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Rent Supplement / Allowance Changes

  • 05-01-2012 11:09pm
    #1
    CptSternn
    Registered Users, Registered Users 2 Posts: 1,530 ✭✭✭


    Anyone else notice they dropped the rent supplements and allowance as of January 1st?

    http://www.welfare.ie/EN/Schemes/SupplementaryWelfareAllowance/Pages/RentSupplement.aspx

    A family with 1 child was getting €560 a month in Clare. Now it's €450.

    This will definitely drop rental prices across the county. The real issue I think though will be for property owners with rental property. They will have to lower their rents, and at the same time will be hit with property taxes, that they will be rolling out to replace the new household tax.

    If/when that happens homeowners are looking at paying 5%-10% of their homes value in tax every year. If you do the math it doesn't look good for people with second homes, even worse if they are underwater.

    The average home owner is looking at another €1000-€2500 a year in tax on their home AND their rental. Even if you just look at the math for the rental and low ball it at €1000 it means two and a half months of rent will now be going directly to the government each year.

    Any thoughts?


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