The Government have finally passed the legislation to exempt Rental Income from assessments under the Fair Deal. This has come into effect from the 1st of February 2024. It means that any resident who rents their home while under the fair deal will not have to contribute any of the rent towards their cost of care.
This change is a result of the Government striking a deal with the Independent TD ‘s for this exemption in return for their support in the vote to remove the eviction ban last year. The change like any changes to the Fair Deal that benefits the resident, while welcome comes with caution. At the time the Minister for older persons Mary Butler was quite vocal about the change, citing her concerns that the change could result in Elder Abuse, whereby older persons may be forced into Nursing Homes, before they need to, so that their family can benefit from the rent.
I co wrote an article in the Irish Independent which you can see on our blog which outlined why renting out the home under the Fair Deal even with rent being an exempt income was not necessarily a good idea. My concerns stand and in summary remain as follows.
When my article appeared on the front page of the Independent last May I received significant positive feedback to the article and on Radio Shows in which I was a guest after it. Many of my new clients in the months that followed brought the article up and stated how right I was in everything I had said based on in some cases what many of them had experienced as accidental landlords. Why would anyone take on the additional stress of being a landlord when one has a loved one in care and all the other stresses of life.?
I recommend for further information that you read our blog at www.fairdealadvice.ie or contact Tom Murray @ 086 601 5042 or email advice@fairdealadvice.ie
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Tom Murray
Managing Director
Fairdealadvice.ie
Tom was recently featured on Trina Mara Podcast, Ireland’s Classic Hits Radio. In a discussion with radio presenter and producer Trina Mara, Tom shared insights on Fair Deal Advice for Nursing Home ...
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