IPOA has compared the tax regime enjoyed by REITs to the former Section 23 Tax Relief schemes. Investment funds or Real Estate Investment Trusts (‘REITs’) benefit from tax treatment that allows rental income to be earned free of income tax and capital gains to be tax free. Private landlords currently pay income tax up to 51% on rental profits and 33% on capital gains. Tom O’Brien, Chairman of the Finance Committee of the Irish Property Owners’ Association said the tax breaks that REITs benefit from goes far beyond Section 23. “The tax regime for investment funds is ironic given that
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The Emergency Period under the Residential Tenancies Act 2020 (RTA 2020) which has been in place since 31st December 2020, expired on the 12th April 2021.  This allows the market to function relatively normally.   Notices of termination may be served and will immediately begin to count down. The paused period from 31st December 2020 to 12th April 2021 will need to be added, along with an additional 10 days to notices of terminations previously served to give a revised termination date. There is an additional 10 day protection period for tenants where notice of termination ended before the Level
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29th March, 2021 The Cabinet agreed some time ago to extend the protections set out in the Residential Tenancies and Valuation Act 2020 for tenants who have fallen into rent arrears as a result of Covid-19, and are at risk of losing their tenancy. This was done through the Residential Tenancies Bill 2021 which went through the Dáil last week.   The Bill will shortly be signed into law by the President. The Minister for Housing stated in the Dáil that 407 tenancies have sought protection under this measure. The protections are for Tenants who are or were, from the period from
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The Residential Tenancies Board (RTB) has published the quarterly Rent Index for the October to December period (Q4) of 2020.   Rents grew nationally by 2.7% in Q4 2020 Standardised Average monthly rent – New Tenancies €1,304 vs Existing Tenancies €1,069 Rents grew nationally by 2.7% in Q4 2020 in comparison to 6.4% in Q4 2019. The national standardised average rent stood at €1,256 in Q4 2020, equal to its level in Q3 2020. In Dublin, in Q4 2020, the standardised average rent stood at €1,745 per month, a 2.1% increase year-on-year. This is down 0.8% quarter on quarter when
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ICS are hosting a Buy-to-Let Virtual Seminar on the 23rd March. The Guest Speaker is Ronan Lyons Economist and IPOA are on the Panel.  A good opportunity to gain valuable insights into the sector, essential for investors to continually educate themselves on developments in the private rental market.
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The Irish Property Owners’ Association, the national landlords association, accepts and understands the need to protect vulnerable tenants who meet the self-declaration criteria.  However, there is also a need to protect the providers of accommodation. The IPOA are calling for fair play for landlords in cases where rent arrears are not discharged. Stephen Faughnan Chairman outlines, “In cases where tenants have been protected at the expense of their landlord and the rent arrears are not repaid, IPOA are calling for the landlord to be allowed to offset the arrears as an expense in their tax return reducing the financial cost
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