Vulture funds start charging tenants for hot water to get around Rent certainty laws.

carlovian

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Jun 20, 2008
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5,272
Some of our lovely Vulture funds who have bought up our property on the cheap don't
like the rent certainty rules of 4% rental increases.

Solution ?

Start charging tenants a monthly charge for hot water.

https://www.irishtimes.com/news/politics/oireachtas/vulture-fund-dodges-laws-by-charging-extra-for-hot-water-1.3076910?mode=amp

FG have still not brought in the promised legislation on rental properties taken over by
a receiver for the banks.

Heres Jan O'Sullivan promising it in 2013.

Jan O

In the meantime its nice to see the Vulture funds and Receivers making huge profits from increasing
rents and evicting tenants.

Stay classy guys.
 


Joined
May 9, 2017
Messages
46
Some of our lovely Vulture funds who have bought up our property on the cheap don't
like the rent certainty rules of 4% rental increases.

Solution ?

Start charging tenants a monthly charge for hot water.


FG have still not brought in the promised legislation on rental properties taken over by
a receiver for the banks.

Heres Jan O'Sullivan promising it in 2013.


In the meantime its nice to see the Vulture funds and Receivers making huge profits from increasing
rents and evicting tenants.

Stay classy guys.
Disgusting but predictable. NAMA's remit is get as much back for the state as possible. If that means selling to Vulture Funds over Local Authorities to get a better deal that is what they will do. Take a bow Michael Noonan.
 

eoghanacht

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Capitalism; the mistaken belief that the most unscrupulous of men will act for the greater good.

St Noonan of Project Eagle.
 

Spanner Island

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You know I've said it since the first day I heard about NAMA and what it was proposed to be...

The Irish 'state/establishment' put in charge of the largest property portfolio in the world at the time...

'What could possibly go right?' I thought...

A scam if ever there was a scam... and so it is proving to be...

And if NAMA was in any way accountable and transparent and we knew the full extent of it there'd probably be riots going on...

There is a venal 'class' of self serving w*nker in Ireland... the members of which are the worst kind of sewer rats... prepared to crap all over their fellow citizens in order to enrich themselves...

This 'class' of rat probably exists in all societies to an extent. Sadly however, in Ireland they seem to be everywhere and operate with impunity because many of them are the 'establishment'.

As for Noonan... there aren't words really...
 

Watcher2

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Joined
May 2, 2010
Messages
34,341
Some of our lovely Vulture funds who have bought up our property on the cheap don't
like the rent certainty rules of 4% rental increases.

Solution ?

Start charging tenants a monthly charge for hot water.

https://www.irishtimes.com/news/politics/oireachtas/vulture-fund-dodges-laws-by-charging-extra-for-hot-water-1.3076910?mode=amp

FG have still not brought in the promised legislation on rental properties taken over by
a receiver for the banks.

Heres Jan O'Sullivan promising it in 2013.

Jan O

In the meantime its nice to see the Vulture funds and Receivers making huge profits from increasing
rents and evicting tenants.

Stay classy guys.
How can they charge for hot water? Aren't the units self contained?

Also, from where did Kenny get his €80bn valuation on the portfolio of NAMA?
 

carlovian

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Jun 20, 2008
Messages
5,272
How can they charge for hot water? Aren't the units self contained?

Also, from where did Kenny get his €80bn valuation on the portfolio of NAMA?
Very good question on the hot water. Next thing they will impose a roof charge ?

Where did Kenny get his figure of 80 billion ? Probably met 2 men in a pub.
 

bokuden

Well-known member
Joined
Sep 23, 2010
Messages
11,250
Some of our lovely Vulture funds who have bought up our property on the cheap don't
like the rent certainty rules of 4% rental increases.

Solution ?

Start charging tenants a monthly charge for hot water.

https://www.irishtimes.com/news/politics/oireachtas/vulture-fund-dodges-laws-by-charging-extra-for-hot-water-1.3076910?mode=amp

FG have still not brought in the promised legislation on rental properties taken over by
a receiver for the banks.

Heres Jan O'Sullivan promising it in 2013.

Jan O

In the meantime its nice to see the Vulture funds and Receivers making huge profits from increasing
rents and evicting tenants.

