Sinn Féin Bill would ban rent increases for three years - Eoin Ó Broin TD
Sinn Féin Housing spokesperson Eoin Ó Broin TD has introduced at first stage in the Dáil the Ban on Rent Increases Bill 2020, which would prohibit rent increases for all existing and new tenancies for three years.
Teachta Ó Broin said:
“The Ban on Rent Increases Bill 2020 will prohibit rent increases for all existing and new tenancies for three years and is an update to legislation we published last year.
“Under the new Bill, current rents in existing tenancies will be capped at their rate on the date the new legislation is enacted, and new tenancies will be set according to the Residential Tenancies Board rent index.
“The prohibition on rent increases will run for three years with an annual review mechanism built into the legislation.
“Rents are too high and too many people are paying too much money to keep a roof over their heads.
“Since Rebuilding Ireland was launched in 2016, rents across the State have increased by an astonishing 40%.
“The average asking rent across the State is now €1,400 per month.
“The situation is much worse in Dublin, with rents increasing by an astonishing 70% over the same period and an average asking rent in the city and county of €2,000 per month.
“It is €7,500 a year more expensive to rent in Dublin today than when Rebuilding Ireland was launched.
“As Fianna Fáil bicker about the Constitutionality or otherwise of extending the current ban on evictions, notices to quit and rent increases, Sinn Féin is demonstrating what is a clear priority for us in government.
“A three year ban on rent increases with an annual review is reasonable, proportionate, fair and most importantly, absolutely necessary to protect hundreds of thousands of hard-pressed renters.
Note to editors: A copy of Teachta Ó Broin's Bill and an explanatory memorandum can be found at the links below.