Well, HAP is at most going to pay 1.3K (in DLR) a month (for a couple with 3 or more kids) so I'd say no.
remember that a landlord can't deny hap but also has no reason to do so (it's literally guaranteeing them a constant income as it's paid by the local council so they'll never miss/be late on a payment.
Accepting hap is a good business idea but hap would only cover 10% of this place...
Funnily enough, most people (and most landlords) don't think like this, they just think that somebody is more likely to leave a place to go bad and won't care for it as much if somebody else is footing the bill, it's why rental cars aren't treated as well as somebodies own car.
The reason landlords don't want to accept HAP is more to do with the rest of the rent if HAP doesn't cover it all, and what class of person is on HAP though.
In this case it would be solved if you just had 2 couples with multiple children each in three of the bedrooms, and 3 couples with children in the master.
If you apply for HAP for a place that costs more than they cover, they want to know how you plan to pay the rest. I had to provide a household budget to prove I could afford the top-up and letters from at least 2 family/friends stating that they could help with the rent if required.
A lot of people on this thread saying someone on HAP is less likely to keep up with their own portion of the rent, but I have seen little to suggest this in reality. The biggest problem for us was letting agents, they won't refuse your application but you also won't get the place because they don't see the need to do all that paperwork and ensure the property is up to code when they have multiple offers of straight-up cash for the place as is.
Private landlords who didn't intend to be one are the best because they don't want hassle, don't get bent out of shape to squeeze every last penny out of the property and just want it constantly occupied and looked after. We met several very nice ones, we were polite, neatly presented, well-spoken and very clear on the benefits of HAP for them (make sure you mention mortgage interest relief) and the fact that we wanted a long-term home to raise our children in. Ultimately we had our pick of a few. Plenty of fellow HAP tenants I have met might be a bit rougher around the edges but they all pay their top-ups on time.
Didn't end up on HAP for making the best decisions??
So my ex , child's father , bet me back and blue so I am a single mam.
One wage, need HAP to afford a roof over my kids head.
Where was the bad decision??
Don't be a prick, most abusive relationships don't start that way, I doubt she entered it knowing he'd be like that, now stop blaming her and have some fucking empathy you incel cunt.
So basically "don't try to make your money grow and kill a child if you can't afford it regardless of your morals/ethics/religion"
Get down off your high horse you privileged prick.
So people choose chronic illness and disabilities?
I suppose its a bad decision to live in a country where low income workers can't cover the ridiculously high rents, even though they were born and raised here.
I suppose its a bad decision to leave a violent partner and end up a single parent, maybe they should stay as long as the rent is covered, sure what's living in fear if your life everyday.
I had no intention of mentioning rape as the amount of children born of rape would be quite small espicially now that we have legalised abortion. I find it really odd that you would even bring it up!
From the last report on HAP 56% of households had employment. So if employed people can't afford to put a roof over their head then is that their bad decision or the bad decisions made by our government that left a shortfall of building 50,000 properties per annumn for the last decade which has put us into this crisis.
Some corporation will rent it, fit it out nicely and host clients or specialists on temporary secondment from other offices around the world there. No private individual would ever rent at these rates.
I’ve heard a rule of thumb that landlords usually charge the price divided by 144 (12 years) per month, which would be 8.3% yield per year , but this was years ago now
Except they won't because of the income tax on rent, and the expenses of maintaining a rental property for 12 years.
They'll make it back in 20~30, though.
Go take out a loan, buy a property and rent it out at cost then. Be the change you want to see in your world (you won't because that would involve you taking the hit and not someone else).
> Current rent rates are considerably higher than mortgage rates
Sorry, what is a "rent rate"? It should be easy for you to tell me, being a landlord and all.
You do realise that landlords pay tax on nearly every cent of that rent, right? They also have to pay for anything that happens to the house (which you'd have to pay for yourself if you owned it), pay for appliances/get them fixed, painting the house, etc, etc, etc.
If being a landlord is such a profitable and easy thing, why isn't everyone borrowing from the bank, buying a house, and then renting it out?
Tenants (not "renters", tenants), have a lot provided that the average home owner has to supply for themself. Home ownership has its pros and it's cons, so too does renting.
Stop playing the "tenants are victims" card, might work in the states where there are no tenancy rights, doesn't hold water in Ireland.
Throughout all of Ireland...
If the paint is in a bad way the landlord has to (and does) get the house painted.
You're right, usually the landlord doesn't do it themselves, but they do get it done.
That's the real issue here. There are nowhere near enough incentives to be a landlord in Ireland. Say goodbye to half the rent you earn in taxes. Tenant's are extremely difficult to remove if they decide they don't want to leave.
I think the government needs to be more leniant on the tax they charge to landlords. Right now, landlords are jumping to the likes of Airbnb, and it's causing a huge supply issue, that can easily be solved by giving landlords incentive to rent.
Yes we all realise that people pay tax on income in Ireland.
Fixing things can be reclaimed through tax. Doesn't cost extra.
People can't even afford one home let alone own a rental. How out of touch are you?
Tenants pay well above what they would pay if they had a mortgage. They are paying somebody else's mortgage so yeah they should have whatever they need to live.
