Residential Premises Rental Income Relief (RPRIR)

The Residential Premises Rental Income Relief (RPRIR) was introduced in Budget 2024 to support the Irish rental market by incentivising landlords to retain properties for long-term letting. This article outlines the key features of the relief, eligibility requirements, and how landlords can benefit.

What is RPRIR?

RPRIR is a tax credit available to landlords who rent out qualifying residential properties. The relief is available from 2024 to 2027 and is designed to encourage continued participation in the rental market. The credit is valued at up to a maximum of €600 in 2024 and is set to increase in subsequent years.

Who Can Claim the Relief?

RPRIR is available to all individual landlords of ‘qualifying premises’. The relief is not available to companies or other entities such as trusts or partnerships.

Qualifying Premises:

A qualifying premises refers to a residential property owned by the landlord on 31 December in the year of assessment. The property must meet one of the following conditions:

1. It is occupied by a tenant:

under a tenancy registered with the Residential Tenancies Board,
let by the landlord to a public authority, or
subject to Part II of the Housing (Private Rented Dwellings) Act 1982, which pertains to formerly rent-controlled tenancies;

2. Alternatively, if the premises is not occupied by a tenant, the landlord must be actively marketing the property for rent.

In cases where RPRIR is claimed based on active marketing for rent, the landlord must provide evidence to support this claim, such as copies of advertisements for the letting.

Other Eligibility Criteria:

To qualify for RPRIR, a landlord must, on 31 December of that year, be: