Upward only rent law: All clear now

I had always been puzzled by the upward only rent law, I thought there must be some reasonable explanation for such an apparently unfair law.

All became clear on the Frontline last Monday as Ann Hargaden, of Lisney’s Estate Agents, literally squirmed in her seat as she tried to justify this law.

If this law is changed, she warned, it will have devastating effects on international investors coming into Ireland to buy property from NAMA.

When that argument failed to convince Hargaden’s line of thought became even more bizarre.

Think about it, she argued. Who’s going to be hurt by this? (if the law is changed to allow rents to go down). The taxpayer, she triumphantly declared, will pay.

The taxpayer is now the landlord. The taxpayer owns the banks, the taxpayer owns NAMA. If property depreciates in value it’s the taxpayer who will suffer.

So it’s all clear to me now.

The upward only rent law is a scam put in place by our corrupt political system to protect and enrich those involved in the property market at the expense of taxpayers.

2 thoughts on “Upward only rent law: All clear now”

  1. Yes indeed. The upward only rent law is truly bizarre. It seems rents (commercial only?) are immune from this famous free market of goods and services so beloved by the ruling elite. (who are they by the way – the illuminati?). It doesn’t make sense. If rents become so high as to be unaffordable for business people and properties become progressively and increasingly vacant, whence the income from these properties and thus the income of the landlord? or am I irredeemably economically ignorant?

  2. I dont get this either. I dont know much about property but surely a landlord will always accept lower rent rather than leave a place empty? As for who made it up, no doubt its those with the inside track…. The same people behind the property bubble. I was always puzzled by why its not possible to know what a house was sold for. This information is free for every house in the UK but herd they hide behind bulls..t like the Data Protection Act. Of course it would be the same people behind all these things. Theyre still running the country even now.

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