A regulated rental market as a way out ?

peasant

Now, with an over-supply of housing and prices racing to the bottom, might be a good time to introduce some form of regulation into the rental market.

Traditionally in Ireland everybody wants to own their own house, rental is seen as waiting to buy, dead money. Rent is determined by the mortgage of the property owner (plus profit), tennant rights are virtually unknown.

All in all ...renting is not really a long term option.

This could change.

Establish (and publish!) sample rental rates for all areas, so many euro per sqare foot, depending on area and standard of the property. A good area is more expensive, same goes for good building standards. Landlords can deviate from the average ...but only as much as the market will bare.

Introduce better tennancy laws with minimum notice periods, lengthening with the duration of the occupation ...ie. they can't just kick you out after you lived there for several years.
Establish what the general duties of tennants and landlords are ..who takes care of what and what are the consequences if they don't.

In short ...make renting a real alternative to owning your own gaff.

This could benefit not only tennants, but landlords too. With security in the market, you know where you stand. Your property becomes a viable business proposition again (albeit less of a speculation object ).

The casino element is removed from the property market to a large degree. Cheap, secure housing can be provided while offering a modest profit for the landlord.
Transparancy prevents speculation and abuse.

People may actually be able to afford living (close to) where they want to. Our empty houses needn't all go to waste.

lmimmfn

well just to throw something into the mix here, in Denmark you have to furnish all properties that you rent, you must also repaint everything and get in a professional cleaner when you leave, it completely prevents short term lettings as the paint job and cleaning works out at 2k+ ( nuts but just a different solution to encourage long term letting )

peasant

The same in Germany ...but who would want to rent the landlords discarded ould sofa for years on end anyway? Or the cheapo three in one stacking table from the last Dunnes voucher?
Long term renters want to furnish to their own taste.

Short term, fully furnished rental could still be available ...just under slightly different conditions.

Soldie

I don't think there's any reasonable argument for why the government should get involved in this. The property market is already correcting itself - rental prices are plummeting at the moment, making it more and more affordable. The government has its fingers in enough pies already.

ei.sdraob

and who will regulate it? a new quango??

starbelgrade

peasant wrote: »

Introduce better tennancy laws with minimum notice periods, lengthening with the duration of the occupation ...ie. they can't just kick you out after you lived there for several years.
Establish what the general duties of tennants and landlords are ..who takes care of what and what are the consequences if they don't.

.

Tenancy laws have, for a long time, stipulated the duites of both the landlord & the tenant(s), and the responsibilities of both parties. Minimum notice periods have also existed for some time & they do already increase with the duration of occupation. A landlord cannot kick you out without giving the correct notice period & must give you the notice in writing in the correct form.

This year, revised Minimum Standards of Rented Accommodation came into effect which greatly increase the existing required standards that landlords have to afford to their tenants.

A PDF version can be found here.. http://www.environ.ie/en/DevelopmentandHousing/Housing/PrivateRentedHousing/PublicationsDocuments/FileDownLoad,19428,en.pdf

I heard some part of a radio report on the introduction of a new enforcement agency, but didn't get all the details.

pat kenny

peasant wrote: »

Introduce better tennancy laws with minimum notice periods, lengthening with the duration of the occupation ...ie. they can't just kick you out after you lived there for several years.
Establish what the general duties of tennants and landlords are ..who takes care of what and what are the consequences if they don't.

I believe all the things you mention in this paragraph are already law in Ireland. Their enforcement is questionable though.

I don't see the need for rent price regulation at the minute. The current market seem to be correcting both of the problems you highlight. Small houses and apartments of low quality are droping in rent, and the worst just are not being rent at all, as renters seem no longer willing to accept the ****holes they did during the boom.


I am the perfect example, I was renting in a dump in ballsbridge, place was really falling apart, landlord lived abroad, letting agent was the only contact. We moved out about 6 months ago , took ages for them to cough up the deposits. When they did pay up, "4 months later!!", we asked them if they had rented the place to anybody else.
The answer was "no".

starbelgrade

pat kenny wrote: »

I believe all the things you mention in this paragraph are already law in Ireland. Their enforcement is questionable though.

The enforcement of the laws (before the revised standards) was done by Threshold. The onus however, was on the tenants to contact them & they had long waiting times to deal with any complaints, though from personal experience, they did a sterling job.

Regarding the radio report I heard, I found this on the net.. http://www.environ.ie/en/DevelopmentandHousing/Housing/PrivateRentedHousing/News/MainBody,21720,en.htm

Basically, as of this month, the local housing authorities have been given the power to enforce the new standards.