The landlord-tenant problem and energy efficiency in the residential rental market
The aim of this paper is to test for the persistence of the landlord-tenant energy efficiency problem in the residential rental property market in the presence of information on property energy performance. To do this, we compare the efficiency of rental and non-rental properties using a combination...
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| Veröffentlicht in: | Energy policy 2021-10, Vol.157, p.112458, Article 112458 |
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| creator | Petrov, Ivan Ryan, Lisa |
| description | The aim of this paper is to test for the persistence of the landlord-tenant energy efficiency problem in the residential rental property market in the presence of information on property energy performance. To do this, we compare the efficiency of rental and non-rental properties using a combination of Coarsened Exact Matching (CEM) and parametric regression. We use a sample of 585,578 residential properties in the Republic of Ireland - a region that legally requires rental properties to display energy performance certificates when advertised. The findings suggest that the landlord-tenant problem is present in the Irish rental market but that it is not uniform across locations, indicating the influence of other factors. To explore this further, we exploit the regional variation in rental property prices. We find a larger difference between rental and non-rental properties’ energy efficiency in markets with scarcity in rental property supply. In addition, we are able to take advantage of a unique trait in building design to compare rental and non-rental properties which were identical at the time of their construction. The findings from this sub-group mirror our finding for the sample as a whole.
•Significant difference in energy performance of rental and non-rental properties.•Matching of similar rental and non-rental properties enables robust analysis.•Landlord-tenant problem persists in jurisdictions with mandatory EPC disclosure.•Large heterogeneity in findings based on an urban-rural divide.•Efficiency difference is bigger in markets with scarcity in rental property supply. |
| doi_str_mv | 10.1016/j.enpol.2021.112458 |
| format | Article |
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•Significant difference in energy performance of rental and non-rental properties.•Matching of similar rental and non-rental properties enables robust analysis.•Landlord-tenant problem persists in jurisdictions with mandatory EPC disclosure.•Large heterogeneity in findings based on an urban-rural divide.•Efficiency difference is bigger in markets with scarcity in rental property supply.</description><identifier>ISSN: 0301-4215</identifier><identifier>EISSN: 1873-6777</identifier><identifier>DOI: 10.1016/j.enpol.2021.112458</identifier><language>eng</language><publisher>Kidlington: Elsevier Ltd</publisher><subject>Building design ; Certificates ; Coarsened exact matching (CEM) ; Construction ; Efficiency ; Energy efficiency ; Energy performance certificate (EPC) ; Energy policy ; Housing market ; Information asymmetry ; Lessors ; Market failures ; Prices ; Property ; Real estate ; Residential energy ; Residential properties ; Scarcity ; Split incentives</subject><ispartof>Energy policy, 2021-10, Vol.157, p.112458, Article 112458</ispartof><rights>2021 The Authors</rights><rights>Copyright Elsevier Science Ltd. Oct 2021</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c409t-698b93c0157f046f3dc3456b1ad313c9c861ee669aae12c2485b846d05d91aa43</citedby><cites>FETCH-LOGICAL-c409t-698b93c0157f046f3dc3456b1ad313c9c861ee669aae12c2485b846d05d91aa43</cites><orcidid>0000-0002-8321-8202</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://dx.doi.org/10.1016/j.enpol.2021.112458$$EHTML$$P50$$Gelsevier$$Hfree_for_read</linktohtml><link.rule.ids>314,780,784,3548,27865,27923,27924,45994</link.rule.ids></links><search><creatorcontrib>Petrov, Ivan</creatorcontrib><creatorcontrib>Ryan, Lisa</creatorcontrib><title>The landlord-tenant problem and energy efficiency in the residential rental market</title><title>Energy policy</title><description>The aim of this paper is to test for the persistence of the landlord-tenant energy efficiency problem in the residential rental property market in the presence of information on property energy performance. To do this, we compare the efficiency of rental and non-rental properties using a combination of Coarsened Exact Matching (CEM) and parametric regression. We use a sample of 585,578 residential properties in the Republic of Ireland - a region that legally requires rental properties to display energy performance certificates when advertised. The findings suggest that the landlord-tenant problem is present in the Irish rental market but that it is not uniform across locations, indicating the influence of other factors. To explore this further, we exploit the regional variation in rental property prices. We find a larger difference between rental and non-rental properties’ energy efficiency in markets with scarcity in rental property supply. In addition, we are able to take advantage of a unique trait in building design to compare rental and non-rental properties which were identical at the time of their construction. The findings from this sub-group mirror our finding for the sample as a whole.
