"Independent research all show that the burden of being a private landlord is just not worth the effort".
The representative body for private landlords has expressed "very grave concern" over the proposed Residential Tenancies (Amendment) Bill proposed this week by the Social Democrats.
The Irish Property Owners Association (IPOA) describe the proposed legislation as "another death knell" for the private rental sector. In a note to members, IPOA Chairman, Stephen Faughnan, said; "Independent research by such reputable bodies as DKM Consultants, KPMG, the Irish Tax Institute and Chartered Accountants Ireland all show that the burden of being a private landlord is just not worth the effort".
He went on to condemn the rift which has occurred between market rent and reality saying that a buy-to-let is not self-financing when account is taken of the extraordinary costs lashed on private landlords through unfair taxation and not being able to offset hefty and quite legitimate costs incurred in letting a property.
"The proposed Bill is as deficient as the Government's sustained assault on private landlords, an assault which is not replicated when it comes to others in the rental market such as vulture funds. Among the real reasons for the housing crisis is not the actions of private landlords, but rather the actions of certain political forces jockeying for electoral advantage, the toleration of the banks applying unnecessary and inflexible pressure on landlords in arrears, and the crucifying taxation and regulations applying to private landlords.
"Attacking private landlords who make up a substantial portion of the accommodation market cannot and will not help to resolve any housing crisis."