Key One Property have taken to BBC Radio Ulster's Nolan Show this morning to defend landlords and set the record straight on rent prices. The programme covered rising rent prices in Belfast and questioned if landlords were making too much money. Gerry Carroll from People Before Profit has been pushing for rent caps, however the Department for Communities independent research has established that they do not work and can be counter-productive.

Rent caps reduce both the quantity and quality of private rental accommodation as landlords sell their properties. In the midst of a housing shortage, such a policy would only exacerbate the problem. But if landlords don't receive the correct market rate, then they are much less inclined to improve their rental properties and some even struggle to fund basic repairs. 

We explained to listeners that the rises in rent prices had been a result of significantly increased costs from high interest rates, repairs and maintenance and higher taxes and the decrease in supply as a result of this. We also told the programme that many of our landlords, when reviewing their rent, did not increase rents as much as the market rate, in recognition that big increases were difficult for tenants. 

Minister Gordon Lyons who participated in the discussion announced however that he was working on yet more punitive measures for landlords. These include reducing the number of times a landlord could increase a rent in a year and increasing the notice periods that landlords have to give tenants, but there was no mention of it being equal for landlords. Mr Lyons admitted that there was a housing shortage but still thinks it is a good idea to make providing rental accommodation even less attractive !

Key One Property support landlords. 

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