23rd March 2020
As landlords are aware Covid 19 has placed us in a crisis situation. IPOA are aware that our members and their tenants are anxious and the situation lacks clarity. The Association has been liaising with Minister Murphy to ensure your issues are understood and the measures put in place are workable for our members. IPOA made it clear that a rental payment holiday is not workable and that it is the obligation of the State to assist tenants when their income has been reduced or withdrawn.
Outlined below are a number of clarifications you may find useful:-
- Rent is a contractual obligation, it must be paid. If your tenant has lost their job direct them to the Department of Social Protection website to apply for rent supplement. Complete any forms for them as quickly as possible.
- 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.
- A deferment of rent still means that rent must be paid and tenants will be in debt. This debt may have to addressed alongside the payment of rent when the crisis is over.
- A “Mortgage Holiday” may be useful for some members but be aware that interest will still be charged during the “Mortgage Holiday” which will be added to the balance outstanding.
- Legislation will be brought in to prevent evictions and rent increases. Notice of terminations served in the first six months of a tenancy will be for 90 days instead of 28 days. (These are applicable for the duration of the emergency).
IPOA ARE HERE TO SUPPORT LANDLORDS
CONTACT US ON 01-8276000 OR email@example.com