Expenses Landlords Can Claim

Expenses Landlords Can Claim

There are a lot of expenses that you can claim in order to reduce your tax liability. Tax can be confusing, and many Landlords are unsure of their obligations and entitlements, meaning you often don’t claim back what you are entitled to and miss out on potential savings. Allowable expenses include: Residential Tenancies Board (RTB) registration. Insurance premiums against fire and public liability. Maintenance of your property such as cleaning, painting and decorating. You can deduct these costs as well as wear and tear expenses such as the price of furnishings and fittings. Repairs, such as rot treatment, mending windows,
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Categories: Taxation and Uncategorized.
Helpful Tips For New Landlords

Helpful Tips For New Landlords

1. Know Your Rights & Responsibilities. If you are new to the rental game or thinking of investing, it is important that you are aware of your rights and obligations as a landlord.  Many people are unaware that the sector is governed by the Residential Tenancies Act enforced by the Residential Tenancies Board (RTB).  There are strict regulatHions in place and it is not possible to contract out of these obligations (i.e. the legislation overrides the terms of any tenancy agreement that you have with a tenant). There can be fines, sanctions and even criminal convictions for landlords that do
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Categories: First Time Landlord.
Landlord Query of The Week: Daughter Shares Rental – Does This Have To Be Registered With The RTB?

Landlord Query of The Week: Daughter Shares Rental – Does This Have To Be Registered With The RTB?

Question: My Daughter is a student and is staying in a property I own in Dublin, there are no other occupants at present in this property. If she takes fellow students into the property will they have to be registered with the Residential Tenancies Board?   Response: If you or your daughter have a written agreement in place with the students intended to occupy the premises then yes, this must be registered with the RTB and subject to the Residential Tenancies Act. However, if you do not have a written agreement in place, it is our understanding that you do
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Categories: Landlord Query of the Week and Uncategorized.
I’m In A Rent Pressure Zone And Way Below Market Rent ?

I’m In A Rent Pressure Zone And Way Below Market Rent ?

New rules are in place since this post was published in September 2019 – Please contact IPOA directly for information on the current RPZ rules. Question: I have been renting a 2-bed apartment in Cork City Centre for the past 10 years, I have had the same good tenants for the duration of the letting and never varied their rent. My tenants have recently bought their own property and will be vacating the apartment at the end of the month. I am 50% below market rent for the area, I have two prospective new tenants willing to pay market rent
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Categories: Landlord Query of the Week and Uncategorized.
Property Owners’ Insurance – Reinstatement Valuations – How do I calculate the re-build costs?

Property Owners’ Insurance – Reinstatement Valuations – How do I calculate the re-build costs?

    Buildings are an asset and like any asset should be adequately protected. A property reinstatement valuation assesses the cost of reinstating the property to its original condition in the event of total destruction. It is extremely important to note that the market value of the property and the reinstatement valuation of the property are in no way linked. The reinstatement valuation should typically include the following:     The reinstatement valuation should be carried out by a chartered quantity surveyor who has experience in the type of building sector that the reinstatement valuation is being calculated on. The
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Categories: Landlord Insurance and Uncategorized.
IPOA Representing You

IPOA Representing You

IPOA has been busy over the summer months taking every opportunity possible to represent our members and the wider community of Residential Landlords. The recent Daft Rental Report shows that rental inflation has fallen to a six-year low.  It also highlighted that the amount of available rental accommodation is disturbingly low at 2,700 units available for rent on 1st May, the lowest ever recorded. The RTB Annual Report for 2018 issued recently shows a loss of 12,474 private rental tenancies between 2016 and 2018.  In 2012, there were 212,000 landlords in the sector compared to 173,197 in 2018. Rent Pressure
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Categories: News and Uncategorized.
Annual Registrations On The Way For Landlords

Annual Registrations On The Way For Landlords

Annual Registration is expected to commence in the first quarter of 2020.  The cost will be €40 per annum.  The late payment fee structure is similar in nature to the original structure of the Non-Principal Private Residence (NPPR).  A penalty of €10 will be charged in respect of each month or part of a month falling after such expiration until the tenancy is registered.  In a situation where a property owner erred and missed registering a tenancy and did not notice the omission for 4 years there may be a liability as follows: –    Annual Cost   Penalty Accumulating  Penalties   Year 1   €40  48
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Categories: Uncategorized.