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50% favour rent caps to alleviate rental sector woes

Written by Robert McHugh, on 6th Dec 2019. Posted in Ireland

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Security of tenure and affordability are key issues for people renting in Ireland today and the vast majority of the Irish public would like to see the Government introduce measures to address these issues. 

This is according to the latest Taxback.com Taxpayer Sentiment Survey. Taxback.com asked for the views of 2,500 clients nationwide, in order to ascertain public sentiment towards the plight of tenants in this country and found that 86% favoured the introduction of tax incentives to landlords to offer lease terms longer than 12 months.

The survey also found that 50% of people felt that rental caps were the most important change that could be made within the sector. 

Respondents to the Taxback.com survey were also asked - If one change was to be made, which do you believe would be most important to the rental sector?
Caps on rents in various locations throughout the country 50%
Changes in regulation to give tenants more rights and security of tenure 42%
Changes in regulation to give landlords more rights 8%

Speaking of the findings, CEO of Taxback.com, Joanne Murphy said, "The issues facing tenants in the rental sector have been well documented over the past year, with soaring rents and the lack of supply of accommodation being chief among them. According to Daft.ie, the average rent in Ireland reached an all-time high of €1,403 in the third quarter of this year, with rents in Dublin more than doubling since bottoming out in late 2010. People are increasingly looking to Government for solutions and effective measures and strategies to alleviate the pressures they are facing."

She added, "On top of this, property prices and a lack of supply has meant that more and more people in the country are renting for longer. Concerns for a new profile of long-term tenant were played out in the survey with the vast majority of those surveyed believing that tax incentives to encourage longer term leases would be a welcome move."

Source: www.businessworld.ie

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