PayPal staff facing Dundalk rental crisis
Staff being asked to rent out rooms to employees
PAYPAL Ireland boss Louise Phelan has revealed a rental crisis in Dundalk so serious that staff are being asked if they will rent out rooms in their home to new employees.
PayPal, which employs some 2,400 people in Dublin and Dundalk, has resorted to making the request from their staff because of the dire shortage of homes and apartments to rent.
Speaking at the Construction Industry Federation annual conference, Ms Phelan warned the situation was now ‘at crisis point’ and was at the stage where Ireland would lose foreign direct investment and the crucial jobs that come with it.
She explained that the problem has become so acute that PayPal is forking out as much as €2,000 extra for new employees coming to Ireland to pay for a hotel when they arrive.
‘Our greatest challenge today is rental property,’ Ms Phelan said.
PayPal staff here overwhelmingly need a foreign language, making it necessary to bring in staff from outside Ireland.
‘Property prices are a consistent problem for my teammates trying to find somewhere to live. In terms of housing, I’m asking all teammates in Dundalk to see will they rent rooms for teammates that I am bringing in from 26 countries because they can’t get accommodation,’ she added.
Brian Carroll, Sherry Fitzgerald Carroll agreed that the issue has become a major problem.
‘Locally we continue to see the shortage of housing supply affecting both the sale and rental market resulting in price increases in both sectors.’
And he added there didn’t appear to be an early solution in sight, with only a slight improvement in the overall property market in Dundalk.
‘ The recent small price increases in the sale prices of new homes is still not significant enough to make new house building feasible in most parts of Dundalk Town.’
Meanwhile, the Paypal boss outlined the costs the company are facing as a result of the rental crisis.
‘ Today I am paying €2,000 upfront to people coming into Ireland to put them into hotels so I can get a chance to get them residential accommodation.’
‘It used to be about how many people I can hire. Now it’s about how many people I can hire and get schools for their families and get into a home.
‘So the whole mindset is changing and if we can’t deliver the after-care, we can’t bring jobs here. That’s the reality.’