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50% rent increase demanded of pensioners

THE unpredictability faced by people in private rented accommodation has been illustrated by the case of an Ennis couple who were told the rent for their apartment would be increasing by an incredible 50%. Pensioners Hilari Hinnant and Greg Miller rent a one-bedroom apartment at Parnell Street and on July 11 they received a letter from a representative of their landlord, informing them the rent would be going up from €400 to €600 a month. In certain parts of the country, designated rent pressure zones, prices may only rise by a maximum of 4% per annum, but no part of Clare is included, meaning tenants here can see prices rise by any amount. The letter to the couple informing them of the rent increase stated “the new rent is not greater than the market rent, having regard to the other terms of the tenancy, and letting values of dwellings of a similar size, type and character to the dwelling that …

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Rents on upward trend in Clare

In the July-September period this year, the average rent in County Clare for newly registered properties with the Residential Tenancies Board (RTB) was €678. This was up €31 when compared to the average rent in Q2, 2017, which was €647, and is up €60 when compared to a year earlier, in Q3, 2016. This is according to the latest Residential Tenancies Board (RTB) Rent Index, which is produced in conjunction with the Economic and Social Research Institute (ESRI). The RTB Rent Index is the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland as it is based on data from all new tenancy agreements registered with the RTB nationally in Q3 this year. In total 29,528 new tenancies nationally were registered in Q3, this represents an increase of over 6,000 registrations since the previous quarter. Rents are highest in Dublin, the surrounding counties and larger urban counties such as Cork, Galway and Limerick. …

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Private dwelling rent in Clare rises

The average rent for all dwellings in the private sector in Clare in the second quarter of 2016, and which were registered with the Residential Tenancies Board (RTB), was €554. This was up €9 when compared to the average rent in Q1, 2016, when the amount was €545, and was up €36 when compared to a year earlier, in Q2, 2015. This data comes from the RTB’s Quarterly Rent Index, which is compiled by the Economic and Social Research Institute (ESRI) on behalf of the RTB. It is the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland. This is because it is based on 22,103 new tenancies which commenced in April, May and June this year, and which were registered with the RTB. It reflects the actual rents being paid, according to the RTB’s records, as distinct from the asking or advertised rent. On an annual basis, nationally, rents were 9.9% higher …

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Cheaper to buy than rent in Clare

It is cheaper to buy rather than rent a house in County Clare, a scenario that would still prevail if current interest rates increased by 2%. This is outlined in a review of the residential property market by PIBA, the country’s largest group of financial brokers. PIBA also said the Central Bank’s excessive lending restrictions, along with the shortage of suitable properties to buy are creating “a lost generation robbed of the opportunity to buy their own homes”. This is a legacy likely to follow them down through the years in terms of their financial status, Rachel McGover, chief operations officer at the organisation, added. PIPA, which represents 900 member firms throughout the country said, “This week’s Daft.ie rent report for Q2 2016 provides the latest evidence that in several locations across the country it is cheaper, in some cases considerably so, to buy a property than rent one. “In what should be startling evidence for policy makers and the …

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Accusation of ‘massaging’ housing lists

Clare County Council has been accused of “massaging” official figures on its social housing list, amid growing concern of a 28% hike in applicants seeking local authority accommodation. Strategic policy committee chairman, Councillor Gerry Flynn, claimed official figures did not fully reflect the real social housing waiting list, which is already at “crisis point” and of “epidemic” proportions. Councillor Flynn claimed the council is “massaging” the overall figures due to the lack of a proper validation process, as applicants were knocked off the list if they didn’t respond to a council letter, asking them if they had a house. He believes an applicant should be left on a list unless the council has “concrete proof” they have obtained permanent accommodation. His charge coincides with a challenge from Housing Minister Paudie Coffey for the council and other local authorities to “step up to the plate” in terms of social housing provision. According to the most recent figures provided by the council, …

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Clare students face rent increases

There are almost 40% fewer properties available to rent compared to this time last year according to the latest quarterly Rental Report by Daft.ie. Nationally, rents have risen by over 10% in the space of 12 months, with the national average rent now €915 compared to €825 a year previously. This will seriously impact on Clare third level students seeking accommodation in towns and cities across the country. In Clare, rents were on average 2.2% higher in the second quarter of 2014 than a year previously. The average advertised rent is now €554, a fall of 27% from the peak. Rents rose in every county, bar Donegal, and all city centres experienced rises of between 3% in Waterford and 17% in Dublin. There are now 6,800 properties available to rent across the country, down from 11,000 in August 2013. Domhnall McGlacken-Byrne, Trinity College Dublin Students’ Union president has stated that this is a “source of alarm” for prospective tenants and suggested …

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Clare residential rents down

The average rent for all dwellings let in County Clare in the first quarter of this year, and which were registered with the Private Residential Tenancies Board (PRTB), was €513. That was actually a slight decrease (of 0.4) compared to the prevailing average rent in the first quarter of last year, when the amount was €517. These findings, announced on Wednesday,  are drawn from the PRTB’s Average Rent Dataset, which is part of a comprehensive Rent Index  compiled for the board by the Economic and Social Research Institute (ESRI). The average rent cited is based on rents registered with the PRTB for all dwelling types (houses and apartments; one, two or more rooms). However, if people are interested in seeing the rent that applies to different dwelling types (number of bedrooms) and for different locations, they can check this out at www.prtb.ie (click “rent index”) and go to the Average Rents in my Area (Dataset). Looking at the country as …

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Seanad supports rent review bill

RETAIL Excellence Ireland (REI) has  welcomed the Seanad’s support of an Upward Only Rent Review Bill, proposed by Senator Feargal Quinn. Ennis-based David Fitzsimons, chief executive, REI stated “This is a significant decision taken by members of the Seanad who are very aware of the untold damage being done to family businesses and jobs because of the continued existence of upward only rent review clauses. “The Bill proposed by Senator Quinn is very fair and balanced and provides for a temporary reduction in commercial rent to a market level. The Government will quote Constitutional issues however our Senior Council advice is clear that the Bill in no way undermines Constitutional property rights. It is a fact that many large private landlords and pension funds have refused to grant tenants any rent relief and have overseen a significant level of business failure and job loss,” he said. Mr Fitzsimons said the last six  years have proven that a cohort of landlords …

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