rent

  • A Mayo Councillor has called for smaller landlords to be exempt from tax on the income they earn on second properties.

    Killala based Fine Gael Cllr Jarlath Munnelly had a motion down at this week’s monthly meeting of Mayo County Council asking the Minister for Finance to exempt income generated from private rented accommodation from taxation in next year’s budget.

    Cllr Munnelly stressed that this was aimed at the small landlords, who only have one or two properties.

    He said it would allow landlords to rent out these properties at a reasonable rate, which could help to alleviate the housing crisis.

    Cllr Munnelly says many properties around the county are vacant at present, because these smaller landlords cannot afford the taxation on the income generated by them.

    The motion received the backing of his fellow councillors at the meeting.

  • Not one single property in Galway City or Athlone is affordable to those in receipt of rent supplement or housing assistance payments.

    That’s according to new figures compiled by the Simon Community from figures supplied by property website Daft.ie.

    The report looks at11 areas across the country, including Sligo town, Galway city and Athlone, and found there were no properties available within HAP limits in four of the 11 locations, with two other areas having just one available property.

  • Rents in Co Mayo increased by over 7% in the first three months of this year, compared to the same period last year.

    The average advertised rent is now €654 per month.

    This is considerably lower than the national average rent of €1,261.

    Rents nationwide rose by an average of 11.5% in the year to March 2018, according to the latest quarterly rental report by property website Daft.ie.

    Rents in Dublin rose by over 12% to an average of €1,875 per month, while in Galway city, rents increased by over 13% to €1,130 per month.

    Author of the report, economist Ronan Lyons, says the increasing rents are due to the chronic and worsening lack of supply of rental homes.

    He says policy must focus on dramatically increasing the construction of urban apartments over the coming years to meet demand.