Results 4,181-4,200 of 14,943 for speaker:Eoin Ó Broin

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Okay, but that is not my question. I want to clarify this point. Let us say the local authority or the AHB makes a bid and the owner of the property decides he wants a quick sale. We heard from estate agents and landlords that this is common enough. The owner takes the view that if he goes for the local authority bid he might get a few thousand euro more, but he needs a quick sale. He...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Is Mr. Smyth saying that up to day 90, they would have to go back to the local authority or AHB? In fact, at any point in the process, can they sell to a cash buyer?

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: I fully understand that. However, I want to be absolutely clear on this. There is a particular "right" the tenant is getting here that stretches right to the end of the notice period and right up to the 12-month period after they vacate the property from the due date, where if another bid comes in from the private sector the owner has to go back to the tenant. Is that correct?

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Yes, but that does not apply to the AHB or the local authority. They can make a bid for sure, but at any stage in the process landlord could accept a lower bid for a cash sale, for example, or for any other reason. There is nothing to oblige them to accept the higher bid from the local authority or the AHB. Is that correct? I am not saying that is good or bad; I just want to be clear on...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Ms Comer is saying that in the first 90 days-----

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Nobody else can actually make an offer within 90 days.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: I understand, but can they conclude the sale on day 91.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Okay, I understand that. It is not that there is any obligation on them to accept a higher offer from the AHB or the local authority within the 90 days, they just cannot conclude the sale within the 90 days - that has to expire first. However, if they get an offer for a lower price from a cash buyer, they can wait until day 91 and then just sell on to that person. Is that correct?

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Their only problem might be that they might talk to other landlords about the conveyancing process. For example, even after they go sale agreed it can take three months or more at the moment in many local authorities, including my own. They may just make a decision that for the sake of €5,000 or €10,000 of a difference they do not want to go through that hassle. The point has...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: 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...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Forget about build to rent. In some sense, build to rent no longer exists on the planning guidelines. We have a great deal of rental stock that pre-exists build to rent, particularly in this city and less so elsewhere. Build to rent does not capture everything the witnesses are discussing because there are pre-build-to-rent properties. Build to rent only came in in 2018. Many of the...

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Mr. Smyth might call out the page number so that I can read along with him. My apologies.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: That would also apply to a landlord in the block who just owns one property.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: I am just teasing this out. Regarding the provision on one of two or more dwellings within the meaning of subsection (1), would that include a situation where I as a landlord owned a duplex, with a single ground-storey property and a two-storey property above,-----

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Yes. It would be captured by this provision.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: If I owned a single apartment in a building with 20 apartments, though, it would not be captured by this provision.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: How does the Tyrrelstown amendment interact with this, or does it at all?

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: In a sense, the Tyrrelstown amendment would act as a protection for a landlord who wanted to sell the block. The landlord would have to sell it to another landlord with the tenants in situ.

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: Does that mean that, if Senator Cummins and I were co-investors in an apartment block in Waterford and we owned-----

Joint Oireachtas Committee on Housing, Planning and Local Government: General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed) (7 Dec 2023)

Eoin Ó Broin: I do not even own a residential home, let alone have the money to invest.