Rent inflation and promised renters bill
Deputy Doherty attacked the Government’s July decision to peg rents to inflation, warning it would let rents rise sharply. The Minister said a new renters Bill would be brought forward urgently, and Doherty mocked the Government’s timing.
In its wisdom, the Government in July pegged rents to inflation. That was at a time when we were warning about rising prices and my colleague, Deputy Eoin Ó Broin, said this measure was too little, too late, and tenants would be left at the mercy of unpredictable and high inflation.
Three months on, what has happened? It is exactly as we said. Inflation is now running at over 4.3%, meaning a tenant subject to a landlord's review today could see the rent pushed up by 4.3%. Somebody in Dublin paying the average rent of €1,848 per month could see the rent increased by a landlord by over €950 per year. Does the Minister agree the Government has made a dog's dinner of this matter? Does he agree that the Government must implement the proposals Sinn Féin has advocated for years now?
Will the Government introduce a rent freeze to cover the next three years and bring in a refundable tax credit, which would put a month's rent back into renters' pockets?
Comment on this
The Minister for Housing, Local Government and Heritage, Deputy Darragh O'Brien, has introduced five Bills in this House on the rental sector. While much of this legislation may have related to Covid emergency measures, there is no shortage of ambition to address the rental crisis. I understand the Minister now intends to progress, with the greatest urgency, a specific new renters Bill to address headline inflation rate being above 4%, a development that was not expected. He will introduce a Bill in the House in the coming weeks that will address the issue, in recognition that we have to give protection to renters at this time of high inflation.