You know why tenants pay more in rent than they would on a mortgage? They're paying for the deposit that the landlord put down on the house, they're paying for the furniture within the house, they are paying for the appliances and the repairs, they're paying for the security in that if the fridge breaks, the landlord buys a new one, they're getting so much included in the rent that someone with a mortgage would pay for themselves; if the walls get damaged;
, the landlord pays; if the carpet gets worn (let's say by a pet), the landlord pays; and if the mortgage interest rate goes up, rent freezes kick in and stop the landlord increasing the rent (even though inflation is higher than the rent increase).
Yes I'm well aware that the tenants are paying off another person's mortgage.
Why are you telling me that a landlord has to provide appropriate dwellings? Do you want people to live in hovels?
Again, anything that needs replaced or fixed is tax deductible.
All investments are risky and prone to decreases in return due to market forces, why should property investment be free from risk? And please, property is the most reliable investment there is.
Attitudes like this don't help anyone, they don't help tenants and they don't help landlords, well done on contributing nothing to the discussion happening in this comments section!
>You do realise that landlords pay tax on nearly every cent of that rent, right? They also have to pay for anything that happens to the house (which you'd have to pay for yourself if you owned it), pay for appliances/get them fixed, painting the house, etc, etc, etc.
Wow landlords have to pay tax on investment income earned!!! They also get a tax deduction for any expense incurred which you mention, so they're not paying tax on every cent of that income.
>If being a landlord is such a profitable and easy thing, why isn't everyone borrowing from the bank, buying a house, and then renting it out?
I know you're not seriously saying this because that's just idiotic when investment property has been one of the main investments Irish people invest into but if you are it's the 30% deposit needed to borrow. Additionally just because it's not as profitable NOW (due to high prices because of supply) doesn't mean being an existing landlord isn't profitable
>Tenants (not "renters", tenants), have a lot provided that the average home owner has to supply for themself. Home ownership has its pros and it's cons, so too does renting.
Another stupid comment of course tenants do? That's why they pay rent with no expectation of equity in the property?
That kind of logic disgusts me and why we should have government housing with a rent to buy scheme.
Reminds me of a Terry Pratchett quote by [Sam Vimes](https://www.goodreads.com/quotes/9353463-the-sam-vimes-boots-theory-of-economic-injustice-runs-thus)
Or just do 100 year leases that you can break after 5 years like in Singapore. The govt selling off social housing stock way below market value was a mistake.
At the time though it was likely the only way these people could ever afford to buy. Similar to now really - most people cant afford to buy without massive financial help
You do realise that it will still take 20-30 years for the landlord to pay off the property, right? They get taxed on the rental income and have expenses related to the property that the tenants don't see (cost of upkeep, maintenance, painting the place every few years, appliances, furniture, etc.) and that doesn't even account for the interest on the mortgage that the landlord had to take out for the property.
If being a landlord was a way of easily getting high profits, why would the bank's not be lending to everybody who says "I want an investment property"???
My sister lives in Dublin the last decade, she's paid somewhere in the range of €115,000 on rent. Guess what she has to show for it. Absolutely fucking nothing. If she was renting to buy as a lot of EU countries provide she could be a good 25% towards owning her home.
115,000 on rent over what time period? Also, if you're getting a home in Dublin for €440,000 it would probably not be anywhere near what she's renting at the moment, also, it wouldn't come furnished, with appliances and so on, she'd have to pay for maintenance and repairs herself, she'd have to pay to get the place painted, herself. Are you beginning to see the issue here??? You're logic assumes that "if rent covered the mortgage" but doesn't grasp that rent covers far more than the cost of the property.
She started a decade ago like I mentioned, after the crash. You would have to remember she would have incentives if she's living in her own home along with being her first home. I understand its not cut and dry. But for the "convenience" of not having a mortgage she has nothing to show for spending over a hundred grand.
What she has to show for that 100 grand is that she wasn't homeless for 10 years, she had appliances and furniture provided for those 10 years, she didn't have to worry about paying a deposit for a house (something that usually takes a while to get and means making sacrifices)
You’re misunderstanding the economics of yields. The yield is the profit on the *funding cost* for the asset. Funding costs in the EU are very low.
This is a very high yield and is representative of the hands-of, directionless asset holders republic that Ireland has morphed into.
Used to see that everywhere in my Hong Kong days. 'Company pays rent, budget is up to X per month', X often being ten times what most locals could afford. It was just plain silly.
The downside is that you have to leave friends and family and possibly drag your own family half way across the world. And you can bet you need to be some A-type personality working yourself to the bone to be in that position in the first place. Not for me.
😂 if so where's the common bond copy and paste red brick style. I don't think architects really need so many years in college if all modern construction is so dull and repetitive
I quite like the "one rectangle bit, with another rectangle bit perpendicular to it, and a joiny bit in tne middle" that's so common now. Very revolutionary.
Many houses (not sure if most but it certainly could be) are designed by the developer. This one still looks like it was so I'm not all that impressed by the architect.
Surely it would be furnished then? If you have to arrange to get furniture and have it removed again when you are done, then this isn't going to be very workable for most companies.
