Renting out properties now "makes no business sense" | TD & Landlord leaving the rental market clash
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- Опубликовано: 5 авг 2024
- Muireann and Tommy are joined by Green Party TD Neasa Hourigan and Landlord Richard Quarry to react to the end to the moratorium on evictions.
Neasa tells Muireann and Tommy that this decision "will lead to a jump on homelessness figures."
"I think this will lead to children not having a roof over their head."
"I am so frustrated!"
She shows her disappointment in her Party Leader Eamon Ryan, stating that lifting the eviction ban "does not reflect Green Party values."
Tommy brings Landlord Richard Quarry as he explains why he has kept his two properties empty and is deciding to sell as it makes no "business sense" to rent them out.
Richard explains that some landlords have "a business on them," and that the policies put in place by government have made renting no longer profitable. He believes that the "pro-Tenant" legislation will reduce supply.
Do you think lifting the ban on evictions is a mistake? 🤔
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00:00 | Eviction Ban Lift
01:30 | Who Is Taking Up All Our Homes?
02:23 | Removing Sale As A Reason To Evict
03:21 | Who Decided This?
04:25 | Landlord Perspective
05:15 | "This Business Makes No Sense"
07:51 | Scaring Landlords Out Of The Market?
09:13 | Corporate Landlords
11:14 | Does Not Represent Green Politics
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I have a one bedroom apartment in a city centre location with all amenities on the doorstep which I would be quite happy to receive €850 per month rent which is NOT exorbitant. It would suit a single person or a couple.
However, I will leave it vacant as I refuse to be taxed so highly (52%) on it and be faced with 33% capital gains tax if I sell it. That's completely unfair and just not worth my time!
I also refuse to face a two year court battle to remove tenants if they refuse to pay the rent.
Those are the main reasons landlords are leaving the market.
I'm a landlord for a property in Dublin ,I get 1500 a month for it ,I still have mortgage and mngt on it which comes to around 11 ,I don't pay tax because I put a lump sum in a pension and that writes of the tax
BTW: Like in a real life, this landlord got hardly any voice during the show. He wanted to show that it is not worth having a property, of course, he is not gonna to finance somebody's bills and the TD got angry that his 2 properties are free. Maybe she can finance the rent for somebody in that property? Again, Iam going with TDs 'logic'
No one listened to him ..
He was the only one talking any sense
I could not agree more with what you said. The brilliant bureaucrat solution is, of course, more bureaucracy...at least I can find solace in seeing the lunatics run the hospital in places besides California.
Neasa is only interested in what will get her more votes and secure HER job. She has no interest in listening to the private landlord, who is telling her why the bulk of our rental supply is disappearing. He is correct in saying that all her policies are the cause of the supply shortage and resulting crisis.
Selling a property with sitting tenants is impossible. Unless a landlord is prepared to sell for half its value, no buyer wants the hassle of getting the tenants out and maybe 2 years of court battles to get an eviction order. What planet is Nessa Hourigan from. She has no regard for the landlords and seems only interested is pandering to her voters.
The state doesn't want to buy these homes because they will have to manage and maintain them and they don't want to be in that business.
I feel the host here was very rude, the guy renting was not given a proper chance
A functional rental sector is a necessity. Landlords can not make money so no investment is being made . . Eviction bans do nothing to increase supply. Investment is needed . It needs to be viable . At the moment it's not viable
Property owners must be able sell with vacant possession. Buyers who want to buy a property to live In will not buy with a sitting tenant..
45 %for the mom and pop landlord 21% for corporate, no wonder there leaving the market.
You’re completely right, but I reckon the main advantage for the corporate landlord is that the mortgage payments on the property are counted as an expense pre tax. If I buy a property tomorrow with a view to rent it out, I’m liable for 45% tax on all the rental income. So, if the rent is eg e2k pm, and the mortgage is e1500 pm, I owe e900 in tax plus e1500 mortgage payment. The property is going to need e400 pm out of my own pocket. That’s without factoring in any maintenance bill. Can we not tell who is the real villain here? Not the tenant, not the small landlord, not even the corporate landlord, as they will make profit in any system that benefits them.
