Oireachtas Joint and Select Committees

Tuesday, 5 December 2023

Joint Oireachtas Committee on Housing, Planning and Local Government

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

Mr. Patrick Davitt:

No, you would go to look at a property and see. If the rent is not market rent then you are probably looking at another investor. If it is market rent, then you are probably looking at the open market value of the property, so it depends on how the rent is prescribed as you look at the property. Taking all this into consideration, if the rent is the proper rent for that particular apartment and it is not under-rented, then in that case whether the property is vacant or not you are going to get market price for it. If the rent is lower you would have to look at it and advise the landlord that the property is earning so much and on the basis of that yield they are only going to get X amount, whereas if they have vacant possession they will get X amount.