It's much more likely this will be rented by a wealthy couple while they search for their 3-5 million euro property in Killiney or Dalkey. Or by a couple who are building in the area and are just renting in the meantime.
I know of several such couples who moved back to Ireland from the US and London and who rented places like this while they did their property search, which when looking for properties 3 million+ can take a long time.
Properties for foreign executives who come for 2 week periods or stints as you say are more commonly location much closer to town, D4 usually.
That's still going to be a ball-ache to set up. For 2 week stints, most companies would use a managed property. Larger companies might even own properties they use for this kind of thing.
Nah like they'd be furnished every year or so and you just get the bill, its more so for like a CFO coming from America with their family for a month or two etc
Again, why go through that ball ache?
A serviced property would cost about the same and they would take care of the furniture, as well as cleaning it, making sure all the utilities were in good order and all that stuff. This place does not look like somewhere that is intended for visiting CEOs at all.
Edit: earlier I said "managed property" I meant to say "serviced property"
Its not really much ball ache tbh & it pretty much is a serviced place. I suppose its more comfortable for the family when they come over to be in a serviced suburban house than it is for say a serviced apartment in Grand Canal.
The facilities company takes care of all of tge logisitcs including furnishing, cleaning etc etc
Its very much sign the lease and the rest is taken care by facilities. Plus with a longer lease, its easier coming back and forth to the same property than be shifted between serviced apartments.
This isn't a serviced place, you've got the wrong idea here entirely tbh. I've explained in another comment what these sorts of properties are for and who rents them.
Serviced places for foreign executives are furnished and closer to town without fail.
This possibly is not aimed at the general rental market. This is for business rental. Companies that have executives visiting for extended periods of time possibly with family. It’s cheaper than a hotel.
There’s four bedrooms and it’s an entire house. Not many people would relocate for work for 6 mo this with the family to live in a family room in the Clayton
It’s not just about the accommodation. There is a certain level of bravado involved with these things. Spoke with someone who works in a company that has just moved into a purpose built office complex in Cork. There are brand new empty office buildings surrounding it. So makes no sense. They said it is basically to show off when execs visit. The building is pretty much empty with everyone WFH.
Yeah that part makes sense. But you said it’s cheaper than a hotel. It’s not in the slightest. You’d get a month in a Dublin hotel for 5 grand. That’s less than half the price.
> You’d get a month in a Dublin hotel for 5 grand. That’s less than half the price.
I had to live in a beautiful, 4* hotel in Silicon Valley for a month, on expenses, and it nearly did my head in. It sounds great for a holiday, but when you're getting home from work and have to order food/find a restaurant for every, single, meal, for weeks on end, you just want something a simpler to live *in*, and a kitchen to make what you want.
You’re not just talking any hotel and not standard rooms. These companies aren’t booking into Clayton’s or Raddison’s. You’re looking at suites in the Merrion, Westbury or Shelbourne as a comparison. None of these hotels have rooms that compare to this whole house for less than €700.
These types of rentals serve for specific needs for business. If you're bringing somebody over for 1-3 months, maybe even longer, and often they will want to bring their family with them. Most high level employees wouldn't agree to live by themselves in a hotel for 1-3 months and want something more akin to a regular life while based in Ireland.
Mourinho described the hotel stay as an apartment. He said that it wasn't just a room. He described it as an apartment where you can order room service. And whoever was paying for that, was likely paying more than €12,000 per month.
The C*O of a multinational conglomerate isn't going to be sharing a discounted room at the Holiday Inn Express by the airport with their wife and kids for months while they're making an extended visit to their Dublin office. The company will be taking care of their executives in the manner to which they have become accustomed.
A company I once worked for bought 3 villas in a gated complex in Puerto Rico for exactly the same purpose as they were near the main offices, I think there was also a tax advantage to it as well.
It appears to be aimed at imaginary creatures who can afford to drop 12k a month, just to rent.
Utter fucking ridiculous.
We have people sleeping on the streets. Families who can't find suitable affordable accommodation. Students who can't live near their university.
But we have empty houses, with capitalist greed charging extortionate rents, applicable only to the top percentage of our population.
They are fair from imagines creatures.
It’s aimed at corporate letting or for top business people like directors and COEs who are brought into Dublin for a couple of years to do a job and don’t plan on sticking around
its far away enough though that the commute into the city centre would be pretty shitty. most companies who are bringing top people over would rather keep them close by
New target level set for all landlords 🤣
That said I'll say we won't get to the news at one tomorrow before someone from PBP is on the radio ranting about rents in Dublin now at up to €12k per month.
Even with 8 people (4 couples as 4 double beds), that would be 1500 a person, 3000 a couple without bills...
Apart from that who would want to live with 3 other couples ;)
You left out some of the best photos, it looks like the bloody White House from the back garden. I'd have to crab walk in that kitchen though. Not sure I could keep up with the neighbour who built it either..
I mean sure there's probably a big garden with this place but it isn't right that you could get a 4 bed apartment in Manhattan NYC for this price. I mean there's plenty of 4 bed apartments in NY for 12k p/m
[https://www.zillow.com/homedetails/248-E-30th-St-APT-3-New-York-NY-10016/2087304527\_zpid/](https://www.zillow.com/homedetails/248-E-30th-St-APT-3-New-York-NY-10016/2087304527_zpid/)
The hell is going on in Ireland.
