LANDLORD SECTOR ‘THROWN UNDER BUS’

LANDLORDS have been ‘thrown under the bus’ by the Government, it has been claimed.

Richard, a landlord with four properties, told RTÉ’s Today With Claire Byrne Budget phone-in that landlords do not feel valued.

Finance Minister Paschal Donohoe and Public Expenditure Minister Michael McGrath answered questions from members of the public during the radio programme, less than 24 hours after they delivered Budget 2023 in the Dáil.

Richard said he had been waiting to ‘get some light’ in the Budget, but added: ‘What I’ve seen is that we’ve been thrown under the bus.’

Landlords had called for the Government to introduce incentives to keep smaller landlords in the market.

Instead, Mr Donohoe on Tuesday announced he was enhancing the pre-letting expenses regime for landlords by doubling the amount that can be claimed per premises to €10,000 and by reducing the period for which a premises must be vacant from 12 to six months.

Richard told the ministers that introducing schemes for new landlords was ‘not going to cut it’ for existing ones and that it would force smaller landlords to get out of the market.

‘You have actually got them – you need to keep them and the only way to keep them is to try and help them to stay in the business.’

Mr McGrath said: ‘While the measure that Paschal [Donohoe] announced is intended really to assist in attracting more landlords into the market, I think it does send a signal. It is a signal from the Government to landlords: we want you to stay and we want people who are interested in investing in property to look at it as a viable proposition.’

But the caller said landlords were ‘not valued whatsoever’.

James, another landlord with four rental properties, told the programme: ‘As an existing landlord, I have no incentive. In fact... I’m more incentivised to exit the market.’

Mr Donohoe said the measure showed the Government’s ‘desire’ to support smaller landlords.