Is there any reason a similar 'tenant purchase scheme' cannot be created for Ireland's half million private renters whose 'dead-money' rents are supporting the whole negative equity banking black hole?
Create a scheme allowing (or demanding where neccessary) buy to let landlords in deep unresolveable negative equity debt to walk away from those residential properties as 'free and soluble agents'.
Then give the tenants the option to buy them as their own homes at prices written down to reality, with the rents they have already paid towards their landlord's negative equity mortgage taken into account.
Those new home-owners will take pride in their homes, spend money on refurbishing them, and put some activity back into the economy-instead of draining the life-blood out of it.
This will in turn take many of those people off your National Social Housing waiting list. It will remove many thousands more from the private rental search lists - giving those who still have to rent a better, cheaper choice of properties.
It will even give some of those new homeowners the chance to avail of The Government's rent-a-room scheme where they can take in students, thereby alleviating more pressure on private rental accommodation which students face every year.
This is not rocket science, it is basic common sense!
Regards,
Paul Newsome.
Paul Newsome
Posted on 18 Jan 2014 2:30 pm
Dear Minister O Sullivan,
Is there any reason a similar 'tenant purchase scheme' cannot be created for Ireland's half million private renters whose 'dead-money' rents are supporting the whole negative equity banking black hole?
Create a scheme allowing (or demanding where neccessary) buy to let landlords in deep unresolveable negative equity debt to walk away from those residential properties as 'free and soluble agents'.
Then give the tenants the option to buy them as their own homes at prices written down to reality, with the rents they have already paid towards their landlord's negative equity mortgage taken into account.
Those new home-owners will take pride in their homes, spend money on refurbishing them, and put some activity back into the economy-instead of draining the life-blood out of it.
This will in turn take many of those people off your National Social Housing waiting list. It will remove many thousands more from the private rental search lists - giving those who still have to rent a better, cheaper choice of properties.
It will even give some of those new homeowners the chance to avail of The Government's rent-a-room scheme where they can take in students, thereby alleviating more pressure on private rental accommodation which students face every year.
This is not rocket science, it is basic common sense!
Regards,
Paul Newsome.