Housing crisis | 

Daragh Keany: I’m a landlord in Ireland– but I’m no Robert Troy

“But guess what? I’m not a complete d*ckhead. I’m not sitting in a plush gold-plated mansion counting the profits of a property empire.”

Robert Troy. Picture by Gareth Chaney/Collins

Daragh KeanySunday World

I’m a landlord and I wish I wasn’t. But I am; so I live with it.

I have an apartment that is in such financial negative equity that if I sold it now I would lose over €100k. And I’ve owned it for 16 years.

The rent coming in each month doesn’t cover the mortgage let alone the extortionate and nonsensical management fees.

That rent by the way is closely controlled by the strict rules laid down by the Residential Tenancies Board so I can’t get close to receiving ‘market value’ for it.

Households have been pushed to breaking point by regular price hikes. Photo: Stock image

But guess what? I’m not a complete d*ckhead. I’m not sitting in a plush gold-plated mansion counting the profits of a property empire.

I am not an ‘accidental landlord’ either. I knew what I was doing when I bought it in 2006. Would I change my mind if I could go back in time? Of course I would.

Will I sell it as soon as it breaks even (I estimate 2030, by the way) and doesn’t eat into savings? Of course I will.

My point is…the fiasco over the last two weeks surrounding Junior Minister Robert Troy may well have been justified, but the parallel narrative that all landlords are money-hungry Scrooge McDuck-type characters is a nonsense too.

Of course some landlords are. I actually know a few who should hang their head in shame. But we’re not all bad and some of us will be paying for our misguided decision (escalated by the banks I might add) for years to come.


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