Friday 2 December 2016

We need new type of landlord who will offer tenants certainty to ease the housing crisis

Kieron Brennan

Published 16/12/2015 | 02:30

These more professional, longer-term institutional landlords will be large companies or trusts who are in the business for a continuing income stream and not in the hope of speculative capital gain
These more professional, longer-term institutional landlords will be large companies or trusts who are in the business for a continuing income stream and not in the hope of speculative capital gain

Every day, two more families become homeless. Every month, a thousand landlords leave the private rental sector. These two facts are obviously connected. But the haemorrhaging of landlords from the sector is having an impact across the whole of the market.

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Last week, the Private Residential Tenancies Board (PRTB) confirmed what many tenants felt - that rents had increased by an average of 8pc in the last year, with higher increases in Dublin. This chimes with the findings of recent research by Co-operative Housing Ireland.

The Housing Sentiment Survey uncovers some of the underlying problems in housing - particularly the private rental market. The nationally representative survey (more than 1,000 respondents) showed a dramatic reduction in the number of people reporting that they lived in private rental. This fits with PRTB reports that it had a decrease of 55,000 tenancy registrations between 2012 and 2014. Landlords are selling up and no new supply is coming in to take their place. Overall, it appears that the number of houses available for private renting is shrinking at an alarming rate.

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