euro below market rates.
Rate increases now mean the mortgage is gone up 300 quid in a few months.
He’s allowed raise rent by 166 according to RTB calculator.
Mr accidental would be happy enough with this and imagines the age profile of the current tenant will mean they move out soonish.
Problem is when the tenant moves out he’ll still be stuck on this very low rent due to the RPZs.

Registration with rtb has been allowed lapse.
Query is when he registers with RTB now could he set the rent at 1500 say with RTB but still charge the tenant 1250?
So that when he moves out he could put the rent at a market value 1600 for eg?
Does RTB correspond with the current tenant after registration telling him what the registered rent was?
Could a new tenant moving in check what the previous rent was?

Is his name Arthur by any chance?

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I know a Developer who was part of a forum that were called to a meeting in the Dept.

He set out the full costs to build a three bed semi, went through all the increases in material over the last year and how the regs have made a huge difference to the price of delivering houses.

He said the civil service lads shook their head and said they didn’t believe him.

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The pausing on evictions couldnt last forever. But one thing that no TD seems to factor in is that there are currently a lot of homeless people left homeless because there is no turnover of housing stock due to this. Some people will be evicted, and some homeless people will get place. Some people will be evicted and end up homeless, and others will move into shared family or friends places, like what often happens. Or some will move into newly available units.

I’d absolutely agree not enough was done during the pause to create new units. The amount of time it takes for a council to push through developments is absolutely ridiculous. Developers get it done far quicker, because they need to get a return on their investment quickly so will build and produce housing quicker. Whereas a co council has very limited resources, and take an age to get developments through. It has no financial impact on them to delay it. So there is no urgency.

The government also need to decide what they are doing on 2 items, more housing and town regeneration. And costs for them both. They can do housing in satelite estates and towns for cheaper than redoing vacant houses. But it shouldnt all be about costs.

But they’ll do fuck all because theyve sat on their hands for years and hoped someone else wihld solve the problem for them. The fact that they’ve regularly been given costs and data for years about housing shortages and rising costs and they still twiddle their thumbs as @anon98850436 says above

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A civil servant on here paid 200 quid to get a sink unblocked during the week. They’re utter clowns.

There’s an expectation that houses can spring up out of the ground for 150k.

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I don’t think anyone expected it could last forever, but it could last a while longer alright. Wholly agree with you that this has been years in the making, it was already starting to bite and predicted when Coveney was minister. I’ve seen nothing anywhere about councils being given extra resources (staff) to assist them develop housing. The one thing that shouldn’t be an issue is money though, it seems to be mobilising it to get units built is the biggest problem, it’s like turning the Titanic.

Civil servants are the biggest fucking problem as always

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More civil servants is the answer

That makes sense, yes, a good and constructive contribution from you there.

There is fuck all resources in councils to project manage and get it sorted and as you say, nothing to change this. They need designated teams to deal with current stock, renovation of units amd development of new ones. But they generally have a couple of people trying to do it all. And there isnt many resources out there to fill any vacancies either. I know of one house in Wexford where tenants moved out. They got a painter and other tradies in to spruce it up a bit and turn it over to go back for new tenants. About 2 years later, the painter was asked to go back and re do the painting. He said it was strange to have a tenant in for such a short time, but they had forgotten about the property and it lay dormant for over 2 years. I was not at all surprised to hear something like that.

If it wasn’t for the funds building in the last 10 years there would be nothing built.

No bank here would lend to a Developer to build apartments. €100m loan and hope the apartments sell in 2/3 years. There is a site on the long mile road with planning permission for over 1,500 units. That’s close to half a billion build costs. Good luck trying to find that lender. The LDA are the only ones that could develop that site but they’re clueless.

That ship has sailed with the funds now as well with material costs spiking and interest rates rising. A lot of schemes they would have done don’t stack up now.

The government need to fund the builds. Take the financial risk away from the Developer and the bank. If they sell great, folk will want to buy and get on the ladder, if they don’t sell then rent them. Also cheaper money so cheaper houses. Lots of caveats but something needs to be done.

HAP is screwing the country. The government will pay double the build costs over 20/25 years on apartment blocks and still not own them as the funds will still and they continue to rent them. It’s property, the government should look at a plan and pay back over 20 years….not 5 years and their re-election.

HAP is heroin, once your on it, you ain’t coming off it. I know people who have refused wage raises cos they’ll lose part or all of their benefits.

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That’s an appalling example but not unusual. Councils also deal with homelessness and housing refugees. If they’re not getting more resources then how are they to implement a gearshift in building homes. There’s no quick wins but however many years after varadkar saying we have a homelessness emergency/crisis or whatever he said, there’s still no sense of urgency.

Read @anon98850436 post above.

I see it in many sectors. Civil servants dictating to day to day business when in reality the gobshites have no experience in the sector.

It has been pointed out numerous times that upgrading existing buildings to current regs in unviable but Rules dictate that another viable way cannot be followed.

Throw more money about the place is your answer though?

If you can’t believe the developers who can you believe in fairness :+1:

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Sure we should just let everything be deregulated so. No checks and balances anywhere. Wonder how that would work out.

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