The converted shop on Bird Avenue, Dublin 14 on sale for €775,000
This morning.
Fed-up, rent-robbed student converts old sweet shop into luxury dwelling.
Now, why can’t you show the same ingenuity?
He got up off his behind and did something.
Instead of whinging.
I’ll save you the click. His Da is a developer. Nice try @Independent_ie Nice try. pic.twitter.com/26B89E9yV5
— Jennifer Canesten (@Jenni4Canesten) April 22, 2022
Ah.
Sponsored Link
”…and now you can pay even sillier money to own the renovated kip!”
So Stephen Kelly of moa.ie (which his dad owns) buys this 3 bed property in 2014 –
“I put in seven bedrooms because letting these to fellow students would pay the mortgage.”
Stephen presumably slept in one of these bedrooms so he rented 6 rooms in Windy Arbour Dundrum from 2014 – 2022. 8 years. Very nice little earner.
From the RTB website:
All private residential landlords, and landlords of Student Specific Accommodation must register their tenancies with the RTB.
2 bird avenue, Dublin 14. D14 A074 – not registered with the RTB – https://www.rtb.ie/check/index.html/
Hummmm what does Revenue think of that?
Live with landlord does not have to register.
Pays to know the rules.
That’s one way Jo the other is the creation of licences by a subletting ‘tenant’.
the total gross for rent a room scheme is €14,000 per annum.
in this case 6 rooms in Dublin 14 were generating how much per annum??
But without the RTB (the body mandated to hold the register of landlords) reporting to Revenue as to the rent value or indeed the number of rentable rooms in a property who will hold these landlords accountable?
answer: no one
…the rev has a rat sorry hot line for tips.
cry me a river over a bunch entitled UCD students that no doubt yummy mummy and daddy paid the rent for.
save your faux outrage.
its a good adaptive use of outdated, functionally obsolete space,surprised there are no tax breaks….
revenue has a handy online form as well: https://www.ros.ie/online-enquiry-web/goodCitizen;rjsessionid=712DDB41C855D254FDEF7A1B8064FBC2?execution=e1s1
“its a good adaptive use of outdated, functionally obsolete space”…. to covert into an unregulated, tax free cash cow.
Imagine calling a good citizen a rat!!
there is such a whiff of old ireland of ya,nasty nosy small minded begrudging paddy.
yeah,much better leave it vacant,never mind the multiplier effect of new development/renovation or the addition of high spending students,much better all boarded up and empty,like your mind.
You’re quite right Johnny. I’m old fashioned. I play by the rules & pay taxes and whats more I expect others to do the same. Crazy old me eh?
There’s a bit of a whiff off yourself Johnny. A whiff of a Kelly
“the multiplier effect of new development/renovation or the addition of high spending students” that’s very good!!
…don’t let me hold you back from doing your civic duty then and dropping a dime,sorry ratting him out to the revenue,how much income tax you think he owes based on the net operating income above ?
(assuming as a student its his only income)
€14,000 (@ €1166.66 per month) x 6 room = €83,999.520
assuming he can deduct one of those €14,000 = €83,999.520 – €14,000 = €69,999.52
how much income tax you think he owes based on the net operating income above ?
(assuming as a student its his only income)
please Johnny enlighten me.
So your assuming 100 occupancy and no costs or interest are deductible.
Hint-deductions from your gross number to get net,which is what is taxable.
Are light and heat free in old Ireland…..
What’s the basis for assuming each room generates 14,000 pa?
Do you be believe his taxable income here is 70,000 p.a
I am sure they will be in contact
Plus looking at the planning regulations for conversion from commercial to residential is another
And it makes me laugh developer who soaks his clients has son who says he is debt soaked victim
Nope, they have planning permission:
Permission for replacement of an existing shop front window and garage door with 2 no. new timber window/door panel screens and a new car parking space to the front of the premises and for the Retention of development comprising the conversion of the existing garage (12 sqm) and former retail/shop area (24 sqm) to residential use, 2 no. existing parking spaces and bin store to the front and side of the premises, reinstated side window to stair landing, a single storey extension to the rear (27 sqm) and rear boundary walls.
https://planning.agileapplications.ie/dunlaoghaire/application-details/68161
Cian: Condition on that planning application-
That the entire premises be used as a single dwelling unit and shall not be sub-divided in any manner or used as two or more separate habitable units. REASON: To prevent unauthorised development.
…and yet buckshee rented out the 7 bedrooms to ?number of students over 8 years
What is your point?
Was the premises sub-divided? No.
“I put in seven bedrooms because letting these to fellow students would pay the mortgage.” – Stephen Kelly
it was intentionally turned into a ‘co-living space’. It was divided into 7 units with shared facilities and furthermore these ‘lettings’ were never registered with the RTB so tenant rights are out the window as are how many ‘students’ rented here over 8 years or for how much???
That is my point. Do you see anything wrong with that material change of use Cian?
Both planning and the RTB have been sidestepped by declaring the property in residential use with reference to the rent a room scheme!! is that the scam?
I’ll go further Cian.
One could buy that property tomorrow and put a foreign language student couple into each room all sharing facilities like the UCD students before them. Charge a modest €1000 per room. Bingo €7000 a month (€84,000 per annum) in rental income.
Sure you’d pay a €775,000 mortgage off in no time.
And you’re trying to tell me that that’s not an unauthorised use????
spot on frank, even air b n b is a breach of planning.
Really? Looks like it is a house with 6 (or 7) bedrooms that are rented out. Just like many houses are rented out to groups of people. Does that need special planning permission? (no, it doesn’t)
This is not “sub divided”. There is not more than one “habitable unit”. (assuming the house matches the planning permission granted).
