According to figures released by the Residential Tenancies Board (RTB) in their 2018 Annual Report, the number of private rental tenancies from 2017 to 2018 has reduced by 5,654, it further reports that there are 19,222 less occupants from 2017 to 2018 and 804 less private landlords.
This is a continuation of the trend since 2012 when the RTB reported that there were 212,306 landlords, a staggering 39,109 landlords have left the sector.
We are seeing the unintended consequences of complex legislation, over-regulation and punitive taxation. The data presented in the report reflects fewer rental properties coming on the market at a time of desperate demand.
The RTB report indicates that they received 6,398 applications for dispute resolution in 2018, 26% of which were for rent arrears and over-holding, the report also indicates that 2.2m was awarded in rent arrears. While landlords may be awarded rent arrears, the reality of most ever receiving a cent is slim, with landlords being out of pocket to the tune of tens of thousands of euro.
The IPOA fear that this downward trend will continue. With all of the compliance, higher costs and restrictive rules around tenancies and rent, the private residential landlord may decide it is time to get out!
Click HERE for RTB full report.
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