Ottoline Spearman A new study by the Residential Tenancies Board (RTB) has found that 5,405 rental tenancies were terminated in the third quarter of 2025. This is an increase of 35 per cent annually and 14.3 per cent from Q2 2025. 61 per cent (3,307) notices were issued as the landlord intends to sell the property; 17.5 per cent because a family member was moving in, and 11.5 per cent due to a breach of tenant’s obligations. The Institute of Professional Auctioneers & Valuers (IPAV) said this substantial increase proves that small private landlords are rushing to the exit gates before new rules take effect from March next. Genevieve McGuirk, IPAV’s Chief Executive, said this correlates with what agents are reporting from throughout the country, and that there is a marked difference between small landlords and those of scale. “Between Q4 2024 and Q3 2025, there has been a drop of 1,820 landlords from the market, with a sizeable portion of these, 1,381, being landlords with just one tenancy. “This does not augur well for the supply of rental properties outside of the large urban centres where smaller landlords predominate. Institutional landlords tend to operate in the large urban centres, often providing more expensive accommodation.” She said it will place a greater burden of responsibility on the State.

'Onerous burden'

Ms McGuirk said state policy, through taxation and regulation, has placed an onerous burden on smaller landlords who pay about 52 per cent tax on rental income. Institutional landlords enjoy a far more favourable regime. “Smaller landlords have been exiting but it looks like the changes due to take effect from March 2026 will amount to the straw that broke the camel’s back. This is worrying,” she said. She said Ireland is acknowledged to have one of the most restrictive rent control systems in the world. Rosemary Steen, Director of the RTB said: “We are concerned about trends in the data on Notices of Termination and landlord numbers for Q3 2025. However, it is important that we take a measured view. "We know there are always landlords entering and leaving the rental market. At least 2,000 landlords end a tenancy with the intention to sell in every quarter, but this does not usually lead to a fall in registered tenancies. "We have seen big changes in who is providing those tenancies in recent years, though. The proportion of tenancies provided by large landlords with 100+ tenancies has now increased for nine consecutive quarters to 14.2 per cent today.” For the latest Waterford News and Sport,tune into WLR News on the hour and download the WLR App for news on demand