News
Large number of landlords exiting property market
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.
Top golf scores at Mahony’s Point
Ivan Tagney and Aoife Twomey secured top honours at Killarney Golf and Fishing Club as members turned out in large numbers to compete for Captain Tomás Kelliher’s Prize on Mahony’s Point.
In the men’s event, Ivan Tagney claimed the Captain’s Prize with an impressive 42 points. Conor Dillon carded 48 points, returning the lowest score of the weekend, though he was ineligible for the main trophy without an established handicap.
Despite wet weather, the ladies section produced remarkable scoring on Sunday. Aoife Twomey took first place playing off 28 handicap, recording a nett 63. June O’Brien finished runner-up with a 67 nett, followed by Kay O’Connor in third with a 69 nett.
Captain Tomás Kelliher extended his thanks to the committee, staff, and volunteers for organising the flagship competition, praising the course condition and strong turnout across both events.
Results
Men’s Captain’s Prize 1st: Ivan Tagney (42 pts) Best Score: Conor Dillon (48 pts) 3rd: Joseph Sheahan (41 pts) 4th: Michael Cotter (41 pts) 5th: Emmet Scanlon (41 pts) 6th: Ian Sherlock (41 pts) 7th: Cathal O’Connor (40 pts) 8th: Aaron McCann (40 pts) 9th: Dan Quirke (40 pts) 10th: Mark Tuite (40 pts) 11th: Alan O’Meara (40 pts) 12th: Donal Begley (40 pts) Best Gross: Donal Considine (72) Category 1: 1st Kevin Leacy (39 pts), 2nd Ian Cronin (39 pts) Category 2: 1st Adam Carey (40 pts), 2nd Jack Crehan (40 pts) Category 3: 1st John McEnery (40 pts), 2nd Thomas Coleman (39 pts) Category 4: 1st Mike Dreelan (38 pts), 2nd Jason Reen (38 pts) Front Nine: Aaron Coffey (24 pts) Back Nine: Chris Myers (24 pts) Past Captain: Pat Cussen (38 pts) Over 70: Joe Geaney (39 pts) Committee Prize: Shane Horgan (38 pts) Guest Prize: Jack Kelliher
Ladies Captain’s Prize 1st: Aoife Twomey – 63 (28) 2nd: June O’Brien – 67 (20) 3rd: Kay O’Connor – 69 (13) 4th: Louise Langan – 70 (19) 5th: Mary Tobin – 71 (20) 6th: Geraldine Tarrant – 71 (26) 7th: Kathleen O’Keefe – 71 (19) 8th: Noreen O’Callaghan – 72 (18) 9th: Anne Moynihan – 72 (2) 10th: Breda Duggan – 72 (29) Best Gross: Kelly O’Donoghue (76) Front Nine: Kate O’Leary Back Nine: Sarah O’Brien 13-Hole Competition: Maud Malone – 24 pts (28)
‘Natural Kerry’ opens at Killarney House
Tralee Art Group’s ‘Natural Kerry’ exhibition officially opened at Killarney House and Gardens on Saturday, August 8, celebrating the landscapes, people, and culture of the Kingdom.
Opening remarks were given by TAG Chairperson Caitríona Foley, who welcomed artists, family, and friends before introducing special guest Michael Gleeson, former Mayor of Killarney and current Chairperson of Killarney Tidy Towns.
Addressing attendees, Michael spoke on the unique gift artists possess in capturing and sharing the beauty of Kerry through their work, offering a thoughtful reflection on the inspiration behind the collection.
The well-attended launch drew a large crowd to view the artwork, meet the artists, and enjoy the surroundings of Killarney House. Tralee Art Group extended its thanks to the staff at Killarney House and Gardens for hosting the event.
‘Natural Kerry’ runs until August 27. Many of the featured artworks are available for purchase, with enquiries available online at www.traleeartgroup.ie.
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