• There will also be increased protection for rental deposits.
• The HAP (Housing Assistance Payment) system will be reduced, and replaced with low-cost housing.
.RTE are reporting that the draft Programme for Government provides that -
• The moratorium on evictions brought in during the Covid-19 crisis will be extended.
• Security for rental tenants will be increased, while longer lease periods for rental properties will be introduced.
• There will also be increased protection for rental deposits.
• The HAP (Housing Assistance Payment) system will be reduced, and replaced with low-cost housing.
Can't see anything there to encourage anybody to stay in the residential letting business…
Details of programme for government document emerging
Talks between Fianna Fáil, Fine Gael and the Green Party will continue tomorrow morning, as they seek to sign off on the draft agreement on a programme for government.www.rte.ie
Here in Belgium, the security deposit has to be lodged into a joint account and can only be released with signature of both parties. While it gives more security to the tenant to know that landlord cannot simply 'take' the deposit, in practice it is still weighted in favour of landlord since it is usually the tenant that is in more of a hurry and therefore landlord has leverage. The amount to be deducted is based on a report by an assessor (paid for by both parties) which is checked against similar report done at start of lease. Assessor then uses prices and norms set by government to arive at a cost to be deducted, which shopuld be agreed jointly by tentant and landlord. Very complicated, very bureaucratic, and mainly benefits the assessor.This in in principle a good thing. But it will not be cheap. Will the RTB be equipped with a treasury arm to manage and administer deposits? Risk, compliance, audit, IT.......this kind of thing runs to millions. Who would pay?
Here in Belgium, the security deposit has to be lodged into a joint account and can only be released with signature of both parties. While it gives more security to the tenant to know that landlord cannot simply 'take' the deposit, in practice it is still weighted in favour of landlord since it is usually the tenant that is in more of a hurry and therefore landlord has leverage. The amount to be deducted is based on a report by an assessor (paid for by both parties) which is checked against similar report done at start of lease. Assessor then uses prices and norms set by government to arive at a cost to be deducted, which shopuld be agreed jointly by tentant and landlord. Very complicated, very bureaucratic, and mainly benefits the assessor.
Banks here will also give guarantees for security deposit. But of course depends on credit rating, and comes with a nice fee. very popular with amount of ex-pats working for institutions and big MNCs.This is the best system of course.
There is the cost of assessment of course. Even if landlord is obliged to pay some of the cost will be borne by the tenant.
Banks will also have to be incentivised to offer this kind of escrow account product. Otherwise they would very likely charge fees.
Banks here will also give guarantees for security deposit.
How much does it cost. And also how much does the assessor charge for the reports and who pays for that.Banks here will also give guarantees for security deposit. But of course depends on credit rating, and comes with a nice fee. very popular with amount of ex-pats working for institutions and big MNCs.
No idea of the cost for the guarantee to be honest, but consists of set up fee and maintenance fee. all the big banks offer them - ING, KBC etc. Here's some info on ING website .How much does it cost. And also how much does the assessor charge for the reports and who pays for that.
● Develop a cost rental model for the delivery of housing that creates affordability for tenants
and a sustainable model for the construction and management of homes. In doing this, we
will be informed by international experience of the delivery of cost rental, such as the
‘Vienna Model’ and others.
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● Examine the creation of a system of holding rental deposits informed by international
experience.
● We will reduce our reliance on the use of HAP for new social housing solutions as the supply
of social and public housing increases.
● Mandate and resource the Residential Tenancies Board (RTB) to hear dispute resolution
cases where deposits are concerned so that the tenant can have their deposit returned to
allow them secure another property and to allow for swift resolution of disputes between
landlords and tenants.
● Continue the RTB change programme, transforming it into an independent and strong
regulator for tenants and landlords.
● Strengthen the regulatory and enforcement mechanisms with regard to short-term lettings.
● Support the adequate supply of rental accommodation by ensuring equity and fairness for
landlords and tenants.
● Reform the Fair Deal scheme to incentivise renting out vacant properties.
● Improve the security of tenure for tenants, through legislating for tenancies of indefinite
duration, increasing RTB inspections and enforcement and examining incentives for
long-term leasing.
● Instruct local authorities as part of their housing strategies to undertake and publish a rental
needs assessment.
● Examine the measures that may be needed to support tenants, as a result of COVID-19
informed by the forthcoming research from the Economic and Social Research Institute
(ESRI).
● Extend the moratorium on the termination of tenancies, in line with public health advice, if
the requirements of Section 4 of the Emergency Measures in the Public Interest (Covid-19)
Act 2020 are met.
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