One of Ireland's largest priva...


One of Ireland's largest private landlords records profits of €42m

RedFM Sport
RedFM Sport

09:00 11 Aug 2022

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One of Ireland's largest private landlords recorded profits of over €42m and revenue growth of almost 7% in the first six months of the year.

The six-month report published by Irish Residential Properties REIT found 99.3% of their properties were occupied during that period.

It comes as there's been a fall in the amount of private rental property on the market, as smaller landlords sell-up.

Pat Farrell the chief executive of the Irish Institutional property, which represent larger landlords, says government need to intervene to help small-time property owners.

"The taxation of institutional landlords is on the very same basis as it is for smaller landlords.

"Landlords in the institutional sector are not charged on their profits, as that would represented double taxation, but they are required to be taxed on the distribution of their profits.

"Clearly some intervention is needed, particularly for the smaller and medium sized landlord who are leaving the market."

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