Minutes of the Property Owners’ Association of Ireland
T/A Irish Property Owners Association (IPOA)
AGM 3rd November 2021 at 7pm
28th Annual General Meeting
Zoom Virtual Meeting
Panel
- Stephen Faughnan Chairman
- Bernard Shanley Secretary
- Cathal Lawlor IPOA Committee Member & Guest Speaker
- Dylan Fitzgerald Accountant P. Fitzgerald & Company
- Susan Clancy IPOA Development Officer
- Margaret McCormick IPOA Information Officer
Introduction
The meeting was opened by the Chairman who welcomed the attendees. He expressed sympathies to all the members who lost relatives and friends during the year.
Stephen introduced the panel and outlined the communication methods available to members to ensure that their questions could be addressed, and their voice heard. He detailed the agenda for the evening and introduced the Secretary.
Minutes of Meeting
Bernard Shanley, Secretary dealt with minutes of the meeting. The minutes were circulated together with the notice of meeting and were taken as read. He asked if there were any queries on the minutes or changes required. There were none. Bernard asked for a proposer and seconder.
Josephine Butler proposed that the minutes be accepted. Cathal Lawlor seconded, and the minutes were adopted.
Financial Accounts
The financial accounts for the year ending 31st December 2020 were circulated prior to the meeting and available on the IPOA website. There was a comparison between the accounts from 2019 and 2020. The Chairman discussed the accounts and explained the differences. There were two queries raised and the Chairman responded to the first one and Dylan Fitzgerald Accountant, responded to the second one. It was noted that the Association was in a better financial position after some challenging years.
Des Daly proposed that the accounts be accepted, and Maurice Deverell seconded. The accounts were accepted.
Proposal of Accountant
The Association has a long-standing relationship with P Fitzgerald and Company. They completed the accounts since the beginning of the Association and have a clear understanding of the workings of the Association.
Peter O’Donnell proposed that they compile the accounts for the coming year and Jasmine Marshall seconded. It was agreed that P Fitzgerald and Company prepare the 2021 accounts.
Election of Management Committee
The Chairman outlined the members of the Committee and detailed some of the work carried out. He thanked them for their commitment to the Association. Two members of the Committee resigned Tom O’Brien and the Chairman himself, Stephen Faughnan. They were both available for re-election.
Tom Reilly proposed Stephen Faughnan for re-election and Brendan Allen seconded. Stephen was re-elected to the Committee.
Tom Reilly proposed Tom O’Brien for re-election and Cathal Lawlor seconded. Tom O’Brien was re-elected to Committee.
Chairman’s Report
2020 was an extraordinary year for the Association. Prior to the Covid lockdown restrictions the IPOA ran information events both in Dublin and Cork. One training course was run January to March 2020.
IPOA Staff worked remotely and were in a unique situation to be able to continue to fully support members by telephone, email and through our continually updated website. Newsletters were produced and the normal functions of the office continued. Rent books and leases were posted to members as required, queries answered, and information emails issued.
The numerous meetings held, and submissions made were detailed, including political, legal, accountancy and other professional bodies.
Various submissions were issued including to the Department of Housing, Department of Finance and UIPI. Our Pre-budget submission was also published.
The Association released press releases and were featured in numerous papers including, Irish Times, Independent, Examiner, Sunday Business Post and Sunday Independent. IPOA took part in various radio shows including Drivetime, Pat Kenny Show, Niall Boylan Show, Matt Cooper Show, and radio stations around Ireland including in Cork, Kerry, Kildare, Tipperary, and Midwest. The Association was also featured on TV news.
The Chairman outlined that consideration was been given to engaging a public relations team to help get our message across to politicians, media, and people in general. It would be an expensive venture for the Association.
The Chairman announced that he is standing down as Chairman after numerous years running and steering the Association. From establishment and under his direction, the IPOA exists today as the oldest and largest body representing and supporting Landlords in the Irish Private Rented Sector. Our membership has developed and encompasses full-time landlords running property portfolios, those letting single units, agents, property managers and investment funds. IPOA has become an active industry stakeholder, working with the sectors regulators, and influencing the Government. IPOA is now accepted as a leading and crucial resource for the sector.
Susan Clancy detailed the development of the Association, discussed the membership and growth of IPOA. She detailed the articles and news pieces issued by the Association and the growing role of the website and social media.
Margaret McCormick gave a brief outline on the changes in legislation in recent time and detailed the steps required in reviewing rents. She explained the draft legislation expected to be signed into law and how it will affect members. The changes to the treatment of the NPPR was clarified.
Guest Speaker
Cathal Lawlor Tax Advisor from Lawlor Kieran gave a comprehensive update on succession planning from a tax perspective. He discussed transferring assets to family, same event relief, loan arrangements, agriculture relief, dwelling house exemption and family partnerships. He also detailed small gift exemptions, and capital losses. There were plenty of questions from members and many were answered at the meeting.
Questions and Answers
Members sent in questions through the question and answers function on Zoom. The questions were varied and were answered by the panel.