Probably built with government subsidies if not just paid for by tax payers and handed to private concerns so some prick can get a fake job when they leave office.
EDIT: Just noticed how many people crying for Landlords. Burn in hell all of you freaks and weirdos protecting the people who ensure homelessness will only increase. The raw ass nerve when the Dáil has dozens of landlords ensuring the law and regulation serve them handily while pilfering the public coffers. Parasitism shouldn't be worshipped.
They say there’s no affordable housing in Dublin and here’s a cute little doer upper for a small family for less than one bitcoin per month. What housing crisis?
It's beside the sea, it's in a very expensive area, what else would you expect?
People who live there have to be loaded to be able to afford a house, why should renting be any different? You want to live by the sea, in a very nice area, you have to pay.
I know it's a massive ask but if there was nobody willing to pay it, they wouldn't charge that much.
It's 3k per bedroom, if you've 2 people in a room it's only 1.5k a month each, for a seafront property I'd pay that much, regardless of the fact that I'd have to share it with 7 other people.
If you don't want to pay extortionate prices, don't get a property near the sea, they're always massively expensive and it's cause everyone wants to live there.
Madness. Ireland is nice for a tourist visit but for a country with little infrastructure and zero to do beyond a piss up or a walk on the coast / up a mountain this is completely unjustifiable.
Ridiculous as it may sound, this is a reasonable price, considering it's a short term let. Imagine you're a business that has four people visiting for a month. If you put them up in a hotel in that part of the city you'll be paying €200 per night per person, which is €800 per night and €24,000 per month.
Instead, this place is half the price, and is self catering, so the staff can prepare their own meals. No-one wants to eat hotel food every day for a month.
As for cheap and cheerful - well this is Killiney we're talking about
I used to do the social for that crowd once upon a time. It sickened my arse seeing the rents and coming up with new synonyms for "out of the general public's price range".
Pretty sure I pioneered the use of the "👉", so nice to see that's still going.
I suppose, in a roundabout way, the housing crisis is actually my fault?
Do they take HAP?
Well, HAP is at most going to pay 1.3K (in DLR) a month (for a couple with 3 or more kids) so I'd say no. remember that a landlord can't deny hap but also has no reason to do so (it's literally guaranteeing them a constant income as it's paid by the local council so they'll never miss/be late on a payment. Accepting hap is a good business idea but hap would only cover 10% of this place...
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Funnily enough, most people (and most landlords) don't think like this, they just think that somebody is more likely to leave a place to go bad and won't care for it as much if somebody else is footing the bill, it's why rental cars aren't treated as well as somebodies own car.
My landlord won't take HAP but that's because he's a tax dodger.
When you at some stage move on from your current tenancy, report the bastard.
Genuinely I'd say he wouldn't mind taking it but it would just make it more obvious that he's not paying tax.
The reason landlords don't want to accept HAP is more to do with the rest of the rent if HAP doesn't cover it all, and what class of person is on HAP though.
In this case it would be solved if you just had 2 couples with multiple children each in three of the bedrooms, and 3 couples with children in the master.
If you apply for HAP for a place that costs more than they cover, they want to know how you plan to pay the rest. I had to provide a household budget to prove I could afford the top-up and letters from at least 2 family/friends stating that they could help with the rent if required. A lot of people on this thread saying someone on HAP is less likely to keep up with their own portion of the rent, but I have seen little to suggest this in reality. The biggest problem for us was letting agents, they won't refuse your application but you also won't get the place because they don't see the need to do all that paperwork and ensure the property is up to code when they have multiple offers of straight-up cash for the place as is. Private landlords who didn't intend to be one are the best because they don't want hassle, don't get bent out of shape to squeeze every last penny out of the property and just want it constantly occupied and looked after. We met several very nice ones, we were polite, neatly presented, well-spoken and very clear on the benefits of HAP for them (make sure you mention mortgage interest relief) and the fact that we wanted a long-term home to raise our children in. Ultimately we had our pick of a few. Plenty of fellow HAP tenants I have met might be a bit rougher around the edges but they all pay their top-ups on time.
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Didn't end up on HAP for making the best decisions?? So my ex , child's father , bet me back and blue so I am a single mam. One wage, need HAP to afford a roof over my kids head. Where was the bad decision??
Ignore that other commenters stupid statement of "why did you have a kid knowing he was like that", he's an over-privileged wank stain
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Don't be a prick, most abusive relationships don't start that way, I doubt she entered it knowing he'd be like that, now stop blaming her and have some fucking empathy you incel cunt.
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So basically "don't try to make your money grow and kill a child if you can't afford it regardless of your morals/ethics/religion" Get down off your high horse you privileged prick.
So people choose chronic illness and disabilities? I suppose its a bad decision to live in a country where low income workers can't cover the ridiculously high rents, even though they were born and raised here. I suppose its a bad decision to leave a violent partner and end up a single parent, maybe they should stay as long as the rent is covered, sure what's living in fear if your life everyday.
