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Ireland: Rising number of landlords leaving the rental market; crisis in the rental sector

According to the Residential Tenancies Board, the number of eviction notices served by landlords to tenants increased by 58 per cent in the first six months of 2022 compared to the previous six months.

So far in 2022 there have been 2,913 layoff notices, up from 1,845 in the last six months of 2021. Of this, 55 percent was for property sales. The number of eviction ban termination notices was reduced during the lockdown period of the Covid-19 pandemic last year. However, the moratorium on evictions was lifted in April 2021, and the numbers have been rising significantly since then. The number of layoff notices was 352 in the first quarter of 2021, but rose to 841 in the second.

Sinn Féin spokesman Eoin O'Brien called on Housing Minister Darragh O'Brien to call an "urgent meeting" on the rental crisis following a rise in the number of landlords choosing to leave the rental market.

Mr. O'Brien said the figures released by the Residential Tenancies Board were "so alarming" that urgent action was needed. The number of notices to quit has skyrocketed in recent months, which could see a dramatic increase in evictions in the near future. The Housing Minister needs to call an urgent meeting to resolve this apparent crisis in the rental sector. The meeting should include the Residential Tenancies Board, tenant and landlord representative organizations and opposition housing advocates, he said.

Landlords exiting the private rental market is leading to a lack of housing availability options and homelessness is driving many into homelessness. This will only deepen Ireland's homelessness crisis, and further action to provide affordable housing is nowhere to be seen.

"We urgently need a crisis intervention plan to slow down the disorderly exit of private landlords from the rental market." John McCafferty, chief executive of housing charity Threshold, says the private rented sector is facing an "onslaught of evictions".

But it should also be noted that service of a notice of termination does not always translate into an eviction, it may be intended as a further warning to the tenant to comply with their obligations in terms of a warning notice to pay rent arrears.

According to the Residential Tenancies Board, the biggest reason for giving notices is landlords intending to sell the property, followed by plans for the landlord or their family members to move into the property.

Behind the statistics are the individuals and families who enter homelessness and lose their homes. It is imperative that the government moves quickly to formulate a specific, targeted strategy for evictions to help keep people in their homes and ensure some degree of security around this.

A government earmark of €4 billion a year is to support projects for housing. But ultimately, the most effective way to help tenants in the medium to long term is to speed up the construction and supply of housing for the private and social rented sectors.

The government has extended rent pressure zones until the end of 2024, and bans rent increases from general inflation or 2 percent, whichever is lower, in a rent pressure zone.

READ MORE : https://www.rtb.ie/

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