A number of buy-to-let landlords will flee the market if the proposals in the Northern Ireland Private Tenancies Bill go-ahead in their existing form. That is the stark warning issued to the Northern Ireland Executive.
Daryl McIntosh has described the proposals in the Northern Ireland Private Tenancies Bill, stating “some are very welcome, some don’t go far enough and some need to go forward with caution”.
McIntosh gave evidence last Thursday to the Northern Ireland Assembly Committee for Communities to address proposals in the Private Tenancies Bill.
The Private Tenancies Bill aims to elevate safety standards and improve security for tenants in Northern Ireland.
The Bill includes provisions for restrictions on the frequency of rent increases, changes to Notice to Quit periods, caps on deposits, and powers to introduce regulations on minimum energy efficiency standards and electrical safety.
Discussing the impact of proposed changes McIntosh highlighted the need for fairness.
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