If you rent a property which is covered by the Residential Tenancies Act 2004 then you must register a tenancy with the PRTB, if you get the registration in within a month it will cost €70, if you are late it is €140. This fee gives the landlord virtually nothing and if you don’t register the PRTB can (in case of any dispute), defend the tenant but not accept any complaints from a landlord.
The fact that this is so one-sided is evidence that there is an anti-landlord undercurrent which is highly prevalent in Ireland goes so far as to be expressed in legislation. Contrary to popular belief, a landlord has very little ability to turf out tenants or behave in a manner which is one sided.
If you don’t register your tenancy you cannot offset mortgage interest against rental income, the laws on offsetting expenses (mortgage interest) for landlords have changed, and now you can only offset 75% of the interest against rental income, if you had this reduced to zero for not registering with the PRTB you could be sitting on a large tax liability.
The PRTB is not what we would call a ‘fair’ system, there are rights heavily in favour of tenants which don’t give ‘fairness’ or ‘a level playing field’ or even ‘relevant recourse’ rather the law has gone to the extreme of providing a brand of protectionism, whereby a person who invests their capital to provide shelter at a cost can be manipulated by the system with little or no recourse to the individual receiving the benefit of the asset. In other words, a landlord can spend an unlimited amount of money on a property, in its upkeep etc. and a tenant can decide not to meet their end of the contract (pay rent on time) and then there are a plethora of mechanisms that come to their defence be they in the right or wrong, and in the end they usually walk away scot-free. So is it any surprise that the by-product of this is landlords putting more punitive measures into lease contracts? Hardly….