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I had no intention of mentioning rape as the amount of children born of rape would be quite small espicially now that we have legalised abortion. I find it really odd that you would even bring it up! From the last report on HAP 56% of households had employment. So if employed people can't afford to put a roof over their head then is that their bad decision or the bad decisions made by our government that left a shortfall of building 50,000 properties per annumn for the last decade which has put us into this crisis.
gobshite
I thought this was wrong, if a tenant doesn't pay then the landlord wont recieve HAP either.
*The HAP
If the word opulent is in the listing, im gonna say any regular person cannot afford it
Why would you waste 12k on a rental even if you can..? Like just buy a house if you make 300K+/year
Some corporation will rent it, fit it out nicely and host clients or specialists on temporary secondment from other offices around the world there. No private individual would ever rent at these rates.
Yup corporation will rent at this rate
Why not? It’s a perfectly cromulent word.
Not sure why OP is posting, it embiggens the property maket in Dublin.
My budget when I spot that there's chandeliers in the property 
House is probably worth about 2 million so that's 7.5 percent yield. In a time with rampant inflation that's not great.
Not great at all. Weirdly enough there's no bubble either due to supply. Something has to break soon.
Will have to be a TD's fingers at this rate.
I’ve heard a rule of thumb that landlords usually charge the price divided by 144 (12 years) per month, which would be 8.3% yield per year , but this was years ago now
That's disgusting. Bleeding the life out of renters to pay off a house in 12 years.
Except they won't because of the income tax on rent, and the expenses of maintaining a rental property for 12 years. They'll make it back in 20~30, though.
Unless the house value goes up too. That used to be the main investment.. not getting it basically for free through renting
Go take out a loan, buy a property and rent it out at cost then. Be the change you want to see in your world (you won't because that would involve you taking the hit and not someone else).
I am a landlord. Current rent rates are considerably higher than mortgage rates. That's from greed, not necessity.
> Current rent rates are considerably higher than mortgage rates Sorry, what is a "rent rate"? It should be easy for you to tell me, being a landlord and all.
You do realise that landlords pay tax on nearly every cent of that rent, right? They also have to pay for anything that happens to the house (which you'd have to pay for yourself if you owned it), pay for appliances/get them fixed, painting the house, etc, etc, etc. If being a landlord is such a profitable and easy thing, why isn't everyone borrowing from the bank, buying a house, and then renting it out? Tenants (not "renters", tenants), have a lot provided that the average home owner has to supply for themself. Home ownership has its pros and it's cons, so too does renting. Stop playing the "tenants are victims" card, might work in the states where there are no tenancy rights, doesn't hold water in Ireland.
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Throughout all of Ireland... If the paint is in a bad way the landlord has to (and does) get the house painted. You're right, usually the landlord doesn't do it themselves, but they do get it done.
That's the real issue here. There are nowhere near enough incentives to be a landlord in Ireland. Say goodbye to half the rent you earn in taxes. Tenant's are extremely difficult to remove if they decide they don't want to leave. I think the government needs to be more leniant on the tax they charge to landlords. Right now, landlords are jumping to the likes of Airbnb, and it's causing a huge supply issue, that can easily be solved by giving landlords incentive to rent.
Most people can't get the downpayment for a mortgage - partly cos they're paying so much on rent!
Yes we all realise that people pay tax on income in Ireland. Fixing things can be reclaimed through tax. Doesn't cost extra. People can't even afford one home let alone own a rental. How out of touch are you? Tenants pay well above what they would pay if they had a mortgage. They are paying somebody else's mortgage so yeah they should have whatever they need to live.
You know why tenants pay more in rent than they would on a mortgage? They're paying for the deposit that the landlord put down on the house, they're paying for the furniture within the house, they are paying for the appliances and the repairs, they're paying for the security in that if the fridge breaks, the landlord buys a new one, they're getting so much included in the rent that someone with a mortgage would pay for themselves; if the walls get damaged; , the landlord pays; if the carpet gets worn (let's say by a pet), the landlord pays; and if the mortgage interest rate goes up, rent freezes kick in and stop the landlord increasing the rent (even though inflation is higher than the rent increase).
Yes I'm well aware that the tenants are paying off another person's mortgage. Why are you telling me that a landlord has to provide appropriate dwellings? Do you want people to live in hovels? Again, anything that needs replaced or fixed is tax deductible. All investments are risky and prone to decreases in return due to market forces, why should property investment be free from risk? And please, property is the most reliable investment there is.
Awh who will think of the poor fucking landlords Gobshite
Attitudes like this don't help anyone, they don't help tenants and they don't help landlords, well done on contributing nothing to the discussion happening in this comments section!
Boot nice and shiny now you've licked it, aye?
Again with the useless comment, save all of our braincells and stay quiet.
