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Large number of landlords exiting property market

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By Ted Healy of DNG TED HEALY

Alarming new figures have highlighted the growing number of landlords who have exited the market in recent times. More landlords than ever are putting their properties up for sale, evicting tenants and driving a rise in family homelessness, new figures suggest.

There was a sharp increase throughout last year in the number of 'Notice to Quit' issued to tenants, according to the Residential Tenancies Board (RTB), rising from 352 in the first quarter of the year to 958 in the final quarter.

Over half of all such notices were given because the landlord decided to sell the property. Over 600 landlords told tenants to move out because they were putting the property up for sale in the last three months of last year.

Many tenants have difficulty securing new places to live, with some requiring emergency accommodation.

Other reasons given – accounting for almost a quarter of all the 'Notice to Quit' – included that the landlord or a family member intended to use the property themselves. A “breach of tenant obligations” accounted for just 14 percent of the 'Notice to Quit'.

The figures from the RTB suggest 80 landlords a week exited the market in the last three months of 2021.
These are alarming figures indeed which show a large number of landlords looking to exit the market.
The property market crash of the late 2000’s saw Ireland create a large number of ‘accidental landlords’. Improved market conditions in recent times have seen people climb up out of negative equity enabling them to exit the market.

The majority of these properties are being purchased for family homes which in itself is a good thing, but the flip side is a declining number of residential rental properties in the market. At the time of writing there are only five properties listed as available to rent in Killarney; four of which are two bedroom apartments.

So what is the answer?

Incentivise landlords with tax breaks on rental income? Rental income is currently classed as general income incurring full income tax liability. Throw in stricter rent controls and compliance costs and is it little wonder people are exiting the market?

‘Good’ landlords who may not have increased their rent or perhaps reduced their rent over the pandemic period are now, in practice, being penalised with rent controls allowing for nominal increases. They are not allowed to now charge market rent for the property! While the theory of these rent controls makes sense and is certainly required, should a practical common sense approach also be taken in specific cases?

Should Local Authorities be allowed to buy any properties with HAP (Housing Assistance Payment) or RAS (Rental Accommodation Scheme) tenants in place, effectively becoming the landlord?

One thing is for sure, a plan needs to be put in place to slow down the disorderly exit of accidental and semi-professional landlords from the market or the already squeezed rental market faces further difficulties.

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Help reduce the appearance of cellulite  

By Jill O’Donoghue from Killarney Toning and Beauty Studio Needless to say we all know what cellulite looks like, but there are many ways to reduce its appearance and help […]

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By Jill O’Donoghue from Killarney Toning and Beauty Studio

Needless to say we all know what cellulite looks like, but there are many ways to reduce its appearance and help us look and feel better about it.

Yes, people often assume it’s down to a weight issue but it is associated with diet and exercise. It can affect all ages, male and female. There are many ways to help reduce and eliminate it.

Nothing can substitute for eating a healthy diet and getting enough exercise. Just as with other signs of ageing, cellulite is best managed first and foremost by focusing on maintaining a healthy weight long term. But certain topical treatments may help it become less noticeable and improve skin’s overall appearance, if used regularly. Dry body brushing is one technique to try by brushing upwards every day towards the heart for increased blood circulation.

Using anti-cellulite products can help if you are doing regular exercise and watching your diet, but if you feel you need a boost to get you headed in the right direction, there is a few different salon treatments that can be of benefit.

The Universal Contour Body Wrap is a great treatment which results in inch loss due to the detoxing effect of the sea clay or also the Electro Cellulite Massage rollers (ECM) by CACI Machine, which is a 12-session course over four weeks, this is recommended for desired results.

Pilates is always an amazing lifestyle choice. Having the toning tables for the past 30 years in Killarney, we are lucky to hear the amazing results from our clients past and present. Some have even been with us since we started! The male and female reviews have reported reduced cellulite with weekly appointments, improved posture, increased energy and mostly reduced cellulite.

To book an appointment or to find out more information, call 064 6632966. 

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Car dealers are now hubs for Ukrainian donations

Two Kerry-based car dealers are part of a national campaign to provide essential aid for Ukraine. Donagh Hickey Motors in Rathmore and Adam’s of Tralee are the two local garages […]

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Two Kerry-based car dealers are part of a national campaign to provide essential aid for Ukraine.

Donagh Hickey Motors in Rathmore and Adam’s of Tralee are the two local garages that have signed up for the project.

Under the scheme, the garages will be used as collection hubs for essential equipment that will be transported to the war torn country.

“We have a very large and loyal customer base and we are appealing through them to make donations,” Adam’s of Tralee General Manager, Marcus O’Shea, told the Killarney Advertiser.

“Any dealer could have signed up for this but we are one of only two in Kerry to do so.”

The garages, following advice from humanitarian agencies in Ukraine, have created a very specific list of what is urgently needed out there.

These include generators, solar battery chargers, batteries, power banks, flashlights, drones and tablets.

Medical equipment like First Aid kits (NATO standard) and other medical items are also sought.

People can assist by either dropping goods to the two garages or by making a donation via www.safeharbourforukraine.org.

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