'Failing rental market' is result of 'government inaction' - IPOA

James Cox

Informal letting arrangements are a result of "government inaction" and a "failing rental market", according to the Irish Property Owners Association (IPOA).

The IPOA was responding to figures released in the CSO Rented from Private Landlords 2022 report which found a discrepancy of 73,002 private tenancies between RTB data and data from Census 2022.

The CSO estimates that 65 per cent (47,754) of these are informal letting agreements.

The significant discrepancy in the figures reported by the RTB and CSO "underscores the persistent inaccuracies in understanding the true composition of Ireland’s private rental sector".

The IPOA said accurate data collection is essential to provide reliable information to the Government, "and the IPOA is urging the Government to seek accurate data to inform future policy decisions".

The IPOA said: "If accurate, the CSO’s estimations illustrate a failing rental market, and highlight the profound impact of government inaction on the private rental sector, as tenants and property owners are forced into insecure living agreements while rental supply continues to dwindle.
"The IPOA does not condone the use of informal rental agreements between tenants and landlords and is urging both parties to adhere to the annual registration of tenancies, given the risks and the lack of security and rights associated with informal tenancies."

The association called on the Government to collaborate with private landlords to implement policies that will "stem the landlord exodus".

Responding to the CSO Report, IPOA chairperson Mary Conway said: “The data reinforces the IPOA’s call for a rebalance of existing legislation to retain genuine landlords in the rental sector and increase supply as the IPOA have consistently said that a failure to do so in a meaningful way will lead to a worsening exodus of private landlords from the market, further constricting supply.

"The IPOA seeks to work collaboratively with the government and the RTB to ensure that all private tenancies operate within legal and formal boundaries, to ensure that properties are safe and fairly managed for both landlords and tenants.

"However, the Government must ensure that future housing objectives recognise the strategic role of private landlords in helping to resolve the housing crisis, and therefore adopt policy measures that will support the sector.”