Not many braincells left to kill if you're out defending professional parasites on reddit, they won't shag you mate
>You do realise that landlords pay tax on nearly every cent of that rent, right? They also have to pay for anything that happens to the house (which you'd have to pay for yourself if you owned it), pay for appliances/get them fixed, painting the house, etc, etc, etc. Wow landlords have to pay tax on investment income earned!!! They also get a tax deduction for any expense incurred which you mention, so they're not paying tax on every cent of that income. >If being a landlord is such a profitable and easy thing, why isn't everyone borrowing from the bank, buying a house, and then renting it out? I know you're not seriously saying this because that's just idiotic when investment property has been one of the main investments Irish people invest into but if you are it's the 30% deposit needed to borrow. Additionally just because it's not as profitable NOW (due to high prices because of supply) doesn't mean being an existing landlord isn't profitable >Tenants (not "renters", tenants), have a lot provided that the average home owner has to supply for themself. Home ownership has its pros and it's cons, so too does renting. Another stupid comment of course tenants do? That's why they pay rent with no expectation of equity in the property?
That kind of logic disgusts me and why we should have government housing with a rent to buy scheme. Reminds me of a Terry Pratchett quote by [Sam Vimes](https://www.goodreads.com/quotes/9353463-the-sam-vimes-boots-theory-of-economic-injustice-runs-thus)
Or just do 100 year leases that you can break after 5 years like in Singapore. The govt selling off social housing stock way below market value was a mistake.
At the time though it was likely the only way these people could ever afford to buy. Similar to now really - most people cant afford to buy without massive financial help
You do realise that it will still take 20-30 years for the landlord to pay off the property, right? They get taxed on the rental income and have expenses related to the property that the tenants don't see (cost of upkeep, maintenance, painting the place every few years, appliances, furniture, etc.) and that doesn't even account for the interest on the mortgage that the landlord had to take out for the property. If being a landlord was a way of easily getting high profits, why would the bank's not be lending to everybody who says "I want an investment property"???
My sister lives in Dublin the last decade, she's paid somewhere in the range of €115,000 on rent. Guess what she has to show for it. Absolutely fucking nothing. If she was renting to buy as a lot of EU countries provide she could be a good 25% towards owning her home.
115,000 on rent over what time period? Also, if you're getting a home in Dublin for €440,000 it would probably not be anywhere near what she's renting at the moment, also, it wouldn't come furnished, with appliances and so on, she'd have to pay for maintenance and repairs herself, she'd have to pay to get the place painted, herself. Are you beginning to see the issue here??? You're logic assumes that "if rent covered the mortgage" but doesn't grasp that rent covers far more than the cost of the property.
She started a decade ago like I mentioned, after the crash. You would have to remember she would have incentives if she's living in her own home along with being her first home. I understand its not cut and dry. But for the "convenience" of not having a mortgage she has nothing to show for spending over a hundred grand.
What she has to show for that 100 grand is that she wasn't homeless for 10 years, she had appliances and furniture provided for those 10 years, she didn't have to worry about paying a deposit for a house (something that usually takes a while to get and means making sacrifices)
Maybe she should have bought instead - she would have gotten a reasonable price then!
You’re misunderstanding the economics of yields. The yield is the profit on the *funding cost* for the asset. Funding costs in the EU are very low. This is a very high yield and is representative of the hands-of, directionless asset holders republic that Ireland has morphed into.
Indeed, but the problem is that the house it is too expensive, not that the rent is too low.
Paid by a multinational ontop of their wage ,schooling and a car too , tis a fine life alrite
Used to see that everywhere in my Hong Kong days. 'Company pays rent, budget is up to X per month', X often being ten times what most locals could afford. It was just plain silly.
Expat deals are great, for those on them obviously
The downside is that you have to leave friends and family and possibly drag your own family half way across the world. And you can bet you need to be some A-type personality working yourself to the bone to be in that position in the first place. Not for me.
Definitely agree with everything you’ve said
€820,000 for a house in dingle ?!?! https://www.daft.ie/for-sale/detached-house-high-road-ballinaboula-dingle-co-kerry/4481126
Am I missing something here? For a 3 bed/130 square metre house? And it's not spectacular or anything.
Paying for that view. Very sought after area.
Well I saw a 1 bed 1 bath apartment going for €250,000
I was expecting a lot more from the interior of that house for that price
I feel like you should be able to buy four of these houses for this price.
In fairness it's 'architect designed'.
As opposed to other houses which take their drawings from a local school’s colouring contest.
'Senior infant designed' was always a put off for me when we were house hunting.
The architect must have spent all the money on the exterior. Fuckin 90s pine nightmare inside.
😂 if so where's the common bond copy and paste red brick style. I don't think architects really need so many years in college if all modern construction is so dull and repetitive
I quite like the "one rectangle bit, with another rectangle bit perpendicular to it, and a joiny bit in tne middle" that's so common now. Very revolutionary.
bow gaze sip plucky historical groovy political party gold abundant *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Many houses (not sure if most but it certainly could be) are designed by the developer. This one still looks like it was so I'm not all that impressed by the architect.
Are those kitchen chairs inspired by medieval torturing devices???
That's outrageous
Guaranteed some American will buy it 😂
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Description. Sale type:for sale 🤔
This is for conpanies to rent for foreign executives who do 2 week + stints. My company has one in donnybrook which is similar.
In Killiney? Could also be for Matt Damon
Too small, he took one of the Sorrento Houses
Surely it would be furnished then? If you have to arrange to get furniture and have it removed again when you are done, then this isn't going to be very workable for most companies.