8% prsi ..
Don’t forget that
Property tax
RTB
Insurance
Repair and upkeep
Risk of non payment of rent .
I got out in January after 19 years
It’s a mugs game
I’m sleeping better already
Not to worry, our politicians acted with lightening speed to house all the migrants so I'm sure they will do the same for the Irish homeless. NOT!!
They need to listen to that landlord. They won't, though.
Who voted for the green TD .
Shockingly poor here .
All of the green TDs never come across as worth voting for .
Omg 🤣 'I got a landlord but I haven't seen him in 5 years'
This is the norm
Because she has no children who destroy the house
What is an affordable rent? Costs? interest, service charges , insurance , maintenance of premises and equipment....the main problem is the case where there is a bad tenant that cannot be got out who wrecks the place or annoys the neighbours. Legislation should balance rights of tenant and landlord. Who would invest in this business ....the taxpayer , as is proposed by the deputy...in other words the working people who are already fairly heavily taxed.
I own apartment management fees go to the roof 2500 a year in Limerick! And this property is terribly maintained! Green walls drugs front door broken! If I move some other place I would sale this property not worth to rent!!
These are very real problems ...a bad management company can seriously diminish value....nobody worried about landlords back in the bad old days of the negative equity and property slump
Makes me cry 😭 what’s happening now!! but I don’t blame landlords. This is government fault!
No one wants to evicte.problem is some tenants are rogue the don't pay rent on time some don't pays so whan people who cares for tenants the should pay rent on time for them and than the welcome to stay on
Definitely NOT renting out my house ever again. Its stressful and loss of money and mortgage costs shooting through the roof.
if there are many homeless why is the ban put in place? i mean you have to kick out someone to give home to someone else, for example someone who actually pays?
HOPE THEY PUT ENOUGH BEDS IN THE GARD ON THE A STATIONS FOR THESE POOR FAMILYS AS HOTELS ARE FULL OF YOUNG MEN SHAME ON THE GOVERMENT
So you need to sell - interest rates too high or change of circumstances - and you can't evict - what a load of twaddle. Lets ask the banks to give charity mortgages, the electricity companies to make no profit, tradies to stop charging through their incompetent noses - ha ha
15% corporate
Vs
Reg landlord
50% plus 8% prsi
Madness
TD is so incorrect. People are not being thrown out from 'their' homes. Those homes Do Not belong to the tenants!!!! Those houses belong to the people who bought them. If you say it like that, it makes the tenants feel that they are entitled to the house. A message to the tenants: put your sleeves up and work hard to buy a house, even a small house to refurbish.
The tenants entitled arrogance are astonishing and astounding. As an ex landlord I will never rent out my property again until I am ready to sell and emigrate to another country.
I don't blame you.@@globalismoblackman
The lesson here for kids in school is to get a trade or a good degree so when they are 30 they can afford to buy a house.
Exactly!
And live on the streets while in school and University ? Be real.
@@patwalkins2061 live at home with ur parents while ur in college or doing a trade. There are people out there and all they do is try to find a problem when given a solution.
Poor Richard can’t get a word in…….
It would collapse the market..... nobody in their right mind would buy an investment property with tenants in situ.
This problem is all about bad management if you invite the world into a country you have house them.
into the
“Homes are not an asset” very interesting fundamental beliefs for a person with such a high degree of social power.
“You will own nothing and you will be happy.”
In California many of the people that say such things have cushy pensions as well.
Homes are not an asset Ive learned that recently as Im new to this . I want to become real estate agent after rising capital so Im studying a lot .
We have had nearly 1 million people from Eastern Europe come to Ireland in the last 20 years. There is the housing crisis right there. But no one will say it.
If the landlord feels it makes no business sense then he or she will not pursue it.
