Sinn Féin spokesperson on Housing Eoin Ó Broin TD has called on the Minister for Housing to immediately introduce a ban on rent increases as a 2% cap in rent pressure zones will do little to halt rising rents.

Teachta Ó Broin said:

“The Minister for Housing is allegedly announcing a 2% rent cap in rent pressure zones today.

“Just like his last attempt, which saw the government linking rents to inflation at a time when inflation was overtaking the old 4% cap, this measure will fail.

“A rental cap limited to areas in rent pressure zones won’t work. The legislation as it currently stands has too many loopholes. 

“New rental properties on the market are exempt and it is difficult for the RTB to monitor and sanction landlords who are breaching the rent caps.

“Furthermore, it is tenants outside rent pressure zone areas that are currently being hit by double digit rent increases.

“The rent pressure zone legislation has failed. We need to move on. The Minister must introduce a three-year ban on rent increases.

“This is what Sinn Féin would do. We would also scrap rent pressure zones. We would also introduce a refundable tax credit that would put one month’s rent back into the pocket of every private rented tenant.

“We would also increase investment in affordable cost rental homes at scale. The cost of renting these homes should not be linked to the market and would remain permanently affordable, for between €700 and €900 a month, with tenancies of indefinite duration.”