Is That Your Final Offer?

at

house

Fupping better be, in fairness.

A dispatch from the rental front.

Aisling writes:

“Roommate and I are house hunting and saw a particular ad on Daft we liked that was in our price range so we arranged a viewing for today. Went to check its location on a map this morning and saw that the price had gone up by over €300 per month. I called to ask about the larger price and the person told me that it had always been that price and that “Daft had made an error” and that the person who made the appointment with me should have told me. He didn’t, though he somehow remembered to ask me to bring photo ID and my PPS number. Nobody will know because they took the ad down and renewed it completely, so Daft don’t have the price tracked like they usually do….”

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56 thoughts on “Is That Your Final Offer?

  1. Mulch

    This is the one point where the price tracker really falls down and landlords are copping on to it.
    If you pull the ad and re-load, there is no history to it, so it appears as if that what the rent was when first posted.
    Its only when you are looking in the areas a lot on daft and recognize a place that was there earlier in the month and could have sworn that it was at a lower price that you have any chance of avoiding them.

    1. Mulch

      By pull the ad, i mean have daft remove it and then submit it to them again to be posted at a later date.

    2. Paolo

      What’s your point though? Why is it important to see the price rise? The price is what it is. You are either willing and able to pay it or you are not. If nobody does then the price will drop.

      If I advertise a car in donedeal at one price and find that there is loads of interest then I am perfectly within my rights to increase the asking price (because I misjudged demand). Why should you expect anything different for a rental property?

      1. Mulch

        From a personal stance, i don’t want to feel like i’m getting shafted because some dopes talk about the ‘bubble being back ‘ and landlords lose the run of themselves. Also, any landlords i’ve dealt with are happy to raise the price, but are glacially slow on moving the rent down, if at all. I don’t want to have to think about having to move at the end of the lease because my dick landlord plays wheel of fortune when setting a rent amount p/m.
        Being able to see the price helps you get an idea of what type of landlord you are going to have to deal with.

  2. TrippyRez

    Wait – Daft don’t update the ads. They’re self serve. So whoever put the ad up put the wrong price up. Or rather they realised that they could get a lot more when their phone started to melt with all the calls coming in.

    1. Aisling Twomey

      Bingo. That’s what I imagine happened- and I didn’t appreciate being told that ‘X would have informed me’ and that it was ‘always that price’. I didn’t come down in the last shower.

  3. Sancho

    Just this in- landlord gets multiple offers on property from suitable tenants and decides to increase the rent. Omg!!!! Did this person consider calling the police to report this?

    1. Aisling Twomey

      No, because this person isn’t a dipstick. I could have understood fifty or a hundred quid. But three hundred and then lying about it? Hell to that.

          1. Sancho

            Yes. She deserves it. It’s a really stupid post. Landlord raises price because demand is up. When rents fell during the recession, I can imagine there were too many people advocating paying a higher than market rent because it would be fairer.

          2. Sancho

            She deserves it. It’s a really stupid post. Landlord raises price because demand is up. When rents fell during the recession, I can imagine there weren’t too many people advocating paying a higher than market rent because it would be fairer.

          3. Sidewinder

            She “deserves” it? Who ever earns someone being a dick to them without being a dick themselves. And I didn’t ask “are you a dick” or “does she deserve this” as your one word answer suggests. I asked why and “she deserves it” is in no way explanatory.

          4. Sancho

            You really need me to spell it out?! I think this whole story and complaint is utterly stupid. Landlord decides to increase rent (because likely he/she got loads of interest and realized he has priced it below market). Admittedly very frustrating for potential renters but landlord hasn’t done anything wrong. He is acting totally rationally. She writes to BS suggesting she has been wronged. Of course, she hasn’t. She then tells us he lied about the prior lower rent like it’s some kind of “gotcha” moment. Get a life. It’s such an ignorant, dishonest opinion. When she (or 90% of the other commenters here) ever invests their hard earned money in a property and rents it out, her opinion will change immediately and she’ll never remember this rubbish.

          5. Aisling

            I wrote to Broadsheet because I don’t think it’s fair to roll a load of bullshit out to customers in any trade and because I figured other people should be aware of the Daft-changing-prices-without-tracking thing. It must be great to live such a life of plenty that extortionate rent and an inflated rent market doesn’t bother you like it does the rest of us poor saps with things like limited time and budgets.

            But I am stupid and I ‘deserved it’, whatever ‘it’ is. I will duly think of my own ignorance and ‘dishonesty’ next time I contribute to a conversation that desperately needs to be had on a national level.

            Don’t blame those of us who didn’t make the problem in the first place when we’re trying to keep other people informed of the horseshit, thanks.

    1. Paolo

      Why is the land lord greedy? What price should he rent it for? Nobody is being forced to rent it. Presumably, the property has cost the land lord hundreds of thousands of euros.

      In general, if you sell something, do you not try to achieve the highest price possible?

        1. Louis Lefronde

          Did you ever consider that greed has a negative economic cost? For example the landlord buys the property with a loan, he makes his profit by renting the property above the mortgage. Nothing wrong with that. That’s business. But consider the following, an apartment is renting for 1000 per month – the loan for argument sake is 700. The landlord feels he can get more, so notifies the tenant that there is going to be a rent increase. Now the tenant has an option pay more or leave and find another apartment. Simultaneously across the city, other landlords are following suit and doing the same thing – the cost of renting gets higher. This presents the would-be tenant with a difficulty, swallow the increased rental price and pay more – consequently spend less elsewhere. If the rental price continues to increase somewhat irrationally on the pretext of the landlords believing they can get more – then tenant more often than not on fixed salary and declining purchasing power will require higher pay from his employer – who in turn will have to source higher revenues in order to pay the addition. What you have is an inflation cycle.

