News

Private landlords being taxed out of rental market, report finds

James Cox

Private landlords are being taxed out of the Irish rental market, according to a new report commissioned by the Institute of Professional Auctioneers (Ipav).

The report found rent pressure zones are creating a two-tier rental market, where maintenance of quality accommodation is not financially viable.

An Ipav survey found 94 per cent of private landlords said they are considering leaving the market because of government policy.

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Ipav chief executive Pat Davitt explained why private landlords are leaving the rental market.

Mr Davitt told Newstalk: "The fact of the matter is that non-constitutional landlords are treated very differently to constitutional landlords from our tax laws and others.

"An average of 50 per cent on their rental incomes is paid on taxes. They must comply with onerous legislation that is frequently changing.

"It is so convoluted that there is now a mini-industry of consultants that have been spawned to advise landlords on compliance and legislation."

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