A friend of mine and his wife just move out of a cabin at the back of his parents house into a 3 bed house they just bought, which was an ex-rental. The state of the place was left in by the tenants was disgusting, but the point is thats 1 x 3 bed house gone from the market and one shed added to the market - oh wait its now a shed for his parents tools etc.
Spot on. I saw a comment on The Journal (I know I shouldn't waste my time reading those) the other day from a guy calling for a reduced rate of tax on income up to €40k. Eh that already exists mate. Amazing how so many of these landlords cannot grasp the tax system here, and that somebody who does overtime or a second job is taxed in the same manner as the landlord (without the ability to deduct mortgage interest, repairs, capital allowances, etc).
We call ourselves a modern society, but still seem to have the same hang ups about landlords dating back to when we were under British rule.
If small landlords continue to leave the market, who could blame them, and the politicians promise that it will be dealt with in six months is way beyond a joke now.
There’s no problem, landlords will continue to leave and that’ll be that, so reality is if you want to keep them providing what is let’s face it an essential service, than you give them tax breaks for providing that service, rent a room is tax free up to 14 grand, so that there.
all the gnashing of teeth and complaining that you have to pay tax on the fact that you did a bit of web dev or whatever in the evening isn’t the same thing, so yep keep taxes asks and watch them run for the hills.
For what it’s worth I think it’s too late for the tax treatment to be effective, people are scared and see the possibilities of a Sinn Fein government trying to confiscate their property, now if there was zero tax and the government paid a fee on top of it…….😜
And now a couple has a place they can make their own, and maybe raise a family with a level of security and independence.
What about a contract.
Zero tax for a five year lease with right to evict and sell at end of contract.
Gives breathing space to sort the supply issue.
Sure I heard of a homeless fella living in a cardboard box under the bridge. He bought a lottery ticket and won a million quid and bought a house that was previously rented to tenants.
"the point is thats 1 x 3 bed house gone from the market and one shed cardboard box added to the market - oh wait its now a shed for his parents tools etc gone for recycling."
Someone get onto Christine Lagarde quick so that she can use that anecdote to set monetary policy across the EU. Or even better still, get onto the Fed before they decide on US rates at their meeting today.
Seriously though, what was the point of your mans anecdote - a couple moved out of a garden shed and into a house? Is it a sign of the end of days or something that they didn't stay in the shed?
Its reality.
The homeless figures bad as they are don't half tell the full story.
But the rental market is decreasing in numbers because of this process and has been for years.
That can mean renters like young people starting careers emigrating, increases in short term homelessness and it's a deterrent to skilled people accepting jobs here from abroad. It's important to have a functioning rental market.
Hahaha the tax hasn't changed , why is there a need for a tax break. Greed. There needs to be greater autonomy over their property. But people with more than 1 property do not need more money.
Incentive, given that they don't seem at all inclinced to give any control at all, never mind greater autonomy, to landlords over their property.
Although the way things have gone they'd have had to offer me a 100% tax break to stay, and it probably still wouldn't have been enough.
Forced retirement for second property owners seems a bit extreme!
How is a bit of Web development in the evening any different to being a landlord when it comes to the generation of income and the tax rate that should be applied?
Supply and demand.
The web development is actually contributing to the economy whereas rental income is purely passive rent-seeking income.
Would the person doing overtime or a second job be compelled to continue work when they are not being paid. And to carry on this for a few months ?
While not ideal, perhaps tweaking the tax system is the only option in a country where the State decides the rent, but if is not being paid, ah you’re on your own there buddy and suck it up for a few months.
How is it forced retirement?
Tax breaks for LL stuck in an RPZ charging below market rent I'd be on board with. Autonomy over their property needs to change , giving LLs more money will NOT do that. And as you said yourself tax isn't the problem.
Exactly, but that post was meant for the people who think that landlord selling and people buying is a zero sum game.
What idiot would believe that they wont move the goal posts again in a few months, every few months in fact. Nah, dont trust a thing from them.
Also conditions on your tax relief over and above just leaving your property for rent. More rules and bureaucracy, as if we dont have enough. Sell up and have a more peaceful life.
No but a properly resourced RTB should be dealing with this. And I fully support a system where a non paying tenant is turfed out on their ear and the locks changed (cost taken from deposit which should be lodged with the RTB). County Sheriff to be given responsibility to do this.
I am not a landowner but I am the owner of a mortgage.
Your post is ridiculous tbh.
What do you mean people with more than 1 property do not need more money?
How does that make any sense?
You can't move the goal posts on a legally binding contract.
You'll carry on working at that project for years. We wont pay you. But you cant ever stop. And you'll do it as a service to your country :)
You can give us notice, but it better be in perfect writing and if we dont like it you will go through an agency with your dispute. Could take years, but we are happy with that. You will not stop working for us :)
Because a tax break should go to people who NEED it. Pretty simple. Landlords do not need a tax break. Sell the house. Won't be conversing with a WUM.
The residential tenancies act does.
Where have you been living the last 10 years :)
Cant believe you just wrote that.
How are those contracts going between tenants and landlords? They are totally one sided contracts and changing all the time with legislation.
I don’t have an issue with the tax system as it stands but that’s because when I rented my property, the rent was low and my credits were high.
Is there any TD in the Dail that has advocated for a fast process of removing non paying or anti social tenants? It’s like a taboo subject when the writing on the wall says “IT’S A MAJOR ISSUE”That’s why I’m out of the game and no intentions of jumping back in when it’s already been decided that the tenant is the winner.
You don’t pay your rent, the property owner should be legally entitled to take back possession within a couple of months. Their financial issues shouldn’t be a landlords problem. You want to keep a roof over your head? Stop taking the p1ss .
I wasnt saying otherwise
Not really - If you think about it in terms of "renter units" a house moving from rental to private ownership probably reduces the number of "units" able to rent.
For example - 3 Bed house rented out today has 3 individuals renting it - So 3 "units".
That house is now sold and moves to Private ownership by a newly married couple - They were previously a single "unit" if they lived together in rented accommodation or perhaps 2 if they lived separately .
That property has now gone from hosting 3 "Units" to hosting 1 or possibly 2 "units" , so it's a decrease in overall available rental spaces.
![Photo of [Deleted User]](https://w0.vanillicon.com/v2/04cbf1b64e8b0e561c543c5b1091ba30.svg)
