What rent controls apply to student accommodation?

[NoRegretsCoyote]

There was an interesting line in a story today about UCD's cancelling student housing plans.

The south Dublin university wrote to Minister for Higher Education Simon Harris earlier this year, stating the planned project could not go ahead, due to “increased construction costs and constraints on further rent increases”.

What rent controls apply here?

 

[ClubMan]

Any use?

Student Specific Accommodation | Residential Tenancies Board

RTB operates Ireland's National Tenancy Register and resolving disputes between Landlords, tenants and third parties. Governed by residential Tenancies Act 2004. View more information on landlords and tenancies.

www.rtb.ie

 

[Mocame]

The exact same rent controls apply to student housing as any other type of housing, ie. max 2% pa increase in rents. Universities receive no government subsidy to supply student housing. They can borrow from the European Investment Bank of Housing Finance Agency to fund the building but rents must cover the repayment costs. Obviously in this case the financials don't stack up.

 

[NoRegretsCoyote]

They can borrow from the European Investment Bank of Housing Finance Agency to fund the building but rents must cover the repayment costs.

Indeed but the lending is subsided even if it's not grant-in-aid.

Obviously in this case the financials don't stack up.

Nothing UCD can do about build costs of course but seems crazy that build viability is undermined by the rent controls.

 

[Allpartied]

Student accommodation is a joke. Pure market economics, with full time students, who clearly don't have the same earning capacity, expected to stump up 1000 Euros a month for one room, in a shared block. This type of accommodation should be heavily subsidised or financed via a student loan scheme.
I went to college in the 80's, in the UK, where my student accommodation cost me 10 quid a month, all bills included.

 

[Mocame]

EIB loans aren't subsidised they are just cheap because they are government guaranteed but the interest rates on these loans are rising just like all other forms of borrowing. Universities also have substantial borrowings for the provision of lecture theatres labs etc which the government also refuses to fund,

 

[NoRegretsCoyote]

EIB loans aren't subsidised they are just cheap because they are government guaranteed

Indeed.