Improving the functioning of the rental sector to include affordable renting plus stimulating and expanding the build-to-rent sector.
Rental housing, because of its flexibility, enables the housing market to adapt to the changing needs of the population. Almost one fifth of our population now lives in rented accommodation.
A vast improvement in how the country’s rental sector works is essential. Rental prices have increased by almost 20% since early 2012. The focus will be on addressing the obstacles to greater private rented sector delivery and improving the supply of homes at affordable rents.
Achieving this goal will include the implementation of affordable renting initiatives as well as encouraging build-to-rent developments, including expansion of the supply of student accommodation.
The plan commits to developing a strategy for a viable and sustainable rental sector by the end of the year, with early legislative actions brought forward in the autumn to govern tenancy terminations, particularly where a landlord proposes to sell a large number of homes within a development. This strategy was published on 13 December, 2016.
tenancies currently registered with the Residential Tenancies Board
We’ll develop a national strategy for an attractive, viable and sustainable private rented sector.
We’ll legislate to prevent evictions where 20 or more units are sold in a single development and strengthen the powers of the RTB to support landlords where significant arrears are owed. This figure was reduced to 10 units when the legislation was completed.
We’ll launch an Affordable Rental scheme to deliver rental properties aimed at households on low or moderate incomes.
We’ll encourage purpose-built rented accommodation and facilitate 7,000 additional student accommodation places by 2019.