972 entire homes available for short-term rent, recent figures show
Just 45 entire properties available for long-term rent in entire county in March
Monday March 21: Short-term rental properties are on the rise and far outnumber suitable long-term options for private rental tenants. Multiple cases have been discovered throughout the country, including Galway, where landlords are leasing out suitable long-term rental properties as short-term stays for holidaymakers. In doing so, a majority can gain a far greater income.
This is despite regulations introduced in July 2019 that require homeowners in Rent Pressure Zones (RPZs) to apply to their local authority for planning permission to change property use to short-term lettings, where these letting types exceed 90 days in the year. All of Galway City, as well as the Athenry/Oranmore area and Gort and Kinvara areas are designated as Rent Pressure Zones.
Some properties located in these areas are designated holiday homes registered with Fáilte Ireland. However, a significant number of other short-term lets are potential long-term rental properties.
Research carried out by the national housing charity Threshold on AirDNA, a data collection website for short-term rental properties, shows that in December 2021 there were 1,525 listings of short-term stays in Galway City and county collectively. Of these, 972 were found to be entire homes. On March 16th, just 45 entire properties are available to rent in the entire county of Galway.
County wide challenge
One landlord offers over 20 properties in Galway City and surrounding suburbs. One property is a three-bed apartment costing €735 for a three-night minimum stay. In comparison, the nearest apartment to a central location available for long-term rent is a one-bed costing €1,430 per month.
A separate landlord offers over ten properties for short-term lets outside of Galway City, one of which is an entire home along the Galway coast that hosts up to 14 people. For a two-night stay, this property costs just shy of €1,500. However, the cheapest home which is a three-bed residence near this area costs €1,750 per month. The only other home near the area is a five-bed home, costing €2,000 per month.
In early March, there were 21 homes available to rent long-term in Galway City, with costs starting at €970 a month for a one-bed and up to €3,500 for a five-bed home. Only two homes were found to cost less than €1,000 a month, with a majority listed as over €1,500 per month.
Threshold’s Western Services Manager Karina Timothy stated:
“Quite frankly it’s appalling that such a high number of appropriate long-term homes are being leased out as short-term stays for holidaymakers. This is leaving private renters who are facing eviction with few options of alternative long-term accommodation. While regulations are in place for change of property use, it’s clear that there is a strong need for a greater enforcement of these regulations in order to resolve the problem of long-term rental property supply.“
Short-term property regulation
A new short-term let registration system is set to be launched by Fáilte Ireland early next year. This new system will mean that property owners must register the accommodation with Fáilte Ireland to let the home as a short-term holiday let. This forms part of the government’s Housing For All Plan, launched last September. Threshold hopes the Government will go one step further and place a responsibility on the letting platforms to require proof of registration before publishing the advertisement.
Karina Timothy added that: “While the short-term registration system with Fáilte Ireland will be of great benefit to landlords and holidaymakers, it’s really important that it is enforced correctly and regulated, or else we risk ending up in the same scenario again where long-term options become ones that are advertised as short-term.”
Threshold’s helpline is open Monday to Friday, 9am- 9pm at 1800 454 454, with webchat at www.threshold.ie/advice/help for any renter in need of advice or support.
