An extensive survey of Ireland's private rental market shows that the majority of tenants and small landlords have a positive attitude towards the rental experience.
According to RTE, the study, commissioned by the Residential Tebanes, touched on the views of small, medium and large landlords, tenants and leases**.
The survey found that 83% of tenants in the private rental market have a positive or very positive attitude towards their current property, and 3% have a negative or very negative attitude.
The median Irish renters spend 30% of their monthly net income (after taxes and excluding bills, service charges, etc.) on rent.
The survey showed an upward trend in rents, but nearly seven out of ten respondents said they had not paid rents since the start of their leases**.
There has been an increase in the number of tenants receiving rental support, with one in five tenants receiving some form of assistance. Of those, 83 per cent received housing assistance, up from 58 per cent in the 2019-2020 survey.
Non-Irish citizens made up a significant proportion of all private tenants surveyed, at 40 per cent, up 2 per cent from the previous survey. The majority of tenants (78%) have jobs.
Thirty-three per cent live with a spouse or partner and children, and 29 per cent share a house with others.
Older tenants aged 45 and over make up 17% of all tenants surveyed and are more likely to live alone and receive rental assistance.
When asked about their expectations, nearly half (49%) of tenants said they would like to own their home within 10 years, but the vast majority believe they are still renting within 12 months.
The main concerns expressed by tenants were the lack of rental properties** and choice, the instability of lease periods, affordability and the cost of living crisis.
Many people believe they can't find a home with a similar rent in the market, so they choose to stay where they are, the report said.
The age structure of small hosts tends to age, with 79% over the age of 45, compared to 68% in 2021.
The survey found that people have had mixed reactions to rental stress zones as a measure to tackle rental inflation, while there were also disagreements on the impact of recent regulations.
The researchers also interviewed a number of former small landlords and found that the main reasons for their ** properties include:
Don't want to be a landlord anymore (55% in 2020 and 60% in 2022);
Rental income is taxed too high (6% in 2020 and 51% in 2022);
Being a landlord doesn't make money (28% in 2020 and 49% in 2022);
and the regulatory environment for landlords (4% in 2020 and 32% in 2022).
There is currently a slight increase in the likelihood of small landlord** properties, with 27% of properties likely or very likely to be within the next five years**.
Compared to 2020, medium-sized landlords have a higher propensity to property in the short to medium term.
Twenty-six percent of respondents said they could do so within 12 months** and 29% within 2 years**.