Regulation of the Private Rented Sector: Where Do We Go From Here? Eoin O’Sullivan Trinity College Dublin

Proposals are firmly geared towards increasing supply, via restoring and enhancing the tax treatment of Landlords in the PRS. Increasing knowledge of the sector and professionalizing the sector are deemed crucial. Further regulation in terms of rent certainly or security of tenure deemed to be ‘risky’ and could ‘jeopardize’ the sector.

Perversity thesis – the action undertaken in its name is ill- conceived; indeed, they will most typically argue that this action will produce, via a series of unintended consequences, the exact contrary of the objective that is being pursued. While the thesis of the perverse effect proclaims that the alleged progress will in fact lead to regress, the futility thesis asserts, to the contrary, that the attempt at change is abortive, that in one way or another any change is or was largely surface, facade, cosmetic. The Jeopardy thesis asserts that to move in a certain direction, though feasible and even desirable if viewed in isolation, carries with it unacceptable costs of one sort or another.

Secure Occupancy Access affordability Ongoing affordability Security of tenure Terms of tenancy Conditions of tenancy Redress Housing assistance Tenancy support and tenancy sustainment programs Ontological security

de Boer, R. and R. Bitetti (2014), “A Revival of the Private Rental Sector of the Housing Market?: Lessons from Germany, Finland, the Czech Republic and the Netherlands”, OECD Economics Department Working Papers, No Adequate tenancy security has positive consequences for the housing market For both investors and tenants a high security of tenure creates a stable and long-term demand for rental dwellings and investors profit from stable incomes. Substantially reducing tenancy security affects long-term demand. Unbalanced tenancy protection and inefficient eviction procedures hamper PRS. Both ‘over-regulation’ and ‘under-regulation’ of rent setting can lead to a marginal PRS.

Next Steps New Legislative Framework o Eliminate existing difficulties o Integrated framework for providing secure occupancy Enhanced role for the RTB Private Renting and Public Policy