Landlords may abandon rental market over new laws

The Dáil is set to debate the new laws next week

Landlords may abandon rental market over new laws

File photo

Landlords have warned that many of them may leave the rental market if they are restricted by new laws that are being proposed in the sector. 

The Dáil are set to debate the new legalisation next week which would end the practice of tenants being evicted when a property goes up for sale.

The new proposals were put forward by People Before Profit and the Anti Austerity Alliance who say they want to stop vulture funds from making people homeless.

Speaking about the possible new laws, Fintan McNamara of the Residential Landlords Association said it could make matters worse.

"We are the most heavily taxed and now most heavily regulated, with the most draconian form of rent control in western Europe at the moment.

"They say (the new rules are) going to be there for three years, but it may be extended down the road. It's not the most attractive place for investors at the moment."