The Daft report released today outlined information on the rental market for the first quarter of 2020, it also included some information on the situation that has developed since the Covid-19 Emergency. IPOA’s view is that the effects of the current Covid-19 situation is unlikely to change any of the long-term housing needs. While the immediate indication might be a lowering of rents, there is a continued danger of private landlords leaving the sector and in the long term we will continue to see a shortage of rental properties. Landlords and tenants are now facing challenging and problematic situations. Foreign
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Archives for News
Be Alert and Aware of Scams
Please be aware of potential scams. IPOA have been notified by landlords of the following situation. A response is received to an advertisement placed by a landlord. The potential tenant will state that he/she is a foreign national working abroad being transferred to Ireland, and needs to organise the accommodation in advance. A copy of passport, work and previous landlord references may be sent. (It is unlikely that the references can be checked). A copy of the lease will be requested for the company who will allegedly be paying the rent. It will be acknowledged and a claim made that
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RTB Rent Index Issued – 5 New Areas Designated Rent Pressure Zones
The RTB Rent Index for quarter four 2019 issued today, shows a 6.4% annual increase in national standardised average rents, the lowest recorded annual increase since Q1 2014. In Dublin, the standardised average rent is now €1,716 per month, up 5% (€82) year-on-year. On a quarterly basis, the Dublin standardised average rent decreased by €33 (-1.9%) in comparison to Q3 2019. The Q4 2019 RTB Rent Index shows the national standardised average rent was €1,226 per month. Outside of Dublin, the standardised average rent is considerably less, standing at €922 in Q4 2019. National Standardised monthly rent – New Tenancies
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Changes to the Residential Tenancies Act For The Duration Of The Covid-19 Crisis
Emergency Measures in the Public Interest (Covid-19) Act 2020 was signed into law on the 27th March. It includes changes to the Residential Tenancies Act, for the duration of the Covid-19 emergency. A copy of the Act is available for review HERE Emergency Period The emergency is defined as the period of three months commencing on the 27th March 2020, and that period can be increased if necessary, to extend the emergency period for such period as they consider appropriate, having regard to— (i) the threat to public health presented by Covid-19, (ii) the highly contagious nature of that
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Emergency Legislation Introduced
New Emergency Legislation, Who Does This New Legislation Apply To? The emergency legislation applies to all tenancies governed by the Residential Tenancies Acts, including licences granted to students. Main features for Landlords are: A ban on residential rent increases during the COVID-19 crisis. No rent increase of any nature will take effect during the emergency period. This includes increases already notified and due to take effect during the emergency period. Rent increases may also not be applied retrospectively to the emergency period. A ban on terminating residential tenancies during the COVID-19 crisis. Landlords cannot terminate tenancies for any reason during
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Covid-19 & Property Owners – What Is Happening Across the Waters?
Ireland The Irish Government has introduced new Emergency Legislation (Covid-19) which bans residential rent increases and prevents landlords from terminating residential tenancies during the COVID-19 crisis. The 5 main retail banks in Ireland have adopted flexibilty – such as 3 month mortgage breaks – which will be offered to those with buy-to-let mortgages whose tenants have been impacted by the virus. UK The Uk Government has put in place measures to assist property owners who have been affected by the coronavirus outbreak. The necessary legislation for England, Wales and Northern Ireland is included in the Coronavirus Act. These measures do
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What Can Landlords Do During Coronavirus?
Keep informed and ensure communication with your tenants, direct your tenants to the HSE website for live updates on the coronavirus. https://www2.hse.ie/conditions/coronavirus/coronavirus.html If your tenant has lost their job direct them immediately to the Department of Social Protection website to apply for rent supplement. Complete any forms for them as quickly as possible. https://www.gov.ie/en/organisation/department-of-employment-affairs-and-social-protection/ . Rent is a contractual obligation; it must be paid. It will take time for applications to be processed by the Department of Social Protection and forbearance will be required during this time. Landlords and tenants are free to decide on arrangements that suit them.
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