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Call for rent freeze inventives
01 Sep 2015 11:11
A homelessness charity has called for the introduction of tax breaks for landlords in return for rent freezes for tenants.
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The Peter McVerry Trust is backing an initiative proposed by financial advisor Karl Deeter, which suggests that landlords be permitted to write off the Local Property Tax against Revenue obligations, if they agree to introduce rent freezes for their tenants.
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The suggestion would encourage landlords to introduce rent freezes for at least two years, by offering them tax incentives.
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It is proposed that landlords who provide rent certainty for new or existing tenants could then offset their local property tax against revenue obligations.
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In addition, it is suggested, the amount of mortgage relief that is allowed as an expense should be increased from 75% to 100%.
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Those behind the idea say it does not amount to rent control, because the scheme would be optional.
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