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A METEOROLOGICAL MAST has been knocked over in Co Laois.
The structure was in place in Cullenagh Forest in the south east of the county.
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It is reported that there has been some opposition to the wind farm in the local area.
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@Stevie Doran: Won’t be long now until you have someone coming along trying to make out that landlords don’t make very much money and tenants are bad and oh lord isn’t it so hard being a landlord….
Dublin not having a Directly Elected Mayor accountable and Responsible for housing and accommodation is one of the reasons we are having a housing crisis, other cities around the world with Directly Elected Mayor’s have been able to implement policy’s to combat out of control housing rental price increases. Eoghan Murphy has completely failed!
@Seán Troy: but how can we know if we don’t have a free market? The housing market here is managed. Try to build something and see the amount of hoops you have to jump through and regulations that have to be met. I’m not saying some of these aren’t necessary, but blaming a free market when we don’t have one isn’t right.
@Vincent #SaveDaredevil: If there was such a conflict of interest then you would think the tax on landlords would be lower than 50%.
Government gets most of the rent money after the bank. Very little if anything goes to a landlord while they have a mortgage on the property.
This is why they are leaving.
@Vincent #SaveDaredevil: mostly landlords? Lazy fake news. About 1 in 4 TDs own a 2nd property. That is probably not too different than the national average of people of a simikiar salary
@Gavin Conran: and pinned to the top as a ‘must read’ as well, so even at 8.30 am, it’s the first story I see. Most effective way of getting biggest readership possible – not a tactic to bury it so that nobody sees it. There are a lot if conspiracy theories on here every day, but this one reay doesn’t stand up.
@Peter Coen: most “greedy landlords” are already capped by RPZs, paying 53% of rental income in taxes and selling up in droves. These increases are clearly due to the new entrants to the rental market: vulture funds who can charge what they like… and pay feck all taxes.
@Johannes Baader: If the average rent is €1400 per month then the average tax is just below half that (for small landlords).
Small landlords get charged their normal PAYE rate and PRSI + USC on their income. So about 52%.
Obviously they can claim some expenses so they’re not paying the 52%.
We paid 1500 a month in 2007 for a 4 bed semi in Cork.
We paid 1000 a month in 2010 for a 4-bed semi.
We were able to buy a house in the country in 2015 as we could not afford a mortgage for a house in the city area.
Now those rental properties are 1700+ per month. Supply, demand, what the market will bear, are all a factor. All I can say is I am glad to be out of the rental market, the burden is real. Mortgages are much cheaper than rent but getting a deposit saved is really difficult. Better than the 100% mortgages/negative equity scenario we had in 2008/9 but just a different and very real problem now.
@Seeking Truth: I was in the same situation as you. Bought last year on the fringes of the commuter belt as I couldn’t buy closer to Dublin. Mortgage is around €400 cheaper than what I was paying in rent every month.
@Seeking Truth: Same situation here, we bought in Dublin when the market had completely bottomed out in 2012, rent for our old place has double since then (recently back up on daft), we were lucky with the timing but high cost of renting prices so many out of buying.
The dogs on the street know what’s going to happen next. Bank lending rules will be changed to allow borrowers to borrow more to allow them to purchase their own homes. Unfortunately this will cause house prices to rise overnight. Rents won’t come down either.
My family outgrew our very small 2bed house and we have bought a larger family home. The small house is still in negative equity after 12 years so we can’t sell. I am a reluctant landlord. Because of the nearly 50% tax rate to rental income, to break even I need to charge almost double my mortgage amount. That is why some rents are high. Not because I or others are greedy…because I need to break even.
@KDoyle: You won’t get any sympathy from the anti-landlord brigade here . Maths is n’t their strong point and they are not interested in the difficulties of being a landlord.
@artur filip: So you would expect every landlord, no matter what their circumstances to let properties at a cost to them? So I pay a mortgage and a bit for the next 30years because I got caught by the balls buying an over valued house in 2007? I should be punished? Seriously, thats the solution?
So you bought a house, and then said “I want a bigger house”, and decide that you’re a poor unfortunate soul when you have to pay for your original house?
When your tenants have paid off the mortgage on your old house you won’t be “breaking even”, you’ll be making a big fat profit.
@KDoyle: Most small landlords “invest” to have a house(s) to use as a pension or to leave to their kids. Their idea of breaking even is that tenants pay the mortgage over 25 years and they pay nothing themselves. If they have to pay out anything its considered a loss. So after 25 years their pension is fully paid for by tenants. Where else would you get your pension fully paid for by someone else?
@Fr. Fintan Stack: you are missing the point of my original post. I don’t want to be a landlord but I needed to move (64sqm terraced house with two kids, one spare bed). But I also cannot shoulder the negative equity. Once this negative equity is gone it will be sold. So my point is there are various types of landlord. Not all are evil caricatures out to screw the ordinary people.
@KDoyle: You made the decision not to sell your original property and move in to a bigger house. Now you are passing your negative equity on to your tenants. Should they be punished? On the flip side if your older property devalued then you got your bigger property at a relative bargain at the same time. Swings and roundabouts.