Stay classy guys.
You're all wrong. The REAL parasites arw people on the dole/ publuc servants/ people looking for local authority housing etc.
 

carlovian

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Jun 20, 2008
Messages
5,272
You're all wrong. The REAL parasites arw people on the dole/ publuc servants/ people looking for local authority housing etc.
Its ok. Leo is going to name and shame them while ignoring all this boring property stuff.
 

Watcher2

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May 2, 2010
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Very good question on the hot water. Next thing they will impose a roof charge ?

Where did Kenny get his figure of 80 billion ? Probably met 2 men in a pub.
Will he deploy the army to protect the water heaters?
 

mr_anderson

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Messages
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disgusting but predictable. Nama's remit is get as much back for the state as possible. If that means selling to vulture funds over local authorities to get a better deal that is what they will do. Take a bow brian lenihan.

ftfy.
 

Roll_On

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Messages
17,544
I don't follow, apartments in Ireland are almost all self contained units with their own boilers. Tenants pay utility bills for their gas and electricity, don't see how such a charge could be applied. It's probably just fantasy.
 

Spanner Island

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Messages
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Disgusting but predictable. NAMA's remit is get as much back for the state as possible. If that means selling to Vulture Funds over Local Authorities to get a better deal that is what they will do. Take a bow Michael Noonan.
The problem is however, that the snippets of info we are getting suggest that NAMA didn't get as much back for the 'people of Ireland' (who are footing the bills) as it could have...

The creeping suspicion is that a load of 'sweetheart deals' have been going on and that nowhere near maximum value has been realised in many cases...

The creeping suspicion is that portfolios were packaged into massive chunks that only vulture funds could finance and that this was done deliberately... and that the people of Ireland have been financially raped as a result... yet again.

The question is by whom... our own lot or by vulture funds who ran rings around them.

I suspect both tbh.

Of course if NAMA was open and transparent and accountable we'd know the full story... but it's not... which are all reasons that justifiably raise further suspicions about NAMA.
 
Last edited:

Emily Davison

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Jun 9, 2013
Messages
30,476
Where is the proof that the VF is charging for hot water. It doesn't make any sense.

I see nothing wrong with NAMA selling an entire block instead of selling 'some' apartments to the council.
 
Joined
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Messages
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The problem is however, that the snippets of info we are getting suggest that NAMA didn't get as much back for the 'people of Ireland' (who are footing the bills) as it could have...

The creeping suspicion is that a load of 'sweetheart deals' have been going on and that nowhere near maximum value has been realised in many cases...

The creeping suspicion is that portfolios were packaged into massive chunks that only vulture funds could finance and that this was done deliberately... and that the people of Ireland have been financially raped as a result... yet again.

The question is by whom... our own lot or by vulture funds who ran rings around them.

I suspect both tbh.

Of course if NAMA was open and transparent and accountable we'd know the full story... but it's not... which are all reasons that justifiably raise further suspicions about NAMA.
Commercial sensitivity don't you know.
 

sadcitizen

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Sep 27, 2011
Messages
4,271
IF it's true then it's really disgusting. The opacity with which NAMA has dealt with vulture funds, and funds dealt with tenants, was already scandalous.

If we're going to live in a banana republic then I think I'd rather it was a Duterte style one, wherein these properties would be forcibly removed from funds and the people involved never set foot on Irish soil again. You don't know where you are with halfway corruption.
 

Disillusioned democrat

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Obviously the "charity" status of the vulture funds doesn't extend beyond their tax arrangements.
 

hammer

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Can any business now apply for "charity" status.

It is scandalous.

Revenue need to reverse this.
 

EUrJokingMeRight

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I believe select members of FF and FG were part of an investment advisory panel that had a word in Irelands largest vulture fund beneficiary to charge renters an extra supplementary charge based on window size, ie if you had more natural light come into your house you were charged more. But I think the vulture fund in question thought that hot water would cause less of a PR problem.
 

hammer

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I believe select members of FF and FG were part of an investment advisory panel that had a word in Irelands largest vulture fund beneficiary to charge renters an extra supplementary charge based on window size, ie if you had more natural light come into your house you were charged more. But I think the vulture fund in question thought that hot water would cause less of a PR problem.
Refuse to pay so. ( P.ie moans )

How long does it take for someone to be removed under PRTB legislation ?

9 months ++
 

EUrJokingMeRight

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Refuse to pay so. ( P.ie moans )

How long does it take for someone to be removed under PRTB legislation ?

9 months ++
What was the perceived problem with Irish people getting access to properties on the cheap in the first instance again?
 


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