Tallaght Resized

a LOCaL auctioneer has been appointed Chairman of national estate agency group real estate alliance. anthony McGee is Managing Director of reaMcGee in tallaght and was elected to the position during the alliance’s aGM in Castleknock last week. rea is Ireland’s leading property group of Chartered Surveyors with over 55 branches nationwide, comprising many of the country’s longest-established auctioneers and estate agents. the aGM heard that the State needs to urgently incentivise small investors to stem the tide of private landlords leaving the rental market. real estate alliance (rea) members are reporting that small private landlords are exiting the market due to a combination of excessive taxation and the legislation involved in renting a house, which they find it difficult to deal with. the association’s aGM heard that rent Pressure Zones are not working, with rents continuing to rise and available stock spiralling downwards. “there are new small private investors coming into the market, and society needs this sector to provide rental accommodation,” said Mr McGee. “when you add up taxation and stealth taxes, agency fees, management fees and insurance, there is no incentive for private landlords to remain in the market. “what we are seeing are brow- beaten landlords who are exiting the market when they reach a point of equity parity in a property. “the regulations are heavily biased in favour of institutional investors, which is why you see build-to-rents happening at the moment. “there may be a feeling that with rents at an all-time high, that small investors are making money, but when they do the numbers and look at the taxation they are paying, many are deciding that it is not worth their while staying involved. “It is doubtful whether the rent Pressure Zones are actually working because we are seeing rents climbing far in excess of 4 per cent per annum due to a severe shortage of rental properties. “we are seeing instances where adjoining properties are renting for vastly different sums, and in our experience, some landlords are now finding it difficult to pay their mortgages. “It is economically unfair that investors whose property becomes vacant cannot charge more than a 4 per cent increase on the previous rent – even if it was set to an historically low level. “the market is not functioning normally because tenants are renting places for a lot longer than they originally planned for due to the difficulties in raising the deposit for a property. “as tenants struggle to pay the rent, wages are forced up and this is eroding the competitiveness of the economy – with many workers now leaving Ireland for other countries as they are finding it too expensive to live here. “we need to take a new look at the rental problem – incentivise landlords and bring in measures to get people out of rental properties and into mortgages. “Banks should be able to take into account that someone who has been paying €2,000 a month for the past ten years should qualify for a mortgage.” the finalists in the SFa National Small Business awards 2020 was officially announced by Sue O’Neill, SFa Chair and Chair of the SFaawards Judging Panel. the aim of the awards is to celebrate the achievements of small business in Ireland, and to recognise the vital contribution of the small business sector to Irish industry. among the local companies in the running are Green angel in the Manufacturing category. “the response to the awards programme serves as a reminder that Irish small companies are resilient, putting their best foot forward and seeking recognition for their efforts,” commented Sue O’Neill. “as well as our eight award categories, we also feature five of the best emerging New Businesses (less than two years established) and, given the quality of the businesses represented this year, entrepreneurship is alive and well in Ireland. “the SFa National Small Business awards are now entering their 16th year and are a celebration of small business owners who in the past five years created over 75,000 jobs. the 267,000 small firms in Ireland employ half of the private sector workforce and these awards aim to promote excellence, achievement and innovation amongst these companies in all sectors and parts of the country. the companies that have been announced as finalists this year represent all that is good about small business,” said O’Neill. an taoiseach Leo Varadkar, tD, who is Patron of the awards, stated that: “Small and medium businesses make a huge contribution to the Irish economy and the SFa awards are a fabulous and timely opportunity to recognise the talent and innovation in the Irish SMe sector.” Forty-one companies have been selected as finalists, from 12 different counties, across 9 categories. E business recruitment,motoring & property November 28, 2019 tel: 01 4685350 email: business@echo.ie p roperty@echo.ie motoring@echo.ie aGM heard rent Pressure Zones are not working, with rents still rising Local auctionee r elected chairman of REAgroup APPOINTED: Anthony McGee Small Business awards finalists announced By William O’Connor william@echo.ie A celebration of small business owners who in the past five years [have] created over 75,000 jobs ‘ ‘ rathCOOLe Community Council CLG has lodged an application for a prefab building at the side of their existing premises. Based on Main Street in rathcoole, the plans include a single-storey prefabricated buildings (floor area 870 sqm) to the side/rear of existing Community Centre for community/recreational use. rathcoole CC plans for prefab StewartS Care Limited has lodged an application with South Dublin County Council for the change of use from existing office use to Day Care Centre. Located on Old Lucan road/Kennelsfort road Lower, Palmerstown, the plans lodged change of use from existing office use to Day Care Centre to be used for education/recreational use for service users in Stewarts Care Limited to include enclosing existing porch area. Plans lodged for Day Care Centre