Almost 3,000 notices of termination were received in the first half of 2022, as many small landlords and property managers in Dublin are exiting due to the regulatory and deeply onerous taxation burden on non-institutional landlords.
Research conducted by the RTB last year found the main reason given by landlords for selling their rental properties was that they ‘no longer wished to be a landlord’ (55%), followed by it ‘was not profitable’ (28%).
A strategy must focus on how small landlords can be incentivised to remain in the sector.
An Imbalance In Support
With governments focusing on supporting tenants in order to ease the homelessness rates, There has been a disproportionate burden placed upon landlords.
Landlords, however, have been silently struggling to stay afloat and are in need of support to drive forward. Landlords and property investors want to see stability in the rental market and to have confidence in it.
Investing in residential rental property can still be a lucrative way to increase your wealth, though it can come with many difficulties.
What’s Next?
While some landlords are choosing to exit the property market in Ireland it should be noted that this presents new and exciting opportunities for entrepreneurial landlords, there has been a deficit in the amount of housing available for sale in Ireland , with some landlords choosing to sell their properties rather than continuing with rentals this allows for two positive outputs.
More properties available on the market means temporarily lower property prices and a surplus of potential profitable properties for sale.
Property Management Company Dublin
KPM Group has helped countless landlords free themselves from the day to day management of their portfolios and trust us to deliver the maximum return on investment while providing quality property management services.
If you would like to speak to us here at KPM about your portfolio, then get in touch today, and a member of staff will be happy to help in any way we can.