Rather than have the usual tenants v landlords argument while govt sit back why not give some suggestions. Personally I think if there were tax breaks for landlords if they entered into longer term tenancies indexed linked to inflation (so can go down when next recession hits) this would help
@dublindamo: nice idea…but in practice? I am a landlord and I have a pain in the ass with tenants moving in/out. I tried long term contracts and the tenants wouldn’t sign them!
@dublindamo: While I agree with you, giving tax breaks to landlords would be politically unpopular. You only have to look at all the anti-landlord comments on this page to see how that would work out. To give tax breaks to Vulture Funds who pay little tax anyway would be the last straw for most people.
@John Horan: renting to families with children in early primary school is ideal. Should have them for 8+ years. We rented for 7 years near the primary school and were thankful for long term contracts.
@Pierre Lecake: the pursuit of politically popular solution of persecuting the landlord hasn’t worked though has it? There was tonnes of accommodation in 2010. I was renting out a 2 bed in Dublin for 925 per month and glad to get it. Then they started cracking down on landlords and the situation for tenants has greatly worsened.
The vulture funds are feasting while government sit back and allow them to pick the bones of its citizens. FFG have failed us, I despise their cheer leaders.
The solution to this is not to put pressure on government to solve the housing crisis. The solution is to put up wages in areas of high rent & get companies to put pressure on the government to fix it. That’s who they listen to.
@Una Nolan: As a PAYE worker if I do overtime or take on a second job I am taxed at over half my income. Unlike landlords I dont get 100% mortgage interest relief either.
@Fr. Fintan Stack: Renting is a business and mortgage interest relief is a legitimate business expense. If you work overtime it is highly likely you will be paid. Being a landlord carries the huge risk of tenants not paying their rent and overholding which is basically stealing your property. They are supported in this by Threshold, The RTB and all the left wing politicians. We take financial risks in supplying a needed service but have little or no rights and then pay a fortune in taxes for the privilege. We are talking apples and oranges here Fintan
Here we go another boom-bust is hurdling down the tracks, rent rising and no curtailment or support by Government to struggling renters or struggling home owners. The country and Government has not learnt anything.
Any words of wisdom for one reluctant landlord who was forced to rent property in order to pay the mortgage. Their Tenants consistently made their payments late which put huge strains on the landlord who still has to pay the mortgage on time. The landlord decided there is no option but to sell the property. Because the tenants are in situe more than a year they must by law be given 4 months written notice of the intention to sell the property together with a solicitor’s letter verifying that the house is to be sold.
The tenants on receipt of the notice of sale of the property discontinued all rent payments. The landlords now legally had to issue an overdue notice, a 14 day notice and then a 28 day notice for tenants to quit the property. Still no response from the tenants, who by now are 2 months in arrears with payments and have cut off all avenues of communication – no response to texts or phone calls.
The tenants had been informed when the notice that the property was going on the market was delivered that an estate agent would be calling to value the property for sale. They are ignoring all calls from the estate agent. So we have tenants living rent free in the landlord’s property while the landlord must continue to pay the mortgage, house insurance and Revenue and are not able to have the house valued for sale.
Landlords get the worst word in most people’s mouths. What would those who might be in the position of the above landlord feel if they were that landlord?
@Mary Dunphy: You won’t get any sympathy here Mary from the anti landlord brigade. Overholding is theft and should be made a criminal offence with the Guards going in and arresting the offenders.Unfortunately the Housing Charity Industry and left wing politicians are cheerleaders for this type of activity and as all landlords are considered evil there will be no justice for you.
OK, but for what size and what type of accommodation? A fancy penthouse? A shabby apartment? A 3-bedrooms house? There’s only one size mention – for Cork, and that’s it.
@Timbob Kinky-Boots Dennehy: Pay increases for workers should not be allowed if they are paying their mortgage. See where I’m going with this. By your logic rent increases are ok if the landlord has his mortgage paid off or maybe he does n’t bother pay his mortgage and spends it on good times instead. I weep in despair at these type of comments and you got 4 likes
Only if by “studio” you mean somebody’s garage. When I tell people in normal european countries about converted garages and sheds being rented as “studio apartmens” they’re shocked, but we just think it’s normal here.
It’s like how we keep talking about “apartments” which are actually just rooms in houseshares. The stats are fecked, things are much worse than they let on.
Didn’t we fight the landlord system at the start of the last century, and the ones before that. Oh well same old same old for the poor Irish downtrodden. Rich get richer etc etc etc.
If the marginal rate of tax is 53% then a person needs to earn €4,260 per month or ~€50,000 per annum to pay for the average rental in Dublin. This means that most people are struggling to survive and savings are impossible to get into the owner’s market (if that is the plan). I would posit that this is untenable and will either turn Ireland into a very high cost economy (ala Switzerland) with little or no benefits. Taking this into account with the impending Brexit impact and the conflicting demands of our burgeoning welfare system, this does not make the prognosis very healthy.
For all the people giving out about “greedy” landlords, educate yourselves. My mortgage is 800 euro per month. If I wanted to move and rent my house, I would have to charge over 1,600 just to break even. This is because the government charges the marginal rate of tax on rental income.
I pay tax for landlords and every other non taxpayer, I am a public servant, not a flecking politician, who just talks, that is all a politician does, is talk.
Until his fat cattle, arrive home.
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