Rent pressure zones not working, cost rental must be rolled out – Ó Broin
Sinn Féin Housing spokesperson Eoin Ó Broin TD has commented on the publication of the RTB rent index for quarter 3 of 2018 stating that “we urgently need to see a cost rental model rolled out to provide an alternative for those struggling with market rents”.
The average annual rent increase across the state was 7.5%, and up 9.5% in Dublin.
Deputy Ó Broin said:
“The latest figures published by the RTB show that the average rent across the country is now €1,122, an annual increase of 7.5%.
“In Dublin, the average rent for new tenancies is now €1,620, an annual increase of 9.5%.
“While the report does state that the rate of increase is slowing, this is of cold comfort to tenants looking for somewhere to live or struggling to hold on to an increasingly expensive tenancy.
“The rent pressure zone legislation is not working. The RTB report indicates that the annual increase growth for new tenancies was 8% compared to 5.4% for existing tenancies.
“So, new tenants are facing rents rises double the 4% cap and sitting tenants are still being hit will illegal rent hikes.
“The rent pressure zone legislation must be urgently reviewed and I am surprised Fianna Fáil did not demand this in its confidence and supply talks.
“Sinn Féin want a three year rent freeze on existing tenancies and any new tenancies should be capped at the RTB’s standardised rent index by county or LEA.
“We would also introduce a temporary refundable rent relief for all renters to help ease affordability pressures. This measure would give one month’s rent back to tenants annually.
“We need to see the urgent rollout of cost rental models across the State to provide an alternative to those struggling to keep pace with market rents.”