Property rents need to be fairer to landlords

In line with the introduction of the new regulations on tenants' rent, I reviewed the rents that are due to me with effect from January 1, 2010.

One can understand that this current government had to act with a lot of courage to introduce this Bill, while also having consideration for both the tenants and the landlords.

I also understand that this Bill (long overdue) had to ensure that some poorer citizens would be able to manage the rent rises.

However, out of 20 properties from my father's estate, only three needed to have their rent increased, and one of these was a garage.

The ceiling limit of €185 pa (equivalent to Lm80 pa or Lm1.50 per week less than a packet of cigarettes), is far too low as a starting point and the review period of three years is far too long, to gradually jack up rents to their fair level against the value of the properties (the investment). I am hoping that once this law has been enacted, the chancellor of the day will be able to assess these limitations on the budget date each year and hopefully be able to improve on the fairness of this law for the landlords, while giving tenants a good opportunity to either pay up or move to a more affordable property.