Landlords face compulsory ‘rent certainty’ deals

Wexford Rentals & Property Management have read that the Government plans to make landlords sign up to three year “rent certainty” deals, linked to inflation to prevent unreasonable price hikes for tenants, could be signed into law as early as next month.
Wexford Rentals & Property Management understands that senior officials confirmed the move will be included as an amendment to the Residential Tenancies Bill once it is given the legal green light in the coming weeks. After the Labour Annual Conference in March, Environment Minister Alan Kelly announced controversial, still unpublished plans to force landlords to sign up to compulsory “framework” agreements for three years to give “rent certainty” to tenants. The move — which would also see rent prices tied to inflation to ensure rates cannot rise unless there is a genuine wider economic reason, or real investment is made to a property — was welcomed as badly needed to solve a burgeoning rental bubble crisis which is forcing growing numbers into homelessness. After landlord groups claimed the move would cause a mass retraction of properties from the rental market and breach their constitutional rights as it involved a rent “control”, it appeared the plan could be sidelined. However, senior Department of Environment officials told the Irish Examiner last night the proposals are at an “advanced stage” and the Attorney General has yet to raise any legal concerns. Barring a major U-turn, the plan will be formally put to Cabinet later this month before being included as an amendment to the Residential Tenancies Bill.

Fiachra Ó Cionnaith, Irish Examiner Reporter