•Significant difference in energy performance of rental and non-rental properties.•Matching of similar rental and non-rental properties enables robust analysis.•Landlord-tenant problem persists in jurisdictions with mandatory EPC disclosure.•Large heterogeneity in findings based on an urban-rural divide.•Efficiency difference is bigger in markets with scarcity in rental property supply.</description><subject>Building design</subject><subject>Certificates</subject><subject>Coarsened exact matching (CEM)</subject><subject>Construction</subject><subject>Efficiency</subject><subject>Energy efficiency</subject><subject>Energy performance certificate (EPC)</subject><subject>Energy policy</subject><subject>Housing market</subject><subject>Information asymmetry</subject><subject>Lessors</subject><subject>Market failures</subject><subject>Prices</subject><subject>Property</subject><subject>Real estate</subject><subject>Residential energy</subject><subject>Residential properties</subject><subject>Scarcity</subject><subject>Split incentives</subject><issn>0301-4215</issn><issn>1873-6777</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2021</creationdate><recordtype>article</recordtype><sourceid>7TQ</sourceid><recordid>eNp9UMtOwzAQtBBIlMIXcInEOcEbO05y4IAqXlIlJFTOlmNvwCF1iu0i9e9xW86cZrWa2Z0ZQq6BFkBB3A4Fus00FiUtoQAoedWckBk0NctFXdenZEYZhZyXUJ2TixAGSilvWj4jb6tPzEblzDh5k0d0ysVs46duxHWW1hk69B-7DPveaotO7zLrsphEHoM16KJVY5pdTLBW_gvjJTnr1Rjw6g_n5P3xYbV4zpevTy-L-2WuOW1jLtqma5mmUNU95aJnRjNeiQ6UYcB0qxsBiEK0SiGUuuRN1TVcGFqZFpTibE5ujneT3e8thiiHaetdeinLquF1LQTQxGJHlvZTCB57ufE2Gd1JoHJfnhzkoTy5L08ey0uqu6MKU4Afi16GQ3o01qOO0kz2X_0vfx54xg</recordid><startdate>202110</startdate><enddate>202110</enddate><creator>Petrov, Ivan</creator><creator>Ryan, Lisa</creator><general>Elsevier Ltd</general><general>Elsevier Science Ltd</general><scope>6I.</scope><scope>AAFTH</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>7SP</scope><scope>7TA</scope><scope>7TB</scope><scope>7TQ</scope><scope>8BJ</scope><scope>8FD</scope><scope>DHY</scope><scope>DON</scope><scope>F28</scope><scope>FQK</scope><scope>FR3</scope><scope>H8D</scope><scope>JBE</scope><scope>JG9</scope><scope>KR7</scope><scope>L7M</scope><orcidid>https://orcid.org/0000-0002-8321-8202</orcidid></search><sort><creationdate>202110</creationdate><title>The landlord-tenant problem and energy efficiency in the residential rental market</title><author>Petrov, Ivan ; Ryan, Lisa</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c409t-698b93c0157f046f3dc3456b1ad313c9c861ee669aae12c2485b846d05d91aa43</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2021</creationdate><topic>Building design</topic><topic>Certificates</topic><topic>Coarsened exact matching (CEM)</topic><topic>Construction</topic><topic>Efficiency</topic><topic>Energy efficiency</topic><topic>Energy performance certificate (EPC)</topic><topic>Energy policy</topic><topic>Housing market</topic><topic>Information asymmetry</topic><topic>Lessors</topic><topic>Market failures</topic><topic>Prices</topic><topic>Property</topic><topic>Real estate</topic><topic>Residential energy</topic><topic>Residential properties</topic><topic>Scarcity</topic><topic>Split incentives</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Petrov, Ivan</creatorcontrib><creatorcontrib>Ryan, Lisa</creatorcontrib><collection>ScienceDirect Open Access Titles</collection><collection>Elsevier:ScienceDirect:Open Access</collection><collection>CrossRef</collection><collection>Electronics & Communications Abstracts</collection><collection>Materials Business File</collection><collection>Mechanical & Transportation Engineering Abstracts</collection><collection>PAIS Index</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>Technology Research Database</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><collection>ANTE: Abstracts in New Technology & Engineering</collection><collection>International Bibliography of the Social Sciences</collection><collection>Engineering Research Database</collection><collection>Aerospace Database</collection><collection>International Bibliography of the Social Sciences</collection><collection>Materials Research Database</collection><collection>Civil Engineering Abstracts</collection><collection>Advanced Technologies Database with Aerospace</collection><jtitle>Energy policy</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Petrov, Ivan</au><au>Ryan, Lisa</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>The landlord-tenant problem and energy efficiency in the residential rental market</atitle><jtitle>Energy policy</jtitle><date>2021-10</date><risdate>2021</risdate><volume>157</volume><spage>112458</spage><pages>112458-</pages><artnum>112458</artnum><issn>0301-4215</issn><eissn>1873-6777</eissn><abstract>The aim of this paper is to test for the persistence of the landlord-tenant energy efficiency problem in the residential rental property market in the presence of information on property energy performance. To do this, we compare the efficiency of rental and non-rental properties using a combination of Coarsened Exact Matching (CEM) and parametric regression. We use a sample of 585,578 residential properties in the Republic of Ireland - a region that legally requires rental properties to display energy performance certificates when advertised. The findings suggest that the landlord-tenant problem is present in the Irish rental market but that it is not uniform across locations, indicating the influence of other factors. To explore this further, we exploit the regional variation in rental property prices. We find a larger difference between rental and non-rental properties’ energy efficiency in markets with scarcity in rental property supply. In addition, we are able to take advantage of a unique trait in building design to compare rental and non-rental properties which were identical at the time of their construction. The findings from this sub-group mirror our finding for the sample as a whole.
•Significant difference in energy performance of rental and non-rental properties.•Matching of similar rental and non-rental properties enables robust analysis.•Landlord-tenant problem persists in jurisdictions with mandatory EPC disclosure.•Large heterogeneity in findings based on an urban-rural divide.•Efficiency difference is bigger in markets with scarcity in rental property supply.</abstract><cop>Kidlington</cop><pub>Elsevier Ltd</pub><doi>10.1016/j.enpol.2021.112458</doi><orcidid>https://orcid.org/0000-0002-8321-8202</orcidid><oa>free_for_read</oa></addata></record> |
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| language | eng |
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| source | PAIS Index; ScienceDirect Journals (5 years ago - present) |
| subjects | Building design Certificates Coarsened exact matching (CEM) Construction Efficiency Energy efficiency Energy performance certificate (EPC) Energy policy Housing market Information asymmetry Lessors Market failures Prices Property Real estate Residential energy Residential properties Scarcity Split incentives |
| title | The landlord-tenant problem and energy efficiency in the residential rental market |
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