The Irish Property Owners’ Association insists that private landlords are “on the brink” and can’t take more pain in the upcoming Budget.
Chairman of the IPOA, Stephen Faughnan called on the Government to “extend the hand of friendship” to the private rental sector as they provide over 600,000 people with homes.
“92,000 avail of rent supplement, the responsibility of the State to house, but the State are unable to provide this accommodation. We need balance; not another blow which, will no doubt banish investors. Will there be a private rental market in five years,?” he said.
He listed the charges landlords have to cope with including NPPR of €200 per unit; PRTB Registration increased to €90 per unit; BER Certification €250; Universal Social Charge 2-7%; mortgage interest allowance reduced by 25%; increased standards; increased Capital Gains Tax to 25%; increased Capital Acquisitions Tax to 25%; rent control by the Department of Social Protection; negative equity; bank interest increased and terms of loans altered; reduced rents as well as upcoming property tax and water charges.