The Action Plan for Housing.

Imo landlords are leaving in droves because of the current house prices and having to deal with the RTB which are a shambles. Are tax breaks going to keep them there? Don't think so.
I think tax breaks would keep a lot more of them there. The reality if you are declaring all of the rental on a property is that unless you inherited it, or bought with cash, the rent will come nowhere near covering the mortgage once tax and every other deduction is taken into account. If properties even just broke even or made a small profit I think landlords would hang in there and look at them as pensions/investments for kids etc. Paying a loss every year grinds people into submission.

Obviously others will simply see a profit now in the sales price that wasn't there and have gone for it, but the changes in tenant rights coupled with the taxation is making it pointless for too many
 

TheOutdoorThreadmill

Poster of Savage Greatness.
I think tax breaks would keep a lot more of them there. The reality if you are declaring all of the rental on a property is that unless you inherited it, or bought with cash, the rent will come nowhere near covering the mortgage once tax and every other deduction is taken into account. If properties even just broke even or made a small profit I think landlords would hang in there and look at them as pensions/investments for kids etc. Paying a loss every year grinds people into submission.

Obviously others will simply see a profit now in the sales price that wasn't there and have gone for it, but the changes in tenant rights coupled with the taxation is making it pointless for too many
If you make a loss you can carry this forward until you make a rental profit again.
 
If you make a loss you can carry this forward until you make a rental profit again.
I'd say you could only get that to work if the property is owned by a business or a pension. Rental income is taxed the same as salary or any other income, so you dont have accounts that roll forwards and back like a business would. Once revenue get their cut, and the preemptive tax payment for the following year they don't give a shite if its profitable or loss making.
 

TheOutdoorThreadmill

Poster of Savage Greatness.
I'd say you could only get that to work if the property is owned by a business or a pension. Rental income is taxed the same as salary or any other income, so you dont have accounts that roll forwards and back like a business would. Once revenue get their cut, and the preemptive tax payment for the following year they don't give a shite if its profitable or loss making.
 
Ah, fair enough - I thought you meant you could offset the losses against the taxes owed the following year. You can offset the losses down the road against the tax set against the profits only which is fair enough, but wont keep landlords there waiting against the 4% per annum restrictions on that rent increasing
 
Next time you drive through castlemartyr count the derelict buildings on the street, all owned by one business man who refuses to do anything
with them,
Same issue in Youghal main street.

Use it or lose it or else pay a substantial annual charge as it is pure vandalism and waste of resources letting buildings crumble before our eyes and in some cases dangerous.

They obviously do not need the money.

The balance has to swing towards the owner/occupier or renter as society is suffering at this stage.
 
Same issue in Youghal main street.

Use it or lose it or else pay a substantial annual charge as it is pure vandalism and waste of resources letting buildings crumble before our eyes and in some cases dangerous.

They obviously do not need the money.

The balance has to swing towards the owner/occupier or renter as society is suffering at this stage.
So unless you use your private property in a way that is compatible with what the government thinks is best at any given time, the government can take it off you?
That doesn’t sound right.
 
So unless you use your private property in a way that is compatible with what the government thinks is best at any given time, the government can take it off you?
That doesn’t sound right.
Yes, The State already via a Compulsory Purchase Order purchase's derelict buildings that are a hazard where the owners do not maintain them etc.


Four derelict buildings on North Main Street are to be acquired by Cork City Council.
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A report from the Irish Examiner this morning says An Bord Pleanala has approved the compulsory purchase orders of the buildings at 62,63,64 and 65 North Main Street, saying that they considered them to be derelict.

The report from An Bord Pleanala said that the buildings were in ‘ruinous and dangerous condition’, and ‘neglected and unsightly”.

The buildings have been on the derelict sites register since 2015, with number 63 North Main Street partially collapsing two years ago – the structure has bee supported by steel frames since.

The City Council began the process to acquire the four buildings last summer, along with two properties on Barrack Street – the board approved the compulsory acquisition of those two properties in December.

Try leaving a building empty and go to ruin in the Netherlands and you will not have it very long as they see they see the greater good for society rather than someone slowly assembling a site, let it go to ruin and then demolish the buildings anyway so they can make a great big profit while the city has to look at buildings falling down for years and then pick up the tab anyway and people crying out for homes.
 

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Winthrop Avenue, Winthrop Lane

26th Oct 2022 @ 7:00 pm
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Neil Delamere

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