Monthly Archives December 2018

As IPOA Predicted – Landlords Exiting the Sector!

1778 landlords gone from sector 8829  homes no longer available to tenants Existing tenancies pay 21% less than new tenancies  Continual interference in the private rental sector has resulted in less accommodation for rent, contributing to homelessness.  Rent Pressure Zones limited the income of investors without limiting the cost of the provision of the accommodation.  Property owners who rewarded  good tenants by keeping the rent low, have been unfairly and substantially disadvantaged.  The Residential Tenancies (Amendment) Bill intents to bring in penalties and possible criminal convictions for landlords who breach legislation but does not address the substantially low rent situation. 
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Residential Tenancies Bill (Amended)

The Government gave its approval to publish the Residential Tenancies (Amendment) Bill, which includes: Providing powers to the RTB to investigate and sanction landlords who engage in improper conduct including non-compliance with the rent increase restriction in RPZs; A sanction could cost a landlord in breach up to €30,000 and a written caution (a financial penalty of up to €15,000; payment of RTB investigation costs of up to €15,000). Making it a criminal offence for landlords to implement rent increases that contravene the law, that do not adhere to new definitions of a substantial change, failure to cooperate with an investigation, failure to register
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