Brendan Burgess
Founder
- Messages
- 54,682
In the same breath as they boasted about helping 2,000 challenge eviction notices in the last three months.
Brendan
Brendan
Threshold calls for tax incentives to keep small landlords in the market...
- Thread starter Brendan Burgess
- Start date
Brendan Burgess
Founder
- Messages
- 54,682
Over half of rent reviews found to be invalid, Threshold reports
The charity also says it intervened to save 2,000 adults and children from being made homeless in the last quarter of 2021
www.irishexaminer.com
Threshold intervened to save almost 2,000 adults and children from being made homeless by invalid notices of termination, invalid rent increases and rent arrears in the last quarter of 2021, a 16% increase on the previous year.
...
Mr McCafferty said that a high number of landlords are issuing notices of termination for the purpose of sale, and this looks likely to continue in 2022 unless action is taken. He said the taxation system has a role to play in retaining small-scale landlords in the private rental sector, to protect the current private rental stock.
Think the penny is finally beginning to drop that large institutional landlords with their high end market / high rental level and advantageous tax structure, is actually not that suitable to the lower end of the market where a lot of the long term small operated / next generation just not bothered to get involved for all the hassle that segment of the market involves
The Horseman
Registered User
- Messages
- 748
This is news to them. The tax system has been highlighted as an issue for years.Over half of rent reviews found to be invalid, Threshold reports
The charity also says it intervened to save 2,000 adults and children from being made homeless in the last quarter of 2021
Threshold intervened to save almost 2,000 adults and children from being made homeless by invalid notices of termination, invalid rent increases and rent arrears in the last quarter of 2021, a 16% increase on the previous year.
...
Mr McCafferty said that a high number of landlords are issuing notices of termination for the purpose of sale, and this looks likely to continue in 2022 unless action is taken. He said the taxation system has a role to play in retaining small-scale landlords in the private rental sector, to protect the current private rental stock.
Other than the fact that they are entering the market by providing new stock what is it about them that makes them unsuitable?
The Horseman
Registered User
- Messages
- 748
Seriously is this the 1st of April? This very reason has been highlighted on multiple occasions as one of the reasons landlord's were leaving the market but the picture was portrayed of the greedy landlords.
I suspect the damage has already been done.
I suspect the damage has already been done.
PebbleBeach2020
Registered User
- Messages
- 635
Absolutely. And government interference on an annual basis has been identified many times as a deterrent for investment. I think it's too late.
Would they make rental income not liable for USC and PRSI? Or would it be like medical relief and taxed at 20% only?
Would they make rental income not liable for USC and PRSI? Or would it be like medical relief and taxed at 20% only?
They are unsuitable to the lower income end of the rental spectrum was my point. To the extent that this expands the rental market and increases overall supply that’s wonderful , rents at the lower segment should in theory drop. However my feeling is that demand is so great and being drip fed on to the market , that the marginal net change to supply is minimal at best given the small investor withdrawal and overall net price level is being dragged upwards as these funds control the supply to huge extent these days. For small time landlords that want to piggy back on the strategy of the big funds, it’s a winner , but you have to upgrade your offering to compete at this new higher level
When the yield on bonds is well less than 0.5% a net return of 2% on property is excellent for big investors. Low Bond yields drove money into property. Higher Bond yields will suck it back out.
Yes indeed, interesting to see where interest rates will peak in this new inflationary cycle we are having, need some big moves by central banks to put the inflation genie back in the box , if second round inflationary effects kick in and at this stage the probability is that they will given tight labour markets globally & huge liquidity sloshing around
There are strong geographical arguments for supporting small landlords. They provide the only source of private rented housing supply in most towns and smaller cities. The funds are really only interested in building in Dublin and to a lesser extent Cork. Once a small landlord sells up in say Clonmel, no fund will come in to supply new rented housing instead.
Obviously the small landlord's dwelling won't disappear once sold. It will probably be bought and lived in by a home owner. But lower income people who can't afford to buy and need to rent will have no where to live.
Obviously the small landlord's dwelling won't disappear once sold. It will probably be bought and lived in by a home owner. But lower income people who can't afford to buy and need to rent will have no where to live.