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The Dutch private rental sector

The Dutch private rental sector. Some observations Marietta Haffner 2 June 2011 LSE London Workshop The Revival of PR in the UK: Lessons from Abroad. Structure. Development of PRS Tenants Rent control Income taxation Summary of special features. Development of PRS.

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The Dutch private rental sector

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  1. The Dutch private rental sector Some observations Marietta Haffner 2 June 2011 LSE London Workshop The Revival of PR in the UK: Lessons from Abroad

  2. Structure Development of PRS Tenants Rent control Income taxation Summary of special features

  3. Development of PRS Source: Haffner et al (2008)

  4. Tenure distribution, 1947-2009

  5. Tenants of PRS • Intermediate sector between SR and OO incomewise, but closer to SR • Rents are higher on average than in social renting (share of housing allowance recipients is lower) • Singles and couples without children are overrepresented in comparison to SR • In institutional renting 65+ tenants are overrepresented • In private person renting >30 years of age are overrepresented • Periods of occupation are relatively long on average (between 11 and 13 years)

  6. Rent control and tenant security are independent of ownership • Regulated • All rents up to 652 Euro per month (2009) • 96% of SR (2008) • 77% of private person landlord • 59% of institutional landlord • Quality points determine maximum rent • Landlords determine level themselves • Many dwellings that could be deregulated have regulated rent • Indefinite rent contracts, minimum contract of 1 year possible for PR • Deregulated or liberalized • 5% of rental sector (2006)

  7. Income taxation of PR dwelling Institutions • Pension funds never pay corporate tax • Otherinstitutionspaycoporate tax(insurance companies, investors, estate agents) justlikehousingassociations do Private persons • Private person landlord running a business • Private person landlord as investors (taxed on imputed return) Compared to other income taxation (investments and wealth) No subsidization, except 1 Limited depreciation

  8. Special features summarized • Country where private rental sector has been squeezed enormously (from 60% to 10% or less); especially private person landlords • Rent controlNotdependent on ownership, but on actual rent level • Incometaxation‘Same’ treatment as otherwealth/investment (withexception of owner-occupation) • Housing allowance Available for private and social renting

  9. Thank you for your attention

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