Fixed leases for tenants, more tax reliefs to encourage landlords

[Bronte]

http://www.independent.ie/business/...dlords-in-rental-market-shakeup-31218010.html

Proposals seem to be

1. Long continental style leases for tenants
2. Increase mortgage interest relief back to 100% from 75% currently
3. On selling property, sitting tenant has right to stay
4. Make the secotor more like the commercial sector to encourage landlords
5. Speed up the PRTB from 1 year - laughing at that one

What planet are they on, it's nearly two years for non paying tenants currently and then the PRTB tells you it's 'determination order' isn't worth the paper it is written on and you have to go to court yourself, even though you the landlord are the only one paying for the PRTB. And court takes forever as well. So financially you'd be better off physically evicting your tenant from day one !

6. Rents fixed for four year periods. Increases based on cost of living index.

Nothing about

1) Deposits - which is where landlords often leave down the sector, though having the incompetent PRTB handle that seems like lunacy.
2) Encouraging landlords to buy - all the landlords I hear about can hardly wait to get out of the business
3) Taxes - total discouragment to investors. CGT too high. USC and PRSI with no benefits.
4) Point 3 is causing it to be uneconomical to rent, returns are abysmal.
5) speeding up the PRTB for non paying tenants
6) the fact that even if you go to the PRTB to evict a tenant, that process us pointless and the PRTB tells you at the end of the Process you have to now begin the procedure in court

 

[facetious]

A quote from Bronte's link to the Indo:
"The PRTB currently has an index which could help to provide the necessary figures."

If the PRTB would get on with the job of adjudications and determinations instead of compiling various indexes they would do justice to a lot of people.

Longer leases? Irish renters seem to change property every other year at least. In any event, a tenant can exit a lease by an assignment whereas a landlord is stuck in a lease until its expiry so no benefit to anyone.

 

[amethyst]

The consequence of making landlording a bad business to be in can be summed up in one word: slums.

A bias against landlording is in the Irish DNA and was literally taught in school when I was a kid.

>> 6. Rents fixed for four year periods. Increases based on cost of living index.

Why is it OK to impose a fixed price on a landlord for four years, and not on a masseuse, lawyer, optician, electrician, doctor, plumber, grocer, hairdresser, restaurateur etc.?

Why is open competition considered the source of fair prices in all other sectors, but 'cost of living index' the fair source of prices for landlords?

The answer is simple really: ignorance and biases.

Do residential Irish landlords have a lobby in Ireland? There is an obvious need for one....

 

[Bronte]

If the PRTB would get on with the job of adjudications and determinations instead of compiling various indexes they would do justice to a lot of people.
.

I agree, another useless quango. The stories on Joe Duffy means landlords have absolutely no faith in the system, but you did make me laugh.

As for tenants being allowed leave a lease by assignment, most actually leave whenever they want.

For myself, as you know, never had a lease for a tenant, total waste of time.

 

[Bronte]

Amythest why do you think so many landlords want to leave the business. Then there are others who won't buy because the figure don't add up. Plus being a landlord in Ireland is being considered the worst kind of person. Basically we are considered scum. And if all that wasn't bad enough, you are expected to house non paying tenants for two to four years. Crazy stuff.

 

[Frank]

A lot of landlord by default out there

I know I have had a tenant in for a long time went on to rent allowance no problem
over the years WW CoCo dropped the rent several times no problem

Landlords are the problem making people homeless (scapegoat)

I would sell tomorrow if the house would cover the mortgage

 

[facetious]

A lot of landlord by default out there

I know I have had a tenant in for a long time went on to rent allowance no problem
over the years WW CoCo dropped the rent several times no problem

Landlords are the problem making people homeless (scapegoat)

I would sell tomorrow if the house would cover the mortgage

As a landlord, you are running a business not a charity. As a business person you pay all your taxes, registrations etc., I presume (no disrespect intended). There is no reason that a landlord should accept a reduction in rent because SW decide to reduce the rent allowance. If they want to supply tenants with cheap rent, let them build their own properties and let the private sector supply the private rentals.

 

[Frank]

All taxes up to date
Any problems sorted straight away
No offence taken

They are good tenants hence the "charity"