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Half of Ireland’s tenants spend more than 30% of pay on rent

Half of Ireland’s tenants spend more than 30% of their take-home pay on rent while 12% spend more than half of their income, according to new research by Residential Tenancies Board (RTB).

Tenants outlined multiple reasons for renting including easy access to work and school and because they were unsure where they wanted to live in the long term.

However, one in five said they were renting because they could not get a mortgage, with 15% saying they were renting while saving a deposit for their own home.

While most small landlords appear set to remain in the market for the foreseeable future, their contribution will decline as the market changes with 26% planning to sell a rental property in the next five years.

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