McGrath statement of tax changes for landlords. Same as last year. Will never happen.

antoinolachtnai

Worth noting that government is giving AHBs massive tax breaks (they don’t pay tax on their rental profits) to provide the service provided up to now by landlords paying tax at 50+ percent.

Fol20

RPZ is the biggest reason for me on why im considering leaving. If they linked rent increases to inflation that is one thing but limiting it to 2pc or lower if inflation is higher is killing me.

I wish they didnt bother with these token gestures and actually allowed us operate and charge a fair market rate. Plumbers,electricians, banks offering a mortgage along with everything else all are allowed charge market rate while we are limited to ever increasing costs while increasing income to match these costs isnt allowed. i have one property well under market rate and increased rent by 100e over the past 8 years and even though todays market rate is x, it would be 19 years before i could get it to todays market rate let alone what costs will be in 19 years time. Property was a hedge against inflation and it seems impossible to at least keep up with inflation with such punitive measures. I just served them notice as its not tenable any longer.

I think if rpz wasnt there, more decent ll would stay in the market and if anything more would enter as they would see what rents are and would try and compete. More rental stock equals potentially cheaper rents over the long run. Instead RPZ has been in for so long and become such a political mess. If they take it away now. some people will see massive jumps in rent instead of natural increases over time and political suicide for any gov.

Fred Cryton

Problem is because they introduced the renters credit, now politically the benefit to landlords can never exceed that renters credit. Means tax breaks for landlords will have to go hand in hand with tax breaks for renters in future. That makes it far too expensive to give either much of anything. As usual total fumbling sh**show from Irish government. And SF would be even worse.

SharkMX

I was moaning about my accommodation situation at work the other day. A colleague was telling me he rented out his apartment here from when he got married until a couple of years ago. He said the numbers werent adding up for him and his hands were tied no matter what he tried to do so he gave his tenants notice and sold up. He wanted to remain a landlord, so he bought 2 apartments abroad and has them rented through an agent now and says he is making 3 times the money after tax that hew was making here with less money actually invested. He said no way would he ever think about rental investment in Ireland ever again.

Bass Reeves

A friend daughter is renting a room in a two bed in Bristol. It's 600 sterling a month. That is nearly 700 euro a month. Her brother is going similar in Limerick he is renting a two bed with his GF it's 1100 euro/ month.

Ireland is not as out of line with prices as many think

amacca

https://www.boards.ie/discussion/comment/121231126#Comment_121231126

Yeah, they are such a bunch of fools.

Abject failure to do anything except feather their own nests at everyone's expense.

The rental market would be a hell if a lot better off right now if they had stayed well clear of it....

Meanwhile their actual responsibilities are being shirked wholesale.

amacca

https://www.boards.ie/discussion/comment/121245274#Comment_121245274

Where has he the two apartments and where is he based? If you don't mind me asking...does he have a property company/letting agent manage it on his behalf?

SharkMX

https://www.boards.ie/discussion/comment/121247237#Comment_121247237

I think he said Spain is where they are. Part of me wants to say Portugal, but I think he only mentioned Portugal because he wants to buy another one there. It could be the other way around though.

I did ask him about management. He said he has an Irish guy who is running a property company over there managing them both, but there are lots of choices when it comes to outsourcing the management over there. Both are in the same town. He lives and works in Ireland himself.

amacca

https://www.boards.ie/discussion/comment/121248989#Comment_121248989

Thank you. Appreciate it.