My Budget: ‘What did budget do for me as a landlord? Absolutely nothing’

Landlord says Government has again missed a great opportunity to rectify something here

Landlord  Stephen Faughnan says the re-introduction of accommodation such as  bedsits should have been addressed

Landlord Stephen Faughnan says the re-introduction of accommodation such as bedsits should have been addressed

 

“What did Budget 2018 do for me as a landlord? Absolutely nothing,” says landlord Stephen Faughnan, who believes that the Government has done nothing to keep smaller landlords in existence.

The 70-year-old, who owns a number of rented properties, told The Irish Times that he has owned private rented accommodation for the past 45 years and it keeps getting tougher for both landlords and tenants.

Thirteen years ago, Mr Faughnan owned enough properties to house 120 people, but he has downsized since: “I now can only accommodate 28. That’s the type of level of exit we’re dealing with,” said Mr Faughnan.

Missed opportunity

“The Government has again missed a great opportunity to rectify something here. There was nothing done for the tenant even in this budget only the HAP [Housing Assistance Payment] deal has increased.

“People on social welfare do need this help so that’s a small benefit to them as they cannot compete with the private rental sector,” added Mr Faughnan.

The re-introduction of accommodation such as the once common bedsits should have been addressed, said Mr Faughnan, who said some bedsits have been left empty, as a result.

“The Local Property Tax was something I was hoping that would be addressed, but sadly not,” he added.