The Housing Minister says the scheme is to be reformed under new laws expected to be enacted by July 9th.
Rent increases in rent pressure zones, which includes the entirety of Co. Kildare, are to be capped in line with inflation.
Previously, landlords were only allowed increase rents for properties in these areas by 4 per cent a year.
That includes are 12,000 tenants in privately rented accommodation in Kildare.
The Housing Minister says the scheme is to be reformed under new laws expected to be enacted by July 9th.
The existence of rent pressure zones has also been extended until 2024.
Inflation was under 1 per cent last year and is currently at around 2 per cent.
Housing Minister, Darragh O’Brien, says if landlords go above that they’d be breaking the law.
New law will also ban evictions of struggling tenants for the rest of the year https://t.co/gJVxQIw9u0 via @IrishTimesBiz
— Irish Times Business (@IrishTimesBiz) June 30, 2021
Darragh O'Brien believes this change will help bring stability to the market:
Minister rent pressure zone reform proposals too little, too late - @EOBroin
— Sinn Féin (@sinnfeinireland) July 1, 2021
“If this government is serious about protecting renters, it will ban rent increases for three years for all new and existing tenancies."https://t.co/e49JEqAdM6 pic.twitter.com/EPxhErY3c3
Capped rent increases in rent pressure zones don't go far enough to protect tenants, according to some commentators.
Mairéad Cleary reports:
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