I noted a lot of interest in many of the comments made. Both the Minister, Deputy Browne, and I were listening in. I noted Deputy O'Reilly's comments when she said with glee that her constituency is Fianna Fáil free. I come from a constituency, Cork South-West, where we do not have a single Sinn Féin councillor, Senator or TD. That is because, thankfully-----

Sentiment score: 0.26

-----the people of Cork South-West can see through its empty politics. That is just an answer back on that one.

Sentiment score: -0.10

Thanks as well-----

Sentiment score: 0.44

-----for the other comments. I listened with interest because what the Deputies have done is highlight the issues. Rents are too high, we do not have enough supply and we have far too much homelessness. This is something we all know. It is something that this Bill is trying to address. We often hear references to the Housing Agency and its recommendations. What the Housing Agency has asked the Government to do is to ensure more protection for renters, which is what this Bill does through designating the entire country an RPZ, and the necessity to attract more investment in the provision of accommodation. That is what we are looking to do. The Minister has been set an incredibly difficult task but this legislation creates that balance. I can speak on behalf of my constituents in Cork South-West. Clonakilty, the town I come from, was not in an RPZ. There was a function to be able to reset rents at any rate and there was no restriction on that. Now, there is that restriction. I can tell the Deputies a lot of constituents in Clonakilty, and in those other towns outside RPZs, have greeted this with a sense of relief. That is a fact; I am talking to my constituents as well. We have also seen a positive reaction from investment. I am very confident that what we see in this legislation will lead to an increase in supply and see a levelling off of the rapid rate of rent increases we have seen in this country over the last number of years. The Private Rental Sector Review, published in 2024, highlighted the need to improve certain aspects of rent regulation. Following the completion of the review, the Housing Agency was requested to undertake a review of RPZs and the Review of Rent Pressure Zones and Consideration of Potential Policy Options for Rent Controls in the Private Rented Sector was published by the agency in June 2025. A key focus of the review was to examine the impact of RPZs on the rental market and to make recommendations on whether rent controls should be removed, modified or amended. The Housing Agency report recommended that the existing system of rent controls be modified with the introduction of a national system of rent controls allowing rental prices to adjust with inflation within a tenancy, and for rent resetting between tenancies to reflect market rents, with enhanced tenancy security measures to protect against economic evictions. The review involved engagement with a wide variety of stakeholders, including investors, representatives of landlord and tenant advocacy groups, academics and the Residential Tenancies Board. It also involved an extensive analysis of domestic and international research on rent regulation. From the review, it is clear there has been meaningful moderation of rents due to the existence of RPZs. However, tenants outside RPZs did face higher rent increases. Today’s Bill, providing for a national rent control, will help all tenants. The review suggested that there is a negative supply impact linked to the 2021 tightening of the RPZ rent controls, including the imposing of a real price cut when inflation exceeds 2%, which correlated with an increase in the supply of homes for sale and a decline of rental registrations. The review also noted international research on rent control, which suggested that controlled rents deliver a considerable price reduction to sitting tenants. However, they might not significantly improve affordability. Tenants might have faced higher rents upon tenancy commencement in new rental accommodation, with the rent increase restriction priced into the initial rent set. Over time, reduced supply is likely to see higher rents impact on tenant mobility. There is also the risk that landlords will not make the necessary investment in maintenance and refurbishment. The review also identified that lreland’s current RPZ system appears to be severe for two reasons. First, it sets its rent cap at 2% or the inflation rate, whichever is lower, meaning that rent increases may not keep pace with inflation and, second, it does not allow for a resetting of rents to market rates after a tenancy ends. The linking of rent regulation to a property rather than a tenancy, as is the case with RPZs, is viewed as a more stringent system of rent control. The review highlighted that RPZ reform could incentivise investment and would likely have a positive effect on supply. It also noted other factors, such as interest rates and measures to support viability, which the Government was actively considering during the period of the review. This is why, at its meeting on 10 June 2025, the Government approved new policy measures to provide for enhancement to rent controls and tenancy protections from 1 March 2026. The stronger tenancy protections will provide further improvements to security of tenure. The rental sector provides a home for a significant proportion of the population and we need to give people more certainty that their tenancy will not be ended. We want to provide more stability and confidence to renters. All landlords will continue to have the option to sell with the tenants in situ at any time. In order to stimulate investment and keep existing landlords in the market, the resetting of rents to market value for new tenancies created on or after 1 March 2026 will be allowed as part of the reform of rent controls. The linking of rent control to a property rather than a tenancy under the current RPZ system of rent control makes investment in rental accommodation less attractive in Ireland. A proportion of tenancies in the State are charging below market rent and, under the current regulatory regime, can never increase rent to market rent. By allowing rent resetting for new tenancies from 1 March 2026, existing and new landlords, who are vital for the sector, will be able to ensure that their investment is viable. Rent resetting cannot apply where the most recent tenancy ended through a no-fault eviction. Also, rent resetting allows landlords to lower rents in the knowledge that the rents could be reset at the start of the next tenancy. Rent resetting will also be allowed after each six-year period of a long-standing tenancy that commences on or after 1 March 2026. Given the critical need to attract investment in new apartment development for the rental market, rent increases for apartments, subject to both a commencement notice and a certificate of compliance on completion under building control regulations on or after 10 June 2025, will be linked to the inflation rate without the application of a 2% cap. These reforms aim to encourage investment in, and development of, new housing supply, including new rental apartments, to help slow down rent increases and moderate rent levels over time. We already see some evidence of increased confidence in investment in the sector since the announcement of these measures last June. In line with the commitment in the programme for Government and a recommendation of the Housing Commission, the Bill provides for a rent price register. The RTB’s published register will now include the rent amount and other relevant tenancy information, such as floor area, number of bedrooms and bed spaces, and the BER of the dwelling. The aim is for rent information available through the published register to support landlords to set lawful rents and help prospective tenants to assess the prevailing rents in their area. The Government has committed to providing a stable and predictable rental sector to attract and retain the private investment needed to meet our housing demand. The impact of the current rent control system on the supply of new homes for rent has informed the development of this Bill. The provisions of the Bill aim to attract more private investment into the Irish rental sector as soon as is possible. Increasing the supply of private rental accommodation is crucial to meet housing demand and improve rent affordability. Rent controls are a key protection while housing demand is greater than housing supply. Investment market reports indicate that very little private investment of scale has gone into the development of new-build homes for the private rental sector since mid-2022. Numerous market and expert reports have all identified the current rent control system as an impediment to the supply of new private rental accommodation. The Housing Agency’s review, the Private Rental Sector Review of 2024, the Department of Finance’s report on the flow of finance for residential development of 2024, the Housing Commission, the ESRI, the OECD and the IMF have all identified the current rent control system as an impediment to the supply of new private rental accommodation. The Government is aware of the difficulties faced by many renters in accessing affordable and suitable rental accommodation in today’s constrained market. I believe we all share a common goal of providing quality, affordable accommodation for renters. Delivering Homes, Building Communities 2025-2030 commits to improving the supply and affordability of rental accommodation and security of tenure. The Government is committed to growing investment in the rental sector. This Bill will help to attract investment and increase the supply and choice of accommodation available for rent. I again thank Deputies for their contributions and commend the Residential Tenancies (Miscellaneous Provisions) Bill 2026 to the House. I look forward to progressing through the Remaining Stages of the Bill over the coming weeks.

Sentiment score: 0.20