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How many current TD's are landlords?

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Jack Charlton
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sausy Quote  Post ReplyReply Direct Link To This Post Posted: 29 Jun 2022 at 10:37am
Originally posted by MayoMark MayoMark wrote:

I'd be all for a use it or lose it law!! CPO the f**kers. Properties on main streets deteriorating and, in some cases, having to have netting installed to stop falling pieces from hitting pedestrians. Absolutely ridiculous.
 
I wonder what percentage of those properties are on the market but getting zero interest due to the works involved to turn them back around into places people could live. Could be difficult to value for CPO purposes too.
 
But as already said a lot of these properties are in places people don't want to relocate to. Ignoring 200 year old main street places I wonder what the ghost estate situation is currently like.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Baldrick Quote  Post ReplyReply Direct Link To This Post Posted: 29 Jun 2022 at 10:53am
that’s exactly it sausy.  You own a property in a town that requires major work to comply with health and safety and fire regulations etc and the demand for rental there would not pay you to spend all that money to renovate the house and you can find a better location for that money that will give you a better ROI. As a result the house is left.  

Someone who has the property but does not have the means to renovate.  Should they have the property taken off them by the state or should they pay high taxes on a derelict property they can’t use or renovate.  No easy answers that’s for sure and there will be lots of hard case stories.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 29 Jun 2022 at 11:19am
Originally posted by MayoMark MayoMark wrote:

Aren't most of these empty homes in places where there isn't a homelessness crisis?

I'm not sure many people want to be uprooted and shipped to rural Mayo, Leitrim or Roscommon. Although I could be wrong.

There are a ball of empty properties in the centre of Castlebar, and Claremorris and Swinford where I work. It would be fantastic to see them occupied, it would be great for struggling town centres to have people living there. 


Yeah, I can't link to it here but there's a good economist @seamuscoffey that goes through the data well on Twitter. Have a look for his tweet 5 days ago that starts with the bar chart, you might have 5%of the housing stock in Roscommon Leitrim etc vacant but that's off a low base. Less than 1% vacant in Dublin, so the state average is about 2%.

Then that number doesn't account for reason of vacancy, just that there was nobody there on census night, of the 30k vacant in Dublin for example...
- 4k for sale
- 5k being renovated
- 3k residents in hospital
- 3k recently deceased
- 1k new builds awaiting occupancy

So it's probably half of the headline figures are really long term vacancy
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MayoMark Quote  Post ReplyReply Direct Link To This Post Posted: 29 Jun 2022 at 11:36am
Just in terms of the towns I mentioned above, property in town centres in need of renovation get huge interest and sell very easily.

And a huge amount of the bigger town centre properties have been bought up by consortiums over the last number of years as investments etc and have just left the property to rot. I honestly think it's out of order. If there is a solid plan, fair enough. By 5, 10 years sitting idle isn't good enough. Especially when the properties are literally rotting in front of our eyes. 

@ Sausy, I don't think it's difficult to value these properties at all. Plenty of comparables available.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MayoMark Quote  Post ReplyReply Direct Link To This Post Posted: 29 Jun 2022 at 11:38am
Originally posted by Shedite Shedite wrote:

Originally posted by MayoMark MayoMark wrote:

Aren't most of these empty homes in places where there isn't a homelessness crisis?

I'm not sure many people want to be uprooted and shipped to rural Mayo, Leitrim or Roscommon. Although I could be wrong.

There are a ball of empty properties in the centre of Castlebar, and Claremorris and Swinford where I work. It would be fantastic to see them occupied, it would be great for struggling town centres to have people living there. 


Yeah, I can't link to it here but there's a good economist @seamuscoffey that goes through the data well on Twitter. Have a look for his tweet 5 days ago that starts with the bar chart, you might have 5%of the housing stock in Roscommon Leitrim etc vacant but that's off a low base. Less than 1% vacant in Dublin, so the state average is about 2%.

Then that number doesn't account for reason of vacancy, just that there was nobody there on census night, of the 30k vacant in Dublin for example...
- 4k for sale
- 5k being renovated
- 3k residents in hospital
- 3k recently deceased
- 1k new builds awaiting occupancy

So it's probably half of the headline figures are really long term vacancy

Really interesting numbers and just shows these things are never black and white.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sausy Quote  Post ReplyReply Direct Link To This Post Posted: 29 Jun 2022 at 12:10pm
Originally posted by MayoMark MayoMark wrote:

Just in terms of the towns I mentioned above, property in town centres in need of renovation get huge interest and sell very easily.

