THE OLDEST AND youngest tenants are united in paying the higher proportions of their disposable income on rent, according to new research.
Almost half of tenants aged 65+ are spending at least 35 percent of their pay on rent, while a third of under-30s are in the same boat.
Meanwhile 23.4 percent of those between 30 and 44 are spending over 35 percent of their income on rent, as outlined by the Central Statistics Office (CSO).
Landlord profile
The report, developed in collaboration with the Residential Tenancies Board (RTB) and the Department of Housing, Local Government and Heritage, also provides a profile of landlords, and the categories they slot into.
It shows that half the country’s landlords had a net rental rental income of less than €10,000 in 2019 with about three in ten more receiving between €10,000 and €20,000 in rental income. Just over 1 percent received more than €100,000 in rental income.
The finance and real estate sectors accounted for 10.9 percent of landlords in employment, more than double the percentage of 4.9 percent for all those in employment, with a third of landlords with 20 or more tenancies working in the sector.
Almost three-quarters (71 percent) of tenants have employee income as their primary source of income. Social welfare (excluding pensions) is the next highest primary income source for tenants (20.percent).
A significant number of tenants living in Dublin City also spent more than a third of their disposable income on rent in the same year.
The figures show a high proportion of properties with poor energy ratings, which are decided on how effective hot water heating, ventilation and lighting are in a home.
Properties in the rental sector are most likely to have a BER (Building Energy Rating) of C, accounting for approximately 40 percent of properties, with those with an A rating making up 4.8 percent.
The CSO has recorded a jump in those with an A rating – the highest ranking – however these were coming from a low base of 1.1 percent in 2017. This has increased to 4.8 percent in 2021.
“Looking at different tenure types and populations, the proportion of properties with A or B BER ratings is lowest for those in receipt of Housing Assistance Payment (HAP) scheme or Rent Supplement,” the CSO said in its statement.
The proportion of landlords under the age of 45 has also decreased in recent years, from 35 percent in 2017 to just over 24 percent in 2021.
The total floor area of rental properties is lowest in Dublin and particularly its inner city. This is highest in Roscommon, Leitrim and Galway County. The size of rental properties as a percentage of that for all properties is lowest outside of Dublin.
You can find the full CSO release here.
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