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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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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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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