Oireachtas Joint and Select Committees

Tuesday, 20 September 2022

Joint Oireachtas Committee on Housing, Planning and Local Government

Private Rental Sector: Discussion

Mr. Patrick Davitt:

The sale of investment properties from landlord to landlord is of course possible. I heard the Senator speaking on this issue on a radio programme this morning. Of course, it is possible. The ideal scenario is for a landlord to be able to sell a tenanted property to another landlord. So long as the rent is at the right price, the seller will get the proper market price for the property. If the rent is not at the right level, however, the seller will not get the proper market price and no investor will pay for it. It is unfortunate but that is the way it is.

I also heard the Senator speaking about long-term rents. Landlords are quite happy with ten-year rents. The Senator was discussing them in the context of commercial rents and residential rents. Those are completely different. If ten-year rents were to come in and the ten-year agreements that apply to------