Archives for Uncategorized

Landlord Query: Deposit Retention – Damage to property

March 2023 Question: I have just conducted a final inspection on my rental property. The tenants have been in situ for three years. My lease agreement specifically states no smoking is permitted in the property. There is significant nicotine damage – burn marks in the sofa and carpet as well as nicotine stains on the wall. Am I within my rights to retain part of the deposit to repair these damages? Response: A property should be left clean and tidy when the tenant leaves, you cannot expect the property to be returned in the exact same condition it was presented
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Categories: Landlord Query of the Week and Uncategorized.

Do I need to give my tenant a rent book?

February 2023 Question? My tenants pay rent directly to my bank account – do I still need to provide them with a Rent Book and/or a receipt for payments? Response: As a Landlord, you are obliged to provide your tenant(s) with a ‘rent book’ at the commencement of a tenancy or another equivalent document providing the same information. A rent book is a document that records details about a tenancy and notes all rent payments that are made. The requirement to provide a rent book is set down in legislation since 1993. The rent book must contain specific particulars relating
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Categories: Landlord Query of the Week and Uncategorized.

Why are PPS Numbers and Date of Birth Required for RTB Registration

February 2023 A number of members have recently asked why PPS Numbers and Date of Birth Required for RTB Registration? IPOA previously asked the RTB for clarification as to why PPS Number and Date of Birth is required to register a tenancy. Their response is detailed below. The RTB is a statutory body responsible for (but not limited to) the operation of a national registration system for all residential tenancies, the operation of a dispute resolution service, the provision of both information and policy advice, and completion of research regarding the rental sector. PPS Numbers are used as reliable identifiers
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Categories: Uncategorized.

Winter Eviction Ban – Know The Deferred Termination Dates

1st February 2023 The Ban commenced 30th October 2022. A landlord can still serve a Notice of Termination during the winter emergency period. It applies to notices with no fault on the tenants’ part e.g. selling, own use or family member use. It does not apply for notices served for breach e.g. Rent Arrears, anti-social behavior – with the exception of overcrowding. It applies to tenancies and licensed Student Specific accommodation. Notices served in six month probationary period need a termination date of 18th June 2023. (tenant must not receiveless than 90 days). Deferred Termination DatesDeferred termination dates below now
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Categories: News and Uncategorized.

Capital Gains and Losses

January 2023 The market value of property has largely recovered from the crash that hit the sector in 2008. Hopefully, members that found themselves in negative equity around that time, are facing into a better position at the turn of the year. Notwithstanding, many members were forced to sell property over the course of the last decade in order to pay down debt and hopefully survive. In those circumstances it is possible that losses arose on the disposals. We would recommend that members keep a close eye on the losses arising as they are available for offset against gains in
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Categories: Property Management, Taxation, and Uncategorized.

Tax Credit For Renters – What We Know

January 2022 A Rent Tax Credit was introduced on 15th December 2022. The Rent Tax Credit will be available for the years 2022 to 2025. Renters can claim the income tax credit for rent payments made in 2022 by making a tax return for 2022. The amount of the credit is 20% of your rent payments in the year, up to a maximum of: €500 for an individual €1,000 for a couple who are jointly assessed for tax The tax credit can be claimed for rent payments made for: Your home A second home you use to take part in
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Categories: News and Uncategorized.

Weatherproofing Your Property

January 2024 Extreme weather can sometimes mean bad news for landlords – thankfully there are steps you can take to protect your property. Remember – regular inspections can be a good way of ensuring the property is in good working order throughout the year, also ask your tenant to inform you if they are going to be away from the property during a period of bad weather. Take a look at the below things to look out for when you’re weather-proofing your property. External walls Seal any gaps in external walls to prevent cold air and water entering the property. Garden
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Categories: News, Property Management, and Uncategorized.