HOUSING RENTAL MARKET IN CRISIS!
Louise Morton of Wexford Rentals & Property Management believes that increased costs imposed on Residential Landlords by the State is placing more pressure on the Rental Market and ultimately the end user – the tenant! The basic costs of providing rental accommodation is rising resulting in INCREASED RENTS! Of the rent received by Landlords nearly 62% is passed onto the Govt by way of Income Tax, USC, PRSI and Local Property Tax. 71% of Irish Landlords have insufficient income from their rental property to cover their mortgage repayment. This is unsustainable!! Commercial Investors are treated more favourably in tax law than residential investors even though this sector is aiding the Government by providing homes for the Rental market!
