Tax Treatment of Landlords has to be Revisited

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A tax scheme from 1988 with cheap property and at the time a booming economy, with almost none of the restrictive rental legislation of today is not an example of what will work today.

You'll never balance the risk of non paying overholding tenant plus property damage with small tax incentives. At a time when capital appreciation isn't going to offset any of these costs and losses.

If the argument is that problems aren't very common, you'll have to provide more robust stats than the comedy of the RTB. Not to mention counter vilification of the sector by media, etc.
 
The majority of landlords have one property. Only a small % more than 2. The incomes of these landlords seems fairly modest in any study I've seen. I dunno how they do that and fund all small town development nationally.

Are they all investing in some big development companies? If so who?
 
Leo said:
If it was such common practice they'd have nothing to hide.
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Come on, do butchers and bakers explain the tricks of their own trades in the media? Like hell they don't.
Leo said:
Perhaps I should rephrase to the town where your office is located.
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No, leave my office out of it, unless you wish to disclose to us all who you are and where you come from. You've already gotten one fact wrong about me this morning.
 
No, you've totally misunderstood what I wrote earlier. Of course they don't invest in development companies. But back in the days when they used to buy properties, they used put down substantial deposits at the outset. The builder planning to build say a dozen houses or apartments in an estate or block would sell a number of them to prospective investors, and use their deposits and the promise of further funds on completion as collateral against bridging funds to finance the construction of the development, thus allowing the builder in the meantime and sometimes post-completion to sell the remaining properties, usually at a slight premium, to prospective owner-occupiers and/or other investors.
 
Well said - a perfect explanation. It speaks volumes about your fellow posters that it should be necessary!
 
T McGibney said:
Come on, do butchers and bakers explain the tricks of their own trades in the media? Like hell they don't.
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If they are all doing it it's hardly a trick, is it?

T McGibney said:
No, leave my office out of it, unless you wish to disclose to us all who you are and where you come from. You've already gotten one fact wrong about me this morning.
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You choose to post here under your own name and regularly state your profession. That ship has sailed.

If small time landlords are involved in funding all these developments, why do most of them state they acquired their properties as a PPR or through inheritance?

If small landlords did indeed finance 'every small town development in the country built within the past 25 years', where are they all now? The numbers just don't stack up.
 
AlbacoreA said:
The incomes of these landlords seems fairly modest in any study I've seen.
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Yeah, even after a 16% increase from 2017, the 2019 reports showed a median gross rental income of just over €15k, with 60% of landlords reporting a total gross income from all income sources of less than €60k.
 
Leo said:
If they are all doing it it's hardly a trick, is it?
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I didn't say that.
Leo said:
You choose to post here under your own name and regularly state your profession. That ship has sailed.
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Wow, that's hostile.

I suspect we've met previously. Yes or No?

You've utterly misread my comment.

See my clarification to @AlbacoreA quoted by @Right Winger
 
AlbacoreA said:
What exactly does it explain about 2023?
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It explains precisely how a more lenient tax regime back in the day led to the construction of much residential property for the rental market.

Now let's engage the grey cells. In 2023, we don't have a lenient tax regime, we have a harshly punitive one. To make matters worse, landlords are grossly vilified in public discourse and this is reflected in governmental policy. And guess what? Landlords have stopped investing and are exiting in droves. Them's the dots. Join them.
 
And, as if by coincidence, new builds for owner-occupation have simultaneously ground to a halt too.

Who wudda thunk it?
 
T McGibney said:
And, as if by coincidence, new builds for owner-occupation have simultaneously ground to a halt too.

Who wudda thunk it?
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Not to worry. Let's elect the perpetually outraged Shinners and whatever the PBP lot are calling themselves today. Then we'll all live in lovely public housing projects and we WILL be happy. Or else.

I mean it worked perfectly in the old Soviet bloc, didn't it? What could possibly go wrong?
 

You've ignored all the other things going on at the time. Just laid it solely at the tax incentive.

House prices rose 22.7% in 1998, figures show

The price of houses rose by 22.7 per cent last year and there was a 10
www.irishtimes.com
 
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