Homeowners not registered with RTB will ‘get caught’.

Dublin: The implementation of the 500 euro rent credit plan outlined in this year’s budget to assist tenants may cause the “fake” landlords to crumble. According to charities such as Threshold, people who make huge quantities of money in rent without registering with RTB will be caught. Those that run rental BIS without RTB registration will be caught when the 500 euro credit is handed out.

This year and next, tenants can receive a €500 credit. A $500 tax credit will be available beginning this year. Only RTB-registered renters will be eligible for credit. This year, renters who do not get any other government aid will be eligible for a $500 tax credit. Renters have to claim it through the Revenue Commissioner.

Landlords who rent out their properties are required by law to register the rent with the RTB, although the vast majorities do not. It is common practice to rent without registering. As the renters claim the tax credit, information and data about the landlord will be revealed.

According to a recent poll performed by the journal Road and Surrounding Areas Residence Association, 60% of landlords rent out their properties without paying RTB.

There is also concern about whether they are paying the correct amount of tax on rental income to the government. As a result, more people will register. According to Edel Conlon, Regional Manager at National Housing Threshold, this is a significant step for the housing market.

Many people cannot afford the present rent, and the 500 euro loan is insufficient. He insists that this amount be raised or that further palliative measures be used.

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