The Irish Times has an interesting story on how Minister Noonan objected strongly to Minister Coveney's proposal to introduce rent caps -
http://www.irishtimes.com/news/irel...pposed-rent-cap-plan-documents-show-1.2957266
However, it seems to me that the Minister for Finance missed (or at least under-estimated) the most damaging and unfair aspect of the new rules - the fact that the rules will effectively prevent thousands of rental units from being let at their market rent for years.
Ultimately, in my opinion, this will cause a significant number of existing landlords to exit the market and will exacerbate the current shortage of rental accommodation.
Thoughts?
http://www.irishtimes.com/news/irel...pposed-rent-cap-plan-documents-show-1.2957266
However, it seems to me that the Minister for Finance missed (or at least under-estimated) the most damaging and unfair aspect of the new rules - the fact that the rules will effectively prevent thousands of rental units from being let at their market rent for years.
Ultimately, in my opinion, this will cause a significant number of existing landlords to exit the market and will exacerbate the current shortage of rental accommodation.
Thoughts?