Welcome to the personal website of 
Dr. Brendan K O'Rourke

Click here to edit subtitle


Regulated Rent Reduction needed

Posted by Brendan O'Rourke on March 26, 2020 at 3:35 PM

How about a price ceiling on rents at 20% less than 9th March 2020

It is good to see the government put a freeze on rent and evictions, but I think more needs to be done. Given the shock to the economy and incomes, current rents are no longer related to market conditions. The market would probably show this itself if it ‘was let rip’ with people relocating to cheaper locations now that the reasons for living in expensive locations (i.e. their wages) have disappeared. Thankfully, the state’s massive intervention such market ‘adjustment’, and the pain for all that would involve, impossible. Yet property income should share some of the cost of this, for rents levels are being kept up by the public purse and state restrictions. The state needs to complement its action by imposing a reduction in rent for residential accommodation in the order of say, 20%. Market forces should lower rents for those properties coming on the market. State funds, either paid directly in rent or through subsidizing replacement income should not be wasted on keeping rents inflated.

This is not meant as an attack on landlords and may indeed help them in several ways. One way is that such a rent reduction would be useful in renegotiating terms with any lenders. Another is that it makes tenants less likely to simply walk away from tenancies leaving the landlord with no rent and no tenant. Even if such tentants formally vacate the premises, the revenue from new lettings may well be much lower than 80% of the March 9th rent, and the hassle of renegotiating greater than normal.  Indeed, given some ancedotes of some private arrangements may be the mandated reduction should be greater and it should certainly not be seen as a maximum rent reduction.

Large companies and anchor tenants have probably already negotiated rent reductions or rent holidays for themselves, and other progressive landlords have likely acted already with a sense of enlightened self-interest and/or social responsibility. The state needs to mandate a rent reduction if tenants without bargainning power or progressive landlords are not to suffer in comparison to others. In terms of economic recovery this is vital particular for smaller Irish enterprises. 

If needed there could be  sunset clause, of say June 2021 or end of December 2021, in any such legislation so that this form of rent control does not get confused with the more long-term changes that are needed made in Ireland's property market. 


Categories: None

Post a Comment


Oops, you forgot something.


The words you entered did not match the given text. Please try again.

Already a member? Sign In


Reply DavidMon
7:46 AM on May 5, 2020 
Reply Haroldbem
3:15 PM on May 24, 2020 
ĺ¤â??Ä?±â?¡ usgfx ĺ¤â??Ä?±â?¡Ä?¬§ĺâ?¦Â? Ä?â?°â?¹Ä?Å?Å? Ä?Å â?¢Ä?µâ??ç­â??çâ?¢Ä? Ä?â?¹Â±Ä?Ż­ ĺ¤â??Ä?±â?¡Ä?¬§ĺâ?¦Â? Ä?¬§ĺâ?¦Â? rmb Ä?±â?¡Ã§Å½â?¡ 现Ä?´§ 原Ä?Ë?Ä? ĺ¤â??Ä?±â?¡Ä?¬§ĺâ?¦Â? 美ĺâ?¦Â? Ä?Å?â?¡Ä?â?¢Â° Ä?â??°Ä?µÅ?
Reply Haroldbem
12:37 PM on June 21, 2020 
piata teapa iForex strategii cont iForex opinie iForex romÄ?Ë?nia
Reply Rockysog
3:20 PM on April 26, 2021 
???????? ???????? ??????
Reply Charlesobeds
7:25 AM on July 26, 2022 
BTC may be the latest or last chance to get rich in this era. It will reach $200000 next year or the next year.

BTC has increased 20 times in the last year, and other coins have increased 800 times!!!

Think about only $2 a few years ago. Come to the world's largest and safest virtual currency exchange Binance to Get free rewards. Don't miss the most important opportunity in life!!!

Reply orepret
4:23 PM on July 28, 2022 
Propecia Daily Dose cialis for sale online
Reply Flisync
1:20 PM on August 17, 2022 
Viagra Generico Citrato De Sildenafila ivermectin purchase online
Reply rexubre
4:11 PM on August 31, 2022 
cialis dosage Leaks often intermittent
Reply Poopaytor
1:09 AM on September 2, 2022 
by Rich Rule - Directing cialis coupon Un generico ?? considerato sicuro ed efficace come il farmaco originale
Reply Alabili
7:52 AM on September 4, 2022 
At Innerbody Research, we customize our evaluation criteria depending on the type and nature of the health-related service or product priligy walgreens Scores range from 0 to 30 based on 15 questions
Reply lolibuice
6:08 PM on September 4, 2022 
2006; 3 Suppl 4 318 23 buy cialis online using paypal Slightly reduced blood pressure
Reply Spoigma
6:49 AM on September 6, 2022 
Heard that some guys take it together with daily protein supplements which provide with more muscle pump buy real cialis online
Reply taitype
8:32 PM on September 6, 2022 
Join 358,008 of our customers, experiment and enjoy your new sexual life buy cialis online usa Store at 25 C 77 F ; excursions permitted to 15-30 C 59-86 F see USP Controlled Room Temperature
Reply hygielm
3:44 PM on September 8, 2022 
buy cialis 20mg When pharmaceutical companies first develop a new drug for patients, it s offered under a brand name
Reply FoewAtono
6:09 PM on September 9, 2022 
clomid buy india Andriole GL, Bostwick DG, Brawley OW, et al.
Reply Shonnem
8:09 PM on September 12, 2022 
nolvadex vs arimidex bodybuilding Common Prozac and Clomid interactions.
Reply fruiple
11:03 AM on September 16, 2022 
See 2106 substitutes for Doxyval 20. buy cheap doxycycline
Reply tratmense
11:11 PM on September 17, 2022 
doxycycline hyclate for tooth infection A higher gauge lancet is thinner so is normally less painful, however it may not all the time offer you enough blood Test strips usually are out there in batches of fifty and must work with the sort of meter you ve chosen Glucose is a simple sugar and is among the main molecules which serve as power sources for both crops and animals 3 Trusted Source How Cells Obtain Energy from Food Go to source By the greatest way, these tips are for non pregnant adults with type 1 or sort 2 diabetes.
Reply arrarceta
12:52 AM on October 9, 2022 
1992 had CLOVE syndrome can you take bumex and lasix together In spermatogonial arrest, cells were MAGEA4 positive and therefore identified as spermatogonia
Reply Uploaro
1:22 PM on October 12, 2022 
generic 5mg cialis best price Perlman stated that in his best case scenario, the reduction was estimated at 30