Residential Tenancies Board Annual Registration now Required
The Residential Tenancies Board (RTB) have recently introduced a new fee structure. From now on, charges will be levied on an annual basis. In addition, any late fees will increase on a month-by-month basis; and there does not appear to be any limit on these additional late fees.
Those who remember the old NPPR charge may recall that late payments also accumulated very significantly; and that this ended up as a serious issue for non-compliant individuals.
Under this new regime, landlords must register all of their tenancies every year, and within one month of the anniversary of when that tenancy began.
The new rules take effect from 4th April 2022, however, there is a four-month transition period when no late fees will be charged. The transition period ends on 3rd August 2022.
The link to the new scale charges is here: https://www.rtb.ie/annual-registration
It is a legal requirement for landlords to register their tenancies. In addition, from a tax perspective, mortgage interest relief is denied unless all tenancies are registered with the RTB.
If you have any queries, whatsoever, please call your usual PSC contact.