RTB report: large landlords leaving homes empty rather than reduce rents
A new survey by the Residential Tenancies Board reveals that despite the pandemic, large landlords and funds operating in Ireland have not taken a significant financial hit
Large landlords controlling thousands of homes in Ireland have the financial clout to leave them empty rather than reduce rents, and believe it is “prudent” to do so “to see how the market responds”, a new report by the Residential Tenancies Board (RTB) has said.
The finding was contained in an RTB report that was produced following a survey of large landlords with more than 100 properties under their control in Ireland.
Last year, the Business Post was the first to reveal that institutional landlords are sitting on hundreds of empty luxury apartments in Dublin, opting to leave the units vacant rather than cutting rents. Part of their motivation is to avoid setting a lower than desired rent that would then be restricted under existing rent pressure zone rules.