Stockbroker suggests appointing rent receivers as prices continue to decline

THE appointment of rent receivers should be explored for the Irish market, according to Davy Stockbrokers.

This comes as new figures show that in July the average asking rent in the country was just over €835 per month, down 5% on the same time last year. This took the decline in rents from their peak to 27%,according to Daft.ie. However, the figures show there were further signs of stabilisation in the residential rental market in quarter two.

A receiver of rent takes receipt of rental income relating to properties where the mortgage is in arrears, and pays it to the lender.