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.
News
Matt Britton Flooring Now Open in Cork
Matt Britton a thriving, local, sustainable, family-run business that has evolved into the ultimate destination for Ireland’s finest hardwood flooring, luxury carpets and bespoke rugs is now open in Cork. […]

Matt Britton a thriving, local, sustainable, family-run business that has evolved into the ultimate destination for Ireland’s finest hardwood flooring, luxury carpets and bespoke rugs is now open in Cork.
Established in 1997 by brothers Matt and Craig, both fitters by trade, Matt Britton has become a popular household name throughout Ireland, a favourite among Ireland’s top interior designers and has been featured in an array of celebrities’ homes, including Peter O’Mahony, Johnny Sexton, Conor Murray, Pippa O’Connor, Vogue Williams, Rosie Connolly, and Suzanne Jackson, among others.
Recent expansion plans included the opening of their fifth showroom, Matt Britton Cork, unveiled by Ireland, Munster and Lions rugby legend Peter O’Mahony.
“We are delighted to have launched our first Munster store as part of our expansion plans across Ireland. We have been overwhelmed with positive feedback from our customers who have previously travelled from Munster to visit us in Dublin and Wicklow and this has encouraged us to open a store closer to home for them. Moreover, we are pleased that the opening of this showroom has allowed us to create 10 new jobs in the local area,” said Managing Director Matt Britton .
Their showrooms are designed to offer customers a luxurious experience and showcase their extraordinary collection of hardwood flooring, opulent carpets, and bespoke rugs tailored to clients’ unique preferences.
News
Quest Killarney named Ireland’s best fitness and wellness event
Quest Adventure Series organised by Kerry based Elite Event Management came out winners at the Gym+Coffee Make Life Richer Awards. Quest won Best Large Fitness and Wellness Event, beating other […]

Quest Adventure Series organised by Kerry based Elite Event Management came out winners at the Gym+Coffee Make Life Richer Awards.
Quest won Best Large Fitness and Wellness Event, beating other well-known names in the fitness and event industry.
Irish gym clothing company Gym+Coffee established the Make Life Richer Awards as community-based awards that celebrate those who ‘Make Life Richer” to include people who have the same passion as they do and facilitate events and meet-ups that bring people together.
“The team at Quest are super-proud of this award and the achievement and would like to thank everyone who voted for them, and enjoys being part of the Quest community.,” said Elite Event Management’s Rebecca Kemp
Entries for Quest Killarney October 7 are now open at www.questadventureseries.com