The Department of Housing, Local Government and Heritage has this week published a report reviewing the private rented sector in Ireland. This report arises from the Housing for All Action Plan Update, published in November 2022, which included a commitment to “review the operation of the private rental sector and report on policy considerations”.
The review is published by the Department of Housing, Local Government and Heritage. As part of the review process the Government “invited households, other market participants and commentators to provide their perspectives and describe their experiences of market renting”. It also takes into account information relating to stakeholder sentiment gathered through research undertaken on behalf of the RTB and “the experiences of public institutions in their respective roles interacting with the private rental market”.
It covers the following key themes:
- Composition of the Rental Market: Providing data and analysis on the size and composition of the sector, as well as on rental levels of and the impact of the COVID-19 pandemic and the RPZ legislation on rents.
- Sectoral Policy Objectives: Outlining the main policy objectives for the sector, which include creating economic conditions to support investment in the sector, increasing supply and affordability, enhancing security of tenure, and ensuring appropriate standards and regulation.
- Potential Avenues for Policy Change: Suggesting some potential avenues for policy change, such as incentivising investment in the rental sector, supporting affordability through increased supply of cost rental homes, reviewing rental regulation, undertaking a periodic critical review of the RTB, and ensuring appropriate rental standards.
For more information please contact Aoife Smyth, Knowledge Consultant, or your usual ALG Real Estate contact.