Terence Flanagan (Dublin North East, Independent)
Link to this: Individually | In context | Oireachtas source

51. To ask the Minister for Finance if consideration has been given to tax breaks for landlords to encourage them to accept rent allowance tenants; and if he will make a statement on the matter. [16866/15]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am aware that the Department of the Environment and the PRTB have been examining the issue of the private rental market and looking at possible reforms for this sector. In 2014, the Private Residential Tenancies Board (PRTB) commissioned two research reports to explore the policy options required to ensure a sustainable private rented sector into the future. The main report, entitled 'Future of the Private Rented Sector',examines the economic, policy and taxation treatment of the rented sector.

The second report, entitled 'Rent Stability in the Private Rented Sector', looks at policy options to address the difficulties being experienced in segments of the private rented sector. This report includes an examination of rent regulation regimes in other countries and puts forward a series of policy options in relation to rent stability for consideration, such as:

- Increasing awareness among landlords and tenants of the PRTB and their rights and obligations under the Residential Tenancies Act 2004; 

- Introducing tax incentives in relation to Housing Assistance Payment (HAP) and Rent Supplement tenancies;

- Introducing a rent certainty lease.

The Government is monitoring the rental market closely and the overriding objective in relation to rents is to achieve stability and sustainability in the market for the benefit of tenants, landlords and society as a whole. Housing policy is a matter for the Department of Environment, and my officials have been in contact with officials in that department and they are keeping the tax policy aspects under review. Any such tax proposals would be considered by the Government as part of the annual Budget and Finance Bill process.