Oireachtas Joint and Select Committees

Thursday, 7 December 2023

Joint Oireachtas Committee on Housing, Planning and Local Government

General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed)

Photo of Eoin Ó BroinEoin Ó Broin (Dublin Mid West, Sinn Fein) | Oireachtas source

Yes. Again, I am not making a case for or against, I just want to be clear.

I want to mention a couple of things on the Tyrrelstown amendment. First of all, the value of the properties are determined by the rental yield, if they are investment properties. The rental yield is determined by whether they are inside a rent pressure zone, RPZ, or not. If those properties are inside RPZs, then vacant possession does not really make an awful lot of difference if the RPZ rules are going to be applied. In that sense, selling with the tenant in situis a very marginal difference.

It could be the case that a large institutional investor owns a portion of a development – 10%, 20%, 30% or 40% – and individual owners own the remainder. We have such developments all over the city. Some of the remainder are owner-occupied, some are small institutional or investment landlords. If I was a single-property investment landlord or had fewer than ten properties and I was selling, I would be obligated to sell in accordance with this scheme, but someone who owned ten properties or more would not be obligated. Am I correct in that?

Comments

No comments

Log in or join to post a public comment.