If Stephen was living in the house with them then it is a licence arrangement and is not covered by RTB.
https://www.rtb.ie/register-a-tenancy/is-your-property-exempt-from-registration
Cian that is precisely the problem. It doesn’t need planning permission because there is no HMO (house of multiple occupancy) legislation & it doesn’t need to be registered with the RTB again because there is no HMO regulation in this country.
Which means –
One could buy that property tomorrow and put a foreign language student couple into each room all sharing facilities like the UCD students before them. Charge a modest €1000 per room. Bingo €7000 a month (€84,000 per annum) in rental income.
Suddenly there is 14 people living on a footprint where perhaps 3-5 family members lived. That is a disaster for the neighbours
couda,shouda,wouda…..
but in the real world,none this is actually happening.
its for sale,vacant.
if you had any clue about this hood,which clearly,you dont,you would know the neighbors would be all over your fantastical half baked scheme and dream.
I’m from Dundrum Johnny. I know the ‘hood’ of windy arbour very well.
As Cian has so well illustrated even if the well healed residents of windy arbour or Bird Avenue wanted to do something about the 7 bed student accommodation there’s nothing they could do. It doesn’t need planning permission nor be registered with the RTB. Mister Kelly has ran it for 8 years and managed to do neither so the next owner I’m sure will do likewise.
…graet,then you would obv know its in Clonskeagh.
you are referring to what is now,today a vacant legally conforming 7 bed empty house.
you have no idea what the next owner is going do,but all your assumptions are based on what the prior owner/occupier did,in others words,ancient history.
..take your time on the tax question,net operating income is gross income less expenses.
Prosecute
News flash, anybody can become a developer.
Me thinks your name might be Stephen.
That’s why the taxpayer had to bail them out
Bird’s Nest Dupe!
Bought for €420,000 on 2014-08-12.
So, he managed to raise over €500,000 as a student?
AT least the Indo are keeping their journalism at it’s correct level, parallel with the gutter.
It’s great to see young people do well
The article says it’s No.2 Bird Avenue. But that’s not on the property price register. No. 1 is, which was sold in 2014 for €90k.
Oops, my mistake, it is up there, as bell posted above.
Still, why was the property next door so cheap?
This is everything that’s wrong with Irish media.
Typical Indo spindo.
what is a loan or mortgage ?
…it is/was asset backed lending,with an extremely reliable income stream,easiest ‘money’ to raise,like ever.
so where is the investmnent /gaff ?
d14-dundrum close UCD
grand so
who’s paying the loan
UCD students/parents or middle class irish parents.
who’s guarantying it-oh my da:)
how much you need ?
are you really still going rely on and believe FFG will provide housing ,no really…….anyway,who ever told you that fairly tale that life was ‘fair’,its not.
Still don’t see what the problem is
It’s great to see young people do well
entitled young lad gets a free gaff, turns it into a cash cow in contravention of planning permission, doesn’t pay tax on the profits and makes himself out to be an entrepreneur?
super.
*double thumbs up*
based on what?
– where was the planning permission broken?
– how do you know there was no tax paid?
Cian
– where was the planning permission broken?
Mister Kelly’s intention for the property was as the article says to let out the 7 bedrooms for profit.
However, Condition on that planning application-
That the entire premises be used as a single dwelling unit and shall not be sub-divided in any manner or used as two or more separate habitable units. REASON: To prevent unauthorised development.
– how do you know there was no tax paid?
We don’t know. Nobody knows because the many?? tenancies that were arranged over the 8 years of operation were not registered or accounted for by the RTB. AND THAT CIAN IS A MAJOR UNCLOSED LOOPHOLE.
It wasn’t subdivided. Individual rooms were let.
If the owner was living there it is not in scope for RTB.
And even if a landlord doesn’t register a property that they are supposed to, they may be tax compliant. Similarly, just registering with RTB doesn’t mean they are paying their tax.
Cian that is exactly how it’s done and both of the regulatory bodies (planning & RTB) have no power of enforcement. Have a read of the sanctions from the RTB. The most severe is €2500 and more often than not its a ‘warning letter’!!
Renting a house out in 6,7,8,9 bedrooms but classed as no change of use as its still one habitable unit is exactly how many landlords are gaming our purposely ineffective legislation. And worse still the occupants of these properties live under nebulous ‘house rules’ meaning they live under licence and can be turfed out over night.
Some young (dublin) students would have turned a gaff like this into a grow and trap house and make bank……
How does down zoning it from retail to resi violate planning,at best he’s non confirming.
Given some the comments above how come none his neighbors complained.
Hopefully he wasted and blew all the cash on drugs and alcohol,some gambling ….your only young once:)
Makes one really happy
Seems things are going back to when the Black and Tans were like what we see now
complaint to DLR lodged for breach of planning
on what grounds?
historic use,its vacant and for sale,but carry on,i mean you can read,right ?
I always thought planning laws were to ensure something is not used for the purpose of what it is classed as like a pub being used as a retail shop or a hotel used as a scrap yard or a shop used as accommodation or maybe a corner shop used as a night club
I assume the insurance also has to be for what it’s intended as as a shop not a rental accommodation
I always thought laws had to be abided by but hey Johnny you are the man
What breech of planning?
I’ve linked to the planning application above. In what way has that been breeched?
Oh the Shop Around the Corner’s just the same.
With the students tempted in if they are game.
It’s kinda like a HMO
If they don’t like it they can go,
Oh the Shop Around the Corner’s just the same.
‘Now does anybody have a funny incident to tell Mr.Crosby. ( No, not that one).
How exactly is his fancy electronic barrier supposed to work?