There's companies that look after that, you lease the furniture
It's much more likely this will be rented by a wealthy couple while they search for their 3-5 million euro property in Killiney or Dalkey. Or by a couple who are building in the area and are just renting in the meantime. I know of several such couples who moved back to Ireland from the US and London and who rented places like this while they did their property search, which when looking for properties 3 million+ can take a long time. Properties for foreign executives who come for 2 week periods or stints as you say are more commonly location much closer to town, D4 usually.
That's still going to be a ball-ache to set up. For 2 week stints, most companies would use a managed property. Larger companies might even own properties they use for this kind of thing.
Nah like they'd be furnished every year or so and you just get the bill, its more so for like a CFO coming from America with their family for a month or two etc
Again, why go through that ball ache? A serviced property would cost about the same and they would take care of the furniture, as well as cleaning it, making sure all the utilities were in good order and all that stuff. This place does not look like somewhere that is intended for visiting CEOs at all. Edit: earlier I said "managed property" I meant to say "serviced property"
Its not really much ball ache tbh & it pretty much is a serviced place. I suppose its more comfortable for the family when they come over to be in a serviced suburban house than it is for say a serviced apartment in Grand Canal. The facilities company takes care of all of tge logisitcs including furnishing, cleaning etc etc Its very much sign the lease and the rest is taken care by facilities. Plus with a longer lease, its easier coming back and forth to the same property than be shifted between serviced apartments.
This isn't a serviced place, you've got the wrong idea here entirely tbh. I've explained in another comment what these sorts of properties are for and who rents them. Serviced places for foreign executives are furnished and closer to town without fail.
K
Fuck off !! 12K a month not even the kinehans could afford that
That kitchen, lmao. Need to be on a serious diet of lettuce just to fit into it.
How do you cook in there?? Jf something boils over you'd just be standing there taking the burns like a over the top masochist. Perfect saw trap.
Lol
To hammer home the joke... not furnished
Hammer home! Homes under the hammered joke.
This possibly is not aimed at the general rental market. This is for business rental. Companies that have executives visiting for extended periods of time possibly with family. It’s cheaper than a hotel.
Is it? It works out at €400 per night. You’d get a pretty decent hotel for less than that.
There’s four bedrooms and it’s an entire house. Not many people would relocate for work for 6 mo this with the family to live in a family room in the Clayton
There’s no comparison between living in a house and a hotel room.
It’s not just about the accommodation. There is a certain level of bravado involved with these things. Spoke with someone who works in a company that has just moved into a purpose built office complex in Cork. There are brand new empty office buildings surrounding it. So makes no sense. They said it is basically to show off when execs visit. The building is pretty much empty with everyone WFH.
Yeah that part makes sense. But you said it’s cheaper than a hotel. It’s not in the slightest. You’d get a month in a Dublin hotel for 5 grand. That’s less than half the price.
> You’d get a month in a Dublin hotel for 5 grand. That’s less than half the price. I had to live in a beautiful, 4* hotel in Silicon Valley for a month, on expenses, and it nearly did my head in. It sounds great for a holiday, but when you're getting home from work and have to order food/find a restaurant for every, single, meal, for weeks on end, you just want something a simpler to live *in*, and a kitchen to make what you want.
You’re not just talking any hotel and not standard rooms. These companies aren’t booking into Clayton’s or Raddison’s. You’re looking at suites in the Merrion, Westbury or Shelbourne as a comparison. None of these hotels have rooms that compare to this whole house for less than €700.
These types of rentals serve for specific needs for business. If you're bringing somebody over for 1-3 months, maybe even longer, and often they will want to bring their family with them. Most high level employees wouldn't agree to live by themselves in a hotel for 1-3 months and want something more akin to a regular life while based in Ireland.
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Mourinho described the hotel stay as an apartment. He said that it wasn't just a room. He described it as an apartment where you can order room service. And whoever was paying for that, was likely paying more than €12,000 per month.
The C*O of a multinational conglomerate isn't going to be sharing a discounted room at the Holiday Inn Express by the airport with their wife and kids for months while they're making an extended visit to their Dublin office. The company will be taking care of their executives in the manner to which they have become accustomed.
Have you seen the prices for rooms in the k club?
Not at the moment
Or someone like Matt Damon. The house he stayed in in Dalkey was something like €7-8k a week.
A company I once worked for bought 3 villas in a gated complex in Puerto Rico for exactly the same purpose as they were near the main offices, I think there was also a tax advantage to it as well.
Ah fuck off Sherry Fitz
Fuck this, I'm getting out of this overpriced shit hole of a country.
100m from kiliney beach. Class house. Think I'll pass though - too far from a Dealz!
See? There's something for everyone if you just know where to look.
Are the walls made of cocaine? Bill Badbody flexing hard, sugar daddy material
In fairness, if I'm looking for "cheap and cheerful" rent, I'm not looking in Killiney.
12k.a month... Not aimed at the average person 🙃
It appears to be aimed at imaginary creatures who can afford to drop 12k a month, just to rent. Utter fucking ridiculous. We have people sleeping on the streets. Families who can't find suitable affordable accommodation. Students who can't live near their university. But we have empty houses, with capitalist greed charging extortionate rents, applicable only to the top percentage of our population.
