1778 landlords gone from sector
8829 homes no longer available to tenants
Existing tenancies pay 21% less than new tenancies
Continual interference in the private rental sector has resulted in less accommodation for rent, contributing to homelessness. Rent Pressure Zones limited the income of investors without limiting the cost of the provision of the accommodation. Property owners who rewarded good tenants by keeping the rent low, have been unfairly and substantially disadvantaged. The Residential Tenancies (Amendment) Bill intents to bring in penalties and possible criminal convictions for landlords who breach legislation but does not address the substantially low rent situation. Fair play is required for both landlords and tenants.
Stephen Faughnan, Chairman stated “Increased supply of accommodation is the only solution to the housing crisis, rent control reduces the supply of available accommodation, the evidence is clear; 1778 landlords have left the sector and nearly 9000 rental homes are no longer available. Value the service provided by Landlords, allow all legitimate expenses in the year they accrue, and simplify the legislation around the sector. Investors need confidence and stability”