I-Res Reit flags rent concerns amid Covid-19 downturn

The country’s largest residential landlord has warned of uncertainty over rent collection levels and unforeseen impacts on its performance due to the ongoing Covid-19 crisis.

Irish Residential Properties Reit – or I-Res – said trading levels during the first quarter of the year met its expectations; with occupancy rates in its properties at 99% and net rental income margin at just under 81%. It said rent collection rates were around 98% in April. Furthermore, the company has maintained its dividend policy, paying out a combined €16.2m in relation to its 2019 performance, in March.