WITH houses in Limerick already being rented for big money ahead of the Ryder Cup at Adare Manor in 2027, concern has been raised about the impact this is having on the current rental crisis.
Properties, ranging from a two-bed apartment in Dooradoyle, to a four-bedroom house in Patrickswell, are being rented out for anywhere between €20,000 to €55,000 before the competition tees off in five years time.
At least 50 County Limerick properties have now been snapped up by the American corporate market ahead of the Ryder Cup.
Labour Party councillor Conor Sheehan has expressed concern that this sort of demand will impact the current rental crisis in Limerick where there are less than 17 long-term rental properties currently on the Daft.ie property website, and over 117 short term rentals.
“The Ryder Cup is a fantastic event that will hopefully generate a surge for the local economy. Advertising houses for up to €100,000 for two weeks seems insane, but such an occasion brings such an influx of people, both nationally and internationally that the demand for short term accommodation will be very high,” he told the Limerick Post.
“We are in the middle of an unprecedented housing crisis and part of solving that means ending the use of hotels as homes. The failure to properly regulate short term lets means properties that could be used as homes for those struggling to a roof over their head are removed from the market.
“No one is talking about banning short-lets. Short term lets can be a convenient way for people to make some extra money income from living spaces they aren’t using, but I believe hosts should have to register with the local authority to ensure that this is done in a properly managed responsible manner,” he concluded.