This TD suggests that it is not point in working, as she said the 'the state should provide the house'
Well, don't try to buy wotes by giving the houses for free
The easy solution is to ALLOW People to built the houses! How do I know that? Because I experienced the broken system from a different angle. The planning permissions are so strict with the Zoning that hardly anyone can built the house, only developers are allowed. The question is Why? WE know the answer but one would say its too rude to say it openly
Take your constituents to your house then
No wonder we have the highest homeless, how many Ukraine have we have housed, no rush to house our own
And no one benefits when the government takes over and runs anything. Government should redirect their efforts and money on the mental illness and addiction crisis so there are more tenants of quality and more landlords offering housing.
That Landlord is exactlly right.
Government set rent landlord pay no capital gains tax problem solved
Why are these being called evictions. Evictions are for people not paying. These tenants are paying.
You get tax on turnover not on profit
Exactly that's bad business
Hopefully this man realizes he is wrapped up in a Ponzi scheme before it is too late.
This TD has the duty to speak out on social issues.
Watching from abroad - - please remember the Irish abroad who would like to return home - - how are we going to get back based on all this going on ? nightmare very depressing indeed ! As we know their is a cycle of Irish leaving & returning now their is a real block on returning with No accommodation available at reasonable prices ! Disaster and then a decision to take in 75000+ from Ukraine (remember 80% of Ukraine is Not at war plenty of space to house them there with support from INGO's ) Plus the responsibility for Refugees (yes they should be helped with realistic numbers only) Of course immigrants are welcome to Ireland through DFA dept. But the perception now is the Ukrainians have more rights & 5 star support in Ireland than the Irish themselves - at home or wanting to return home. Small observation - look at the Government & "Citizen" information websites and special links for Ukrainians - - Zero for Irish returning home and certainly stricter rules apply for the Irish ! (Yes I do agree with realistic support / charity but this is crazy) Certainly a deep sense the Irish have lost total control of Ireland - Time to take it back !
Small landlords are dead
Nonsense
Marry when you buy a house, don't marry men got no future to house you.
Abolish this concept of landlord class; it is an anachronism fuelled by unprecedented and uncontrolled greed. Our constitution which unjustly favours these private and corporate lords needs immediate amendment which should reflect justice, christian values and not indian caste systems.
The church should provide houses after all the money the govt paid out to buy off their victims
Yeah... the term landlord seems to suggest some sort of feudalism. Ok my lord.😅
@@last_samurai6690 Buy your own house and quit whining
@A Conneely I have my own house. Infact I myself am a so called landlord. Though o plan on selling. Wasn't planning to be a landlord, I just moved cities. That does not prevent me from making a comment on the etymology of the word landlord. I dont call myself a landlord or feel like I am of the landlord class. So there was zero whining on my comment. I am not the type. I am more of a go-getter.
@@last_samurai6690 So you get upset over words . Would you be what's called a snowflake ?
This man is not realistic
Should ban people owning more than one house, simple,
Where do you live ? Russia ?
@@vibes..585 no but all the wankers who have portfolios ,paper millionaires, are fking the people they grew up with, one house is all everyone needs, should be law
Why? Ur jealousy isn't a solution to this problem
@@bobsemple9341 dominoes will fall
@@umbro12 domino's how? You have no right to other people's property. The constitution exists bud.
Drop the jealousy and some day u might have the financial literacy to buy a home lol
He shouldn't be in the market. He is only interested in making money. We dont need landlords like this. I dont want my taxes paying private landlords investments.
Making money, isn't that the only reason to become a landlord? Do you invest your money in somthing you know won't bring any returns? Do you work for free?
He shouldn’t be in the market because he wants to make money? Wow… just wow…
Time to educate yourself on life .
Susanna you get a mortgage property and hand it out rent free and let's see how long you last lol 😅😅😊
@@finbarrcarroll4787Apparently he is a charity and doesn't have the mortgage to bank. No wonder I have anxiety about renting out my house again with that woman's entitled mindset Lol 😅. I dodged a bullet being a landlord for the 2nd time. No thanks 😊