6 thoughts on “Critical

  1. Brian

    Bemoan the lack of rental accommodation. But also lose our poo when investment funds build apartment blocks for rent. I’m sure a few years ago there was a lot of talk about encouraging a more vibrant rental sector like they have in Paris and moving away from everyone having a massive desire to own thier own home. What ever happened to that.

    1. paul

      it’d be easier to have a long-term rental sector if landlords and renting companies weren’t trying to squeeze every last cent from their tenants. Long term renting is only viable if a tenant is spending an affordable proportion of their earnings on their rent. People blowing over half their paycheque on rent before bills is not affordable.

      I wouldn’t be surprised if a part of this drop in available rental properties is renting companies withdrawing parts of their portfolio from the market to drive up the price and then re-enter the market when everyone is nice and desperate.

    2. Termagant

      Can you point out which apartment blocks were built by investment funds
      I’m pretty sure they just buy out the existing supply, I don’t think people would have a problem if they built them themselves.

  2. scottser

    can’t remember who said it on here, but they’re right. it’s not a crisis, as a crisis implies forces outside of one’s control when in fact it’s a concerted policy by government to increase the profits of landlords, investors, banks and developers. and it’s working beautifully for them.

  3. John F

    Where is this information sourced?

    The largest source of rental properties in this state is small, private landlords. They are charged full income tax, usc, prsi on any rent received, in addition to all the stealth taxes and charges. They are liable for any interest payments on the mortgage for the property, all maintenance and management fees, local property tax.
    The cost of maintaining a place is going up, the LPT is going up, insurance is not coming down.
    Small private landlords are fleeing the market because it is stacked against them. Do you think that when properties he are sold, they end up back on the rental market?
    Landlords have ever gotten the dirt kicked out of them at every turn. Every week there is some new regulation, the large REIT investors can employ teams of lawyers to get around them. The small landlord with one or 2 houses can’t.
    If a tenant vandalizes a property or refuses to pay rent, there is very little the small landlord can do except go through the legal system, which costs money and takes years. There are no state supports.
    The numbers of landlords getting out of the property market will only increase.

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