Rental crisis Ireland: Cuckoo fund landlord plans to beat inflation with double-digit rent hikes for city tenants
independent.ie/irish-news/news/cuckoo-fund-la...
independent.iePosted Jul 8, 2022, 9:59 AM UTC
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independent.ie[deleted]
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Rents on new units are unaffected by any rent caps and owners are free to set the price according to the market.
That's still the case as far as I know. Hence why rents keep going up despite them being "effectively frozen" according to Darragh O'Brien.
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That loophole was just closed by the passage of time.
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[deleted]
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This is ridiculous that the government has allowed us to end up in this situation.
The only reason they are able to jack up rental prices so high and still obtain occupants is due to an extream shortage of properties in the rental market.
The government are accommodating 35,000 ukrainians placing unnecessary strain on already limited accomadation and further financial hardship on Irish citizens.
These increased rental rates will apply to any people trying to move into a different apartment going forward. Over time as the months pass, more and more Irish citizens will be affected by these rent hikes.
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It’s hardly the Ukrainians fault that Russia invaded . What exactly would you have the government do, refuse them access to the country ? I hate that people are now blaming refugees for the housing crisis . It’s the governments fault were in this mess . Also it’s not as if the Ukraines are been given homes in the private sector. There being put into hotels which we have plenty of .
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I agree it is definetly not the Ukrainian civilians fault. I am not blaming them. They are trying to escape a terrible situation.
The government should have funded their accomadation overseas in cheap eastern European countries. They could have helped a far greater number of refugees for a fraction of the cost.
You don't bring 35,000 refugees into an extream housing crisis. That's incompediance.
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Do we know that there was ever an option on the table of funding them in Eastern European countries ? I’m sure some of them would want to come here anyway . I just don’t see a point in including these refugees in this housing crisis discourse other than emboldening racists . This crisis has been in the making for last ten years long before this conflict .
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How are people to discuss such matters. That's the problem people get accused of being racists or singling refugees out when they make factual observations.
The Irish government have stated they will accommodate an "unlimited" quantity of Ukrainian refugees with a "limited" supply of accomadation all whilst in the middle of an extream housing crisis.
People should be asking why they did not do the sensible thing and fund accomadation overseas. Where is the government report that assessed funding accomadation overseas, incompediant government.
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[deleted]
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These increased rental rates will apply to any people trying to move into a different apartment going forward. Over time as the months pass, more and more Irish citizens will be affected by these rent hikes.
RPZ limits apply across tenancies. Raising rents between tenancies is unlawful.
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The company is spending half a billion on buying properties in the EU, the RPZ limits still not apply to any new properties they buy in Ireland.
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They're not applied to any new properties that come on the market, regardless of who owns them. They're permitted to charge market rates if the property is new to the rental market.
Should they set a price cap on new rentals?
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If they spend half a billion on buying new properties in Ireland the RPZ limits will not apply, that is what I am stating.
As a temporary measure the government can increase supply to the rental market immediately by using hotel accommodation to house irish citizens.
Back in April it was reported that the government are providing 3,000 hotel rooms to house Ukrainians.
If the government provided 3,000 hotel rooms to house irish citizens it would immediately increase supply to the rental market, reducing demand which would help cool the market and reduce property rental prices within weeks, not years.
I would propose that the irish citizen hotel rooms are part funded by the irish citizens occupying them and the remainder picked up by the state. The rental rates would be set by the state.
The only reason they are able to jack up rental prices so high and still obtain occupants is due to an extreme shortage of properties in the rental market.
The government need to immediately increase the supply of rental accommodation.
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No it's the government to blame. The Ukrainians needed help and sadly have been bought here for a photo op and been left in emergency accomodation. The whole housing situation for whoever is an absolute disgrace.
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Yes, I agree.
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Sounds like they are unaware of our RPZ legislation capping rental increases at 2% per annum. Could only do such a level of increases on existing rentals in the rent hasn't been increased in 4 or 5 years (which I would say is doubtful given the recent market)
It's really poor reporting. What appears to be happening is that the rent for new apartments and those not rented out in the last two years (and so not subject to the caps) are being increased. Those that have sitting tenants in them will be increased by whatever the maximum is, which will probably be 2% as the REITs tend to do annual increases.
So basically it’s extortion