Cost Rental

As housing policy continues on an increasingly private pathway, more of us are accommodated through the private rented sector.  We need to redesign this sector to reflect its increasing use a tenure of choice and necessity to protect the rights of tenants and to make it more affordable.  We need to uncouple our basic housing need from the boom-bust cycle of the property market.  One mechanism to address affordability is to introduce a cost rental system to scale.

The lack of quality, affordable, long-term rental properties; double-digit rent inflation and the continued use of private rent subsidies for families in need of a real social housing response only serves to add to the problem. It’s time to think of alternatives, and alternative ways to finance sustainable and affordable homes.

Government needs to move away from reliance on the private rented sector to provide solutions to Ireland's housing crisis.  This was echoed by the OECD last week in their recommendation that Ireland seek longer-term solutions that prioritise housing supply.  Cost-rental may provide one such public housing solution which allows the State to recover the cost of housing provision while providing security of rent for tenants currently experiencing double-digit rent inflation.