You may have read in the last few days about an ingenious ruse being run by high-end institutional landlords in Dublin. In short, unable to fill their properties at the high rent being advertised, they’ll secretly take tenants with an ‘incentivised rate’ while leaving the higher ‘official’ rate on the lease, and disclosing that higher rate to the authorities – and to their own shareholders, who then believe they have a more valuable asset.
Those who believe in the free market as a solution to all economic quandaries will have you believe that this is all routine: the market could not sustain higher rents, and so it is now offering lower ones. This would be true if the market was fully transparent: if everyone else could see the rents falling, they’d react accordingly. Instead what we
Continue reading this atricle at https://www.meathchronicle.ie/2021/04/30/gavan-reilly-its-not-just-elite-tenants-being-stung-by-high-rent-ruse/