It is not just the Irish Rental market that has changed in recent times, rental markets around the world are suffering as a result of Covid-19. Student markets have been devastated with many students attending colleges on-line.  Student accommodation near colleges have empty units. Many employees are also working remotely and have left their rental accommodation in major cities.   NEW YORK – Purchase prices for accommodation in Manhattan have reduced to 2013 prices with prices for properties in Weschester County a region North of New York increasing by 16%.   SAN FRANCISCO – Rents are falling as a result of
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By way of update, the Government has agreed to place a ban on terminations. A Bill is currently being drafted to modify the Residential Tenancies Act 2004 to prevent any notices of termination served by landlords from taking effect during the period of level five restrictions. Our understanding is, this Bill, will not permit any terminations, except in exceptional circumstances such as anti-social behaviour and if a dwelling or home was being used for other reasons without the consent of the landlord. It is anticipated that anytime the Government decides to implement 5km travel restrictions in the future the freeze
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The Irish Property Owners’ Association is disappointed to note the lack of understanding of rental law in Ireland.  There are protections for tenants affected by Covid-19 in place until the 11th January 2021 and Rent Supplement is available for tenants who are dealing with reduced income and are not able to meet the cost of their accommodation. Problems arose previously during lockdown, with anti-social behaviour disturbing other tenants and neighbours; however, anti-social tenants were protected to the detriment of other tenants and law-abiding citizens, this must not happen again. Stephen Faughnan outlined “IPOA would like to see measures for landlords
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Budget 2021 had some details around Housing in general but disappointingly nothing specific to the private rental sector other than additional funding for the RTB and for Local Authority inspections. Announced were:- €3.3 billion spend in housing – 24% increase on 2020 Increase funding to €21 million for the Residential Tenancies Board and Local Authority rental inspections and to implement reforms for the short-term letting sector 12,750 new homes will be added to the available supply of social housing through build, acquisition and long-term leasing Support for local authorities and Approved Housing Bodies to deliver 9,500 new build homes in
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