The continuing exodus of small landlords from the rental market as reported by the Residential Tenancies Board (RTB) is an entirely predictable consequence of Government policy in this area – most recently the introduction of six-year tenancies from next March. Research from the ESRI shows that while rents remain high the rate of increase is moderating. Even allowing for such mitigating factors the fact remains that the housing shortage could last another 15 years, according to the Department of Finance, and a functioning rental market requires landlords. The Minister should not lose sight of the fact that small landlords are and will remain an important cog in the machine of a functioning property market. The chronic housing shortage means there is no shortage of buyers when they sell out, but their departure has consequences for a deeply dysfunctional rental market.