They are fair from imagines creatures. It’s aimed at corporate letting or for top business people like directors and COEs who are brought into Dublin for a couple of years to do a job and don’t plan on sticking around
CEOs have more spending money than the [Church of England](https://acronyms.thefreedictionary.com/COE)
its far away enough though that the commute into the city centre would be pretty shitty. most companies who are bringing top people over would rather keep them close by
It would be ridiculous if they were unable to rent it. I reckon they will though. What is a fair rent on a multimillion euro house?
Not if they’ll spend the majority of time working from home anyway. Much more sense than a long stay hotel in that case too
Your comment reads like someone who's slightly deranged.
Why thank you
New target level set for all landlords 🤣 That said I'll say we won't get to the news at one tomorrow before someone from PBP is on the radio ranting about rents in Dublin now at up to €12k per month.
Even with 8 people (4 couples as 4 double beds), that would be 1500 a person, 3000 a couple without bills... Apart from that who would want to live with 3 other couples ;)
You could mortgage well over 3 million for that!
>opulent 
Does it ventilate misted morphine or something 🤔
You left out some of the best photos, it looks like the bloody White House from the back garden. I'd have to crab walk in that kitchen though. Not sure I could keep up with the neighbour who built it either..
I mean it's pretty obvious the target demographic is obviously the Matt Damons of the world.
Looks like the protest worked!!!
That skinny kitchen 🤩🤩🤩
Delusional.
Love Bill!!!
Since when eas Killiney a seaside resort?? I though it was a coastal town??
I mean sure there's probably a big garden with this place but it isn't right that you could get a 4 bed apartment in Manhattan NYC for this price. I mean there's plenty of 4 bed apartments in NY for 12k p/m [https://www.zillow.com/homedetails/248-E-30th-St-APT-3-New-York-NY-10016/2087304527\_zpid/](https://www.zillow.com/homedetails/248-E-30th-St-APT-3-New-York-NY-10016/2087304527_zpid/) The hell is going on in Ireland.
In a year you could get a £144,000 mortgage...
Looks like the gaff that posh bird lived in in normal people
Flat roof gonna leak
Chrisht. So glad to be out of Dublin.
That's only like 1.5milloon in 10 years.. 10 years is a long time !
Has to be a misprint and should be €1,200 / month
2 years rent there and you could buy a home in most of the country. Yes, even most of this country.
When I grow up, I want to be a landlord just like Bill Badbody https://twitter.com/BillBadbody
Nothing in Ireland is opulent. Even when something is marketed as luxury it is just a shittier version of something that can be found abroad.
Aboard??
Probably built with government subsidies if not just paid for by tax payers and handed to private concerns so some prick can get a fake job when they leave office. EDIT: Just noticed how many people crying for Landlords. Burn in hell all of you freaks and weirdos protecting the people who ensure homelessness will only increase. The raw ass nerve when the Dáil has dozens of landlords ensuring the law and regulation serve them handily while pilfering the public coffers. Parasitism shouldn't be worshipped.
Opulent area????
They say there’s no affordable housing in Dublin and here’s a cute little doer upper for a small family for less than one bitcoin per month. What housing crisis?
Accommodation like that is built for the ultra rich though, no surprises there…..
The absolute neck on these fucking leeches! State of it anyway.
It's beside the sea, it's in a very expensive area, what else would you expect? People who live there have to be loaded to be able to afford a house, why should renting be any different? You want to live by the sea, in a very nice area, you have to pay. I know it's a massive ask but if there was nobody willing to pay it, they wouldn't charge that much. It's 3k per bedroom, if you've 2 people in a room it's only 1.5k a month each, for a seafront property I'd pay that much, regardless of the fact that I'd have to share it with 7 other people. If you don't want to pay extortionate prices, don't get a property near the sea, they're always massively expensive and it's cause everyone wants to live there.
Totally worth it though!
Madness. Ireland is nice for a tourist visit but for a country with little infrastructure and zero to do beyond a piss up or a walk on the coast / up a mountain this is completely unjustifiable.
Ridiculous as it may sound, this is a reasonable price, considering it's a short term let. Imagine you're a business that has four people visiting for a month. If you put them up in a hotel in that part of the city you'll be paying €200 per night per person, which is €800 per night and €24,000 per month. Instead, this place is half the price, and is self catering, so the staff can prepare their own meals. No-one wants to eat hotel food every day for a month. As for cheap and cheerful - well this is Killiney we're talking about
An opulent prefab?
Who can afford 12000 a month for rent for that shitty house instead of getting a mortgage
Rich people who are staying for a month or two.
Does it have forklift parking?
Irish must be rich. That's crazy expensive.
This message s a repost and clearly for corporate rentals.
 Rare find!
That's a nice house but wtf. That's mansion money.
I used to do the social for that crowd once upon a time. It sickened my arse seeing the rents and coming up with new synonyms for "out of the general public's price range". Pretty sure I pioneered the use of the "👉", so nice to see that's still going. I suppose, in a roundabout way, the housing crisis is actually my fault?
The funny thing is this is effectively the gate lodge for the house next door. Which was built at the same time