The Irish Property Owners’ Association (IPOA) is urging the government to scrap rent pressure zones by the year’s end. These zones, which cap rent increases at 2%, are set for review. IPOA argues that regulations like these, along with indefinite tenancies, are prompting landlords to sell their properties.
In their recently published election manifesto, IPOA is rallying election candidates to advocate for reducing legislative burdens on the rental sector. CEO of the Institute of Professional Auctioneers and Valuers, Pat Davitt, highlights the impact of rent pressure zones. He claims that fewer landlords are listing properties due to restrictions, leading to a scarcity of available rentals.
Rory Hearne, a Social Democrats’ candidate and lecturer in Social Policy at Maynooth University, offers an alternative perspective. He suggests that struggling landlords should be supported in exiting the market, with the state potentially purchasing their properties for social or affordable housing.
The debate underscores the tension between landlord interests and tenant protections, with stakeholders seeking a balance between market dynamics and housing stability.