The Challenges Facing Landlords
Tenancy Terminator Will be Back
We have spoken numerous times in the past about the many challenges facing the housing situation in Ireland at present. From increasing rental and purchase costs, to more stringent rules and regulations, it has undoubtedly become more and more difficult to access appropriate housing in Ireland in recent years. Something we have not touched on quite as much however, are the challenges facing Landlords in these modern times. Changing rental legislation has a direct and serious effect on these forms of business owners, and with new legislation having come into effect as recently as May 31st, there may be a lot to that Landlords may not be aware of, so we have decided to dedicate the coming weeks to the unpacking of this new information.
The Residential Tenancies (Amendment) Act 2019 was officially signed into law on May 31st 2019 and introduced many significant changes to the rental sector which have already come into effect, as well as others which will follow over the coming months.
Termination Notice Changes (4th June 2019):
Under new legislation there will now be new obligations for landlords if they end a tenancy for the purposes of sale, a family member living in the property, change of use or renovations. In the event of the property being used to house family, the landlord must offer the property back to the tenant for a period of 12 months if it becomes vacant again, a change from the previous requirement of 6 months.
Similarly, should a property be for sale, not sell and become vacant again the period is increased to 12 months that it must be offered back to the tenant if vacant. A landlord now has 9 months from the termination date to sell the property. A statutory notice of intent to sell will also be required.
There will also be more stringent rules in place for notice of renovations and the landlord must provide further information on the notice of termination of the tenancy including:
- Planning permission if required.
- Contractor details.
- Start date and duration of the works.
- Renovations cannot proceed while the dwelling is occupied.
- The property must now also be offered back to the original tenant on completion of the work.
Change of Use:
In the event of a landlord wishing to change the use of a property for example from residential to commercial the notice of termination must include the following:
- A copy of planning permission (if required).
- A statement of the new intended use.
- Details of work to be carried out.
- The name and details of the contractor.
- Dates and duration of the works.
Once again, the landlord is also required to offer the property back to the original tenant if it becomes available for rent again.
We hope that this information is of use to you, and we will continue this series of posts over the coming weeks in order to ensure that any of our clients and friends in the rental sector are fully informed of these changes. Should you have any queries or concerns on any business or financial matters, please don’t hesitate to contact us here at EcovisDCA, where we are always happy to help.