Landlords may quit State rent scheme over ‘severe’ cap plans

Landlords are threatening to withdraw from the State rent scheme and introduce a series of new charges for tenants.

In a statement, the Irish Property Owners’ Association, which represents 5,000 landlords, said they are contemplating their strategy for the future.

This is in response to the decision by the Government to introduce rent caps in Dublin and Cork.

Chairman Stephen McNamara said: “Property owners could not get sufficient income to maintain their property. The measures being introduced are so severe that rents will not cover costs and devaluation of property will be significant, all adding to the exit of the investor.

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“It is notable that Government and those demanding change are oblivious to the huge burden that all these measures will have on the tenants and the loss of supply.”

Mr McMahon said service charges, registration fees, car parking fees, letting costs and call out payments are being examined.

Property tax

He said the landlords could pass on the property tax contribution to a tenant.

Compensation in full for damages and barring orders for anti-social behaviour are also in line.

The Dáil is currently debating the legislation to introduce rent caps in Dublin and Cork.

It is expected it will be extended to a number of areas including Galway,Waterford, Limerick, Louth, Meath, Kildare and Wicklow by the end of January.

There are also measures to introduce longer-term tenancies from four years to six years.