The Dublin Inquirer reports:
Back in November 2012, Threshold estimated that landlords were keeping deposits worth up to €2million.
Today, it estimates that the amount of tenant-deposit money being held by landlords could be €700million, a spokesperson says.
“Which is an extraordinary sum largely belonging to people of modest or moderate incomes.”
There’s still a need, they said, for a deposit scheme to make sure tenants who have done nothing wrong get their deposits back.
Sponsored Link
Remember Vulture funds want that money and our government will do everything to help them..
Highly dubious statistic. One-month deposit is generally standard.
€700m divided by approx 200k private rentals would be €3500 per deposit.
Average monthly rent is less than €1500 I think, so deposit about the same.
Legal framework (and banks) should provided for escrow accounts as standard for rental deposits.
Your figures are wrong. There were 326,493 households renting from landlord or voluntary bodies (excluding local authorities) in the 2016 census. Households include people in shared accommodation where 4 or more adults could be paying 800 per room.
“Back in November 2012, Threshold estimated that landlords were keeping deposits worth up to €2 million, a spokesperson for the housing charity said. Today, it estimates that the amount of tenan-deposit money being held by landlords could be €700 million, they said. “Which is an extraordinary sum largely belonging to people of modest or moderate incomes.”
there’s a huge whiff of bullpoo on how that figure has been calculated? the number of tenancies in ireland hasn’t risen by that much, nor has the average monthly rent risen by that quantum. I suspect it’s not comparing like with like.
there’s approx 310k tenancies in Ireland and an average rent of 1,100euro would be 340mln euro. They’ve just doubled that figure for dramatic effect when 2 months rent as deposit is not the norm. Not all renters have modest incomes anyway and even if there was a central depositary for it they’d still have to give up the money.
There is more than one rental agreement per household as a household is an group of people sharing a kitchen. This means a house share where four people rent a room from the landlord is a single household but 4 different rental agreements contributing to that average. Average rent is not average rent per household.
I was using a standardised average rent provided by the RTB report which is on a per tenancy basis
And there can be more than one tenancy per household.
Ah sure just round it up to 1 billion, no, 1.2 billion sounds better. Its not like anyone can do anything with this information anyway ,even if it was accurate which it isn’t, by a factor of 100% like you point out. Its just a cooked up story on a slow news day. Plus its a case by case problem that people can sort themselves with a bit of half bluffing threatening behavior. When it comes to deposits, you need to point out the unfairness to a landlord withholding the deposit for flaky reasons , usually its just because they don’t have the cash to hand because they spent the money on a daughters sweet sixteenth or their wife’s maxed out credit card for shoes. “That’s fine mr ex-landlord see you around , you keep the grand, nice car by the way , be a shame if anything might happen to it in a few months time..” They’ll hand the money over if they know your not soft enough to take any crap. I had a friend who, when he dropped the keys back to his ex landlord two weeks after he moved out and to get his €1000 back was told he would only get €700 back because he was a few days late getting the keys back, (my friend was busy moving into his new house and is wife had her first baby a few days before so he was ..you know.. kind of busy) The landlord lived next door and his own keys to access the vacant property anyway, so his reasoning ,hitting my friend with a cash penalty was bizarre. Needless to say by friend told him he had better get the full amount in 30 seconds flat of there would be trouble. He got the full amount. The trick #1 is to know where your landlord lives and to remind him/her off that, #2 make sure they don’t know where you have moved too, (when your moving , give a specific street name that’s nowhere near where your actually moving to, when they are all friendly chatting away when you give your notice, they are just trying to get information, they aren’t your friend, ) incase you actually have to follow through with a dead of night tyre slash or something. You might never get the amount back that you were owed but you can sure as hell cause the scab the amount in damages plus interest a few months later and they will never find you. Now that I think of it, a burner phone should be used when forming a relationship with any new landlord. Get rid of it as soon as you move out. I suppose current tenants who are thinking of moving out next year might be able to “lose” their phone and give Mr landlord there “new” number. If anything happens to the landlords car or front windows there nothing they can do , the police cant to do anything with no proof. In this day and age you probably wont be working in the same job so they cant track you themselves to your job either (provided you were stupid enough to give them your actual place of work in the first place and not a fake company when signing the initial lease agreement) . In fact, after you change /lose job is the best time to take revenge. So for new tenants . give Mr. landlord your burner phone number , fake previous address’, if it comes up in conversation, fake place of work. and your all set.!! I know this all seems conniving , BUT don’t think for a second that amateur landlords don’t get together and exchange stories and ways to mine information from there tenants and figure out ways to keep the deposits unfairly.
Who is going to pay for a deposit scheme?
You, Cian. They’ve decided you’ll be taking the hit for all of us.