And a huge amount of the bigger town centre properties have been bought up by consortiums over the last number of years as investments etc and have just left the property to rot. I honestly think it's out of order. If there is a solid plan, fair enough. By 5, 10 years sitting idle isn't good enough. Especially when the properties are literally rotting in front of our eyes. 

@ Sausy, I don't think it's difficult to value these properties at all. Plenty of comparables available.
 
If there are multiple empty main street properties for sale in the same town not selling then it would be difficult to value. But getting into commercial property valuations is going off track a bit here.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MayoMark Quote  Post ReplyReply Direct Link To This Post Posted: 29 Jun 2022 at 1:14pm
In the towns I mentioned, town centre properties don't sit there if for sale, they sell pretty well!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Given's zimmerframe Quote  Post ReplyReply Direct Link To This Post Posted: 30 Jun 2022 at 7:55am
In the rural town I live in many of the main street properties are empty and rotting, when one is put up for sale, it sells almost immediately, sometimes the first time I notice the for sale sign it already has sale agreed slapped on it. If you owned a main street property that was too expensive to get in order, why would you not sell it?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 30 Jun 2022 at 8:50am
Originally posted by Given's zimmerframe Given's zimmerframe wrote:

In the rural town I live in many of the main street properties are empty and rotting, when one is put up for sale, it sells almost immediately, sometimes the first time I notice the for sale sign it already has sale agreed slapped on it. If you owned a main street property that was too expensive to get in order, why would you not sell it?
I inherited one in West Clare, left by gran-aunts to all the cousins. The legal and paperwork required took us about 10 years to get off our hands. Most houses have folio details, title deeds etc, not our one that was built in the 1800's
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Given's zimmerframe Quote  Post ReplyReply Direct Link To This Post Posted: 30 Jun 2022 at 9:25am
Originally posted by Shedite Shedite wrote:

Originally posted by Given's zimmerframe Given's zimmerframe wrote:

In the rural town I live in many of the main street properties are empty and rotting, when one is put up for sale, it sells almost immediately, sometimes the first time I notice the for sale sign it already has sale agreed slapped on it. If you owned a main street property that was too expensive to get in order, why would you not sell it?
I inherited one in West Clare, left by gran-aunts to all the cousins. The legal and paperwork required took us about 10 years to get off our hands. Most houses have folio details, title deeds etc, not our one that was built in the 1800's

Why did it take so long to sell? Did you all want to sell straight away after inheriting?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sausy Quote  Post ReplyReply Direct Link To This Post Posted: 30 Jun 2022 at 10:19am
Originally posted by Shedite Shedite wrote:

Originally posted by Given's zimmerframe Given's zimmerframe wrote:

In the rural town I live in many of the main street properties are empty and rotting, when one is put up for sale, it sells almost immediately, sometimes the first time I notice the for sale sign it already has sale agreed slapped on it. If you owned a main street property that was too expensive to get in order, why would you not sell it?
I inherited one in West Clare, left by gran-aunts to all the cousins. The legal and paperwork required took us about 10 years to get off our hands. Most houses have folio details, title deeds etc, not our one that was built in the 1800's
 
Outside of probate I have dealt with the purchase of a few in work and everyone has been a disaster. Reconstruction of deeds, endless qualifications on title, rights of way/easements over what is always a massive rear garden etc.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Shedite Quote  Post ReplyReply Direct Link To This Post Posted: 30 Jun 2022 at 10:46am
Originally posted by Given's zimmerframe Given's zimmerframe wrote:

Originally posted by Shedite Shedite wrote:

Originally posted by Given's zimmerframe Given's zimmerframe wrote:

In the rural town I live in many of the main street properties are empty and rotting, when one is put up for sale, it sells almost immediately, sometimes the first time I notice the for sale sign it already has sale agreed slapped on it. If you owned a main street property that was too expensive to get in order, why would you not sell it?
I inherited one in West Clare, left by gran-aunts to all the cousins. The legal and paperwork required took us about 10 years to get off our hands. Most houses have folio details, title deeds etc, not our one that was built in the 1800's

Why did it take so long to sell? Did you all want to sell straight away after inheriting?
Mainly what Sauscy said, lots of legal issues to sort out, seemed to be never-ending.

And yeah, all 5 cousins wanted out once we inherited it. Between legal and tax bills on it, house sold for 120, ended up with a bout 10k each, 
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