          But let’s add an additional factor into the equation, the landlord seeking to maximise more profit (again nothing wrong with this in theory) starts buying additional houses with the added advantage of having a ready supply of capital – is competing against would be buyers who want a home (in other words not rent) This is speculation. Again we see house price inflation as people are forced to compete quite often against speculators to gain a foot on the property ladder. (2000’s all over again)

          With profits to be made, capital is made available to build more houses. More are built until demand is either met to restore equilibrium in the rental / purchasing market or exceeded – once it is exceeded which is the inevitable result the increased prices are no longer sustainable because of excessive supply. Here is where the bubble usually bursts. Greed usually knows no limit until it has eaten itself alive.

          While not being a socialist and not fully sold on the idea of rent controls – they may be one of the few mechanisms for controlling overheating in the rental market which down the road leads to the same sort of catastrophe that occurred back in 2008. Remember, although the media are hyping the market again (advertising revenue from property) and landlords see an opportunity for making more profit (short-term) we are still carrying the legacy debt. That said, inflation does reduce the overall debt over time which is not entirely a bad thing – but it also has the negative effect of making the whole economy more expensive and increasing the cost base (disincentive and uncompetitive)

          So while at a micro level it may benefit the short-term mindset of more money in the landlord’s pocket (greed) the macro effect in the medium to long term has severe consequence. But then others would disagree as economics is one of nebulous disciplines which is prone to disagreement.

    1. stev

      No, most residential landlords in this country are blood sucking pimples in the arse crack of society. More bashing please. Might help wake us all up from the collective stupor that is our property market/industry/trap/scam.

      1. Alan

        Well, don’t let the facts get in the way of your opinion. Most landlords in this country are normal folk who own exactly 1 rental property, bought as ‘an investment’ when banks and the government were making it ridiculously easy. Now that the bubble has popped, they are stuck with them and can’t sell them due to negative equity and/or a lack of mortgages for buyers. If these landlords have a job, then they are paying 50% of the incoming rent directly back in income tax, so they are probably having to supplement the mortgage out of their own pockets. To recap, most landlords are in a crap position, albeit a less-crap position than those renting. This shouldn’t be a surprise to anyone, it’s just the details behind this country being completely fecked up financially.

  4. Wabber

    So many manky unwanted leather couches in rental gaffs. What’s the story with nearly all Irish rentals being furnished? Anyone else think its odd that you’d potentially live in a place for a number of years and not have your own furniture.

    1. Kieran NYC

      +1

      Grand if you’re a student, but otherwise it’s a bit weird.

      Come rent this house and use our cheap second-hand furniture!

  5. Louis Lefronde

    Look, we don’t have our own central bank to control interest rates which was the traditional mechanism for controlling inflation. If inflation which is historically quite low (at the moment) and rising – this raises the question – if inflation takes off, which is entirely possible, what mechanisms exist for cooling overheating (should it happen again) the answer is taxation. Higher taxation as a means to control inflation injures the overall economy, whereas rent controls in an overheating segment do not.

    Furthermore, its a given we have to build more houses to meet demand, but speculators need to be kept out of that market (tax them) this will help the economy progress without making some of the major policy mistakes of the last decade. Remember we still have the legacy debt, and the economic recovery of the last 18 months is not that robust (note the stagnating figures from the larger Eurozone countries)

    In terms of supply side, there is no shortage of zoned land on which to build in the Greater Dublin region and this is not lost on the likes of NAMA. Indeed in large areas of the country there is still excess capacity (but who wants to live there?) So the argument about supply and demand requires careful examination and scrutiny to see whether there is any market manipulation either at a micro and macro level. In other words are there anti-competitive practices at work (leaving aside irrational price matching or gouging)

    1. Paul Davis

      This mess has been created by the banning of bedsits and the cost of building shooting up due to new building regs.

      People wanted better accommodation for years and now wont pay for it.

      Reality check for the masses.

      The above comment about interest rates is actually the complete inverse, low rates would help investors to build more housing.

    2. Paul Davis

      This mess has been created by the banning of bedsits and the cost of building shooting up due to new building regs.

      People wanted better accommodation for years and now wont pay for it.

      Reality check for the masses.

      The above comment about interest rates is actually the complete inverse, low rates would help investors to build more housing.

      1. deliverancecountry

        This mess has been created by only building accommodation for families with 2.4 children and many 100s of thousands of these far from economic centres and outside recommended planning zones with proper infrastructure.
        (A tax break on apartment buildings instead of hotels may have been more useful although who knows what Kowloon-scale hell that would have unleashed.)
        The number of festering pits of despair cozy bedsits declared unfit for human habitation is far outweighed by the rotting estates down random boreens.
        It’s not a free market. The renters in Dublin are also part-paying for a two storey three bedroom semi-detached in the back of beyond.

    1. Kieran NYC

      You post the same comment on ever post about renting.

      You really DO want everyone living in crappy bedsits, don’t you?

      1. Paul Davis

        No, not at all.

        I just want people to realise they are the reason for the inflation in prices.

        A lot of people here seem to want to blame other forces.

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