Irish Institutional Property (IIP), which represents institutionally financed investors and real estate providers in the Irish real estate market continue to support residential tenants in line with a range of commitments announced in March of this year. These temporary and emergency measures are intended to support the Government’s efforts, and particularly our members’ residential rental customers, during the ongoing COVID-19 crisis and are in place and under constant review by our members as necessary.
The following measures are being implemented by IIP members:
· Notice to leave by IIP member landlords are temporarily suspended for impacted tenants experiencing short term financial stress as a result of the COVID-19 crisis
· IIP landlords have a number of protocols to support impacted tenants experiencing short term financial stress. These include deferrals of rent payments, payment plans, etc.
· IIP landlords continue to suspend any pending rent increases during the acute phase of the COVID-19
· IIP landlords continue to encourage tenants who are significantly impacted as a result of this crisis situation to make contact with them as soon as possible. IIP landlords have put in place telephone and online contact support for impacted tenants to communicate details of the assistance available from Government and the sector.
· If tenants who are currently in the process of moving wish to suspend their plans, IIP landlords will support them with continuing accommodation provision
· IIP members continue to work to support the supply of the ‘self-isolation’ accommodation needs of government.
IIP landlords are continuing to communicate with their residential tenants, highlighting the advice from Government and the HSE on COVID-19 and advising tenants to follow the guidelines. IIP landlords are also continuing their increased disinfecting and cleaning of apartment blocks.
In addition to these temporary and emergency measures IIP members continue to ensure provision of ongoing essential maintenance services to their residential tenants.
Speaking about the ongoing measures being implemented by the institutional property sector, Pat Farrell, Chief Executive, IIP, said “Our member companies are committed to supporting the Government’s efforts during this unprecedented crisis. We are very much aware that some tenants will experience financial difficulties and we want to reassure them that our members stand ready to offer practical support to impacted residential tenants during this difficult time.”