We are all aware of the rental crisis that Ireland is currently dealing with, and in a bid to tackle the growing issue, new proposals will be brought to the Cabinet today.
Hoping to give “rent predictability”, Minister for Housing Simon Coveney plans to limit rent increases in Dublin and Cork to four percent a year over the next three years, according to the Irish Times.
— AideenHayden (@Aideen_Hayden) December 8, 2016
Any area that has seen rents increase by above average in the past 18 months will be designated as 'rent pressure zones' by the Residential Tenancies Board.
Once an area is designated a 'rent pressure zone', the restrictions will apply for at least three years.
This doesn’t affect existing measures which only allow for a rent review every two years.
— Niamh Randall (@NiamhRandall) December 10, 2016
The news comes as Threshold – a charity set up to prevent homelessness and give housing advice – launches their annual report which calls for rent and “insecure tenancies” to be dealt with.
— Threshold (@ThresholdIRE) December 13, 2016