"Rents are at a record high – so why are private landlords selling up?"

To be fair Tom Barry TD from FG did state the above,
 
All the kite flying seems to be about some package (taxation being just one element) being included in the Budget in October. With that in mind, what are the likely actions by the government do people think to retain, attract or entice "mom and pop" landlords to remain or invest in the sector?

Are we saying property tax will be tax deductible? Capital repayments off mortgages being tax deductible? Tax at the 20% or 40% rate only, that is, not liable for PRSI or USC? Ending of the RPZ system?
 
I don't know where people are seeing this speculation, any links ?

Property tax deductable. Logically reasonable or simply just. Financially irrelevant its only a few hundred in the year.

Capital repayments. Logically unsupportable. Financially huge for some, irrelevant for others. It would favour those with large borrowings while giving nothing to those who bought with cash. It would probably attract many new landlords, who could borrow large amounts.

Ending PRSI. In the past rental income was seen as unearned income, i.e. not subject to PRSI (good) and not qualifying for pension relief (bad). In recent years this has been reversed, so removing PRSI would be a change of direction. Though probably a good thing.

Ending RPZ system. Well it could certainly be modified. No restrictions when a tenancy comes to an end seems the obvious one.
 
You want links??? Have you seen any news stations or read a paper the last month or so no?

Here you go:

Tax measures may need review to keep landlords from exiting the rental market, says minister

Housing Minister Darragh O’Brien indicated that tax breaks may be needed to keep ‘mom-and-pop landlords’ from selling up.
jrnl.ie

Report claims rent controls have backfired and worsened crisis

Study claims rent pressure zones have added to rent pressures
www.irishtimes.com
 
Too little too too late as anything they do now will be from next year. Also will it mean those landlords that have the rents already low below market rent be asked to drop even further? This is for long term indefinite tenancies.
 
What defines "cheaper rent " our properties are between 30 and 50% of market value.

This will be another window dressing exercise, HAP is going up and they want rents to go down..........

I'm serving quit notices on July 1st , no matter what they propose.
 
If you have a property rented at say €1400 and market rent is €2000, you have it at 30% discounted already. If that's the threshold you won't have to do anything. I would imagine if cost rental is upto 50% market rent then I'd say around 25-33% is the discount they would seek to maybe get taxed at 20% plus prsi and USC instead. This would help landlords who never raised rents previously due to good long term tenants and are now stuck in a RPZ area.
 
It might persuade some, but they issues aren't taxation alone, its tenancies and the rights that the state have given the tenants and enshrined it in law. I have good tenants but we want to sell one property and we must give them essentially 9 months notice to quit.

We are the lucky one, there are thousands of horror stories about tenants not leaving, wrecking rental and essentially not caring about the owner or his/her rights.

When my high income disappeared due to cancer in 2008 and the world fell into a financial crisis our tenants asked for and got reductions when our family really needed to money. Interest was double the combined rent.

The word " Landlord", you'd swear the 1/2 property landlord is depicted as the old Earl's and Dukes owing huge swathes of land and property and we are tossing families out on the street as during the famine, we are probably more hated than the black and trans, and this narrative is getting worse year in year out.

We are Christian people who have and particularly in my case give time,money and anything else we can to those who need it, yet we are the evil ones.

Posts on AAM has seen people explaining allowing low rent was a defacto reduction for long term tenants, and you couldn't put the rent up or sell unless you give extended notices, the banks won't help, few auctioneers won't sell with sitting tenants, Insurance companies wriggle out of claims due to clauses lawyers have hard times understanding ....the list is endless and frankly not worth it.

If they want more properties available for renting treat the owners with respect.
Respect our rights and our assets.
Respect us for helping with the mess that was created by Governments.

And call us something else.
 
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I am slightly confused as what bearing private landlords selling up has on the housing market.
As it is the house is rented if the landlord sells the house will be still lived in.
Therefore whether he sells or stays a landlord it wont have a difference on people looking for a home.
The only solution is new builds.
Or am I missing something
 
Let's say every landlord sells every rented property to an owner occupier. Where do all the renter's go then?

On a smaller scale, say there's 600,000 renters across 200,000 properties. Say 50,000 properties are sold. Now there's 600,000 renters but only 150,000 properties. Do you see the problem now?
 
Another point would be that some people are renting due to financial constraints and would find it difficult to raise funds to buy a property and where would they find suitable housing if the rental sector shrank to a low level.

While building our way out of this is part of the solution the lead time is very long. and becoming increasingly expensive
 
Just a word on the supposedly new laws/rules, etc coming to the rental market. The Goverment can do all that they want to make it easier for people to rent out their houses, apartments and everything else. They can't (it seems) legislate for non payment of rent and there's a hell of a lot of that out there. Be very, very, aware of this if you're thinking of buying to rent. Oh, there's not a lot you can do about it either and it's one of many reasons the small property owner is leaving the market, but doesn't get mentioned a lot anywhere. Writing this on a bright, very warm sunny morning in Cyprus 23 deg. Just in case someone thinks I'm crazy to be up at an unhealthy time of day, it's just gone 8.15 am here, we're 2 hours ahead.
 
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This needs tougher legislation or some kind of meaningful arbitration not the years it takes to solve this as it does now.

Enjoy that sunshine we visited Cork over the weekend rain was ferocious and the journey home to Kildare yesterday was painful.
 
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