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Landlords – New Notice Periods to be Aware of

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Although this June weather may not be what we had all expected, something you can always rely on us here at EcovisDCA to continue to bring you information which is vital to your business and financial lifestyle. This week we will be continuing in our series of posts detailing the new changes to rental legislation recently announced and put into place. Legislation can often be a bit of a minefield and with so many changes to the rental sector, we want to ensure that our clients and friends are well informed. This week we will be focusing on the new notice periods which have been put in place for landlords as well as the new introduction of remedial notices.

As of June 4th, 2019, the notice periods that a landlord must provide to a tenant when serving a notice of termination have been extended. It is vital that all landlords, regardless of their experience levels or how long they have been renting should keep a record of the below and familiarise themselves with these new requirements as any failure to serve the correct notice can result in the notice being rendered invalid. Changes can be agreed between both tenant and landlord, but this can only be done once the official termination letter with the appropriate notice period has been served. Below is a list of the new notice period requirements which will now be dependent on the length of time the tenant has been renting the property.

Tenancy Duration:                                                               Notice Period:

Less than 6 Months                                                                28 Days

Between 6 Months and 1 Year                                               90 Days

Between 1 and 3 Years                                                           120 Days

Between 3 and 7 Years                                                           180 Days

Between 7 and 8 Years                                                           196 Days

8 Years or More                                                                      224 Days

It is advisable that Landlords keep a printed record of these new notice periods and make themselves aware of these changes to avoid any issues going forward.

Another major change in terms of termination notices is the introduction of remedial notices. As of June 4th, 2019. This notice has been introduced to assist both landlord and tenant as an original notice served to fix the defect identified by the Tribunal can now be remedied by the issuing of a new remedial notice. Following a case lodged with the RTB, if deemed acceptable by the decision maker, either the tenant or landlord may have 28 days in which to serve a remedial notice. If the correct notice period was given, 28 days additionally may be served under the remedial notice, whilst if the incorrect period was given the new notice period will be 28 days in addition to the number of days the given notice period was short.

We hope that this series of posts is of assistance to you. As always, should you have any concerns of queries on any financial or business matters, please don’t hesitate to contact us here at EcovisDCA where we are always happy to assist.

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~ DCA PARTNERS, DECLAN DOLAN & EAMONN GARVEY

Taxation of Vacant Lots

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The vacant site register has become a hot topic of conversation in recent months as many of Ireland’s development firms have begun to fight back against their inclusion on the list. This register was introduced in 2017 in an attempt to deter the hoarding of land in areas that could be utilised for housing development. As we have spoken about recently, housing supply is running low as prices continue to soar so naturally the hoarding of land has become somewhat of a bone of contention.

One issue that development companies are fighting here is the financial cost. Once added to the register, the local council can issue levies of up to 3% of the site’s market value to the owner. The owner will then have 28 days to appeal their inclusion on the list, and failing this, appeal to An Bord Pleanála. This can of course add up to quite significant levies being applied, leading to a number of development firms currently fighting against their local councils to appeal their inclusion on the register including housebuilding giant Glenveagh Properties and Ziggurat, a big name in the student housing business.

According to studies completed by Fora, 39 cases have been appealed to the Board since the beginning of 2017, with 11 having come to an official decision, and only 3 being granted their wish of being removed from the list while 8 were decided to be kept on. Two of the overturned cases related to land owned by the Office of Public Works wherein it was decided that residential properties would not be an agreeable outcome for these sites.

Whilst the effectiveness has been called into question with so few councils taking the land hoarding situation seriously and what was described by Goodbody economist Dermot O’Leary as a “lack of urgency” it seems that there is still room for improvement. Recently, The Minister for Finance has appointed international economic consultancy firm Indecon to complete an independent review of the issue and begin to inform a new government policy in this area. There is currently a period of public consultation until June 29th, so be sure to make your voice heard if you have something to add, or other concerns regarding the taxation of vacant property. This is also an opportunity to suggest alternative options, should you have any in mind.

With housing in such short supply and with these issues being at the forefront of the public mind, this is sure to be an ongoing battle and concern. Should you require any help, advice or guidance on any financial or business matters, please don’t hesitate to get in touch with us here at EcovisDCA, where we will be happy to support you in getting your business to the next level.

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~ DCA PARTNERS, DECLAN DOLAN & EAMONN GARVEY