Malcolm Noonan advises caution ahead of law to be passed on Thursday providing for 41-week agreements
The new legislation allows students serve a 28-day notice of termination at any time from May 1st to October 1st to end a lease agreement. Photograph: iStock
The legislation will be rushed through the Dáil and Seanad this week with Senators expected to vote on an early signature motion, which asks President Michael D Higgins to consider the Bill within five days of its passage through the Oireachtas. The Bill will also allow a student who switches courses shortly after starting the term, to break their fixed-term agreement until October 1st each year.
The Galway West TD said she understood “the difficulty in making retrospective a new law such as this when we are dealing with contractual issues. “If you want to turn student accommodation into an asset for investment funds, you build into it an entirely different financial logic, one based on maximising rental yields and minimising tax payment.”
The Bill gives “welcome flexibility, so that student accommodation will now follow the traditional academic year of September to May unless a student requests a tenancy in excess of that”.
Mairead-Farrell Darragh-O-Brien Union-Of-Students Dail-Eireann Ivana-Bacik
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