Landlords claim they are considering selling their properties because of onerous new short-term letting regulations.
he new letting regulations introduced today could result in those who flout the rules being fined €5,000 or jailed for six months.
And it has been claimed that the new legislation will see landlords take their properties off short term rental schemes, like Airbnb.
Speaking to Independent.ie, the chairperson of the Irish Property Owners Association (IPOA) said that short term letting is ‘labour intensive’ and does not appeal to most landlords.
“It is likely that there will be some properties brought back into the private rental sector, however, landlords with large borrowings will not be able to service the borrowings from the income from letting in the private rental market and are likely to sell,” he said.
“Legislation around rental property is continually changing, complex and difficult with more changes expected this year, in a