Speaking as the mother of two teenagers and one young adult who is renting, I am acutely aware of the pressures within Ireland's rental market currently. To make their way in the world, develop independent living skills and build the relationships that will last throughout their lifetimes, young people need a space they can call their own. Unfortunately, these spaces are becoming increasingly rare. In the most recent daft.ie report on the state of the Irish rental sector, a 20% reduction in the number of rental properties available was recorded. It does not take a degree in economics to know that where supply is diminished, prices will naturally rise. It is these price hikes that are barring young people and increasingly people in their 20s and 30s from entering the market. As things stand in Ireland's rental market, an entire generation is faced with an unenviable choice - return to your childhood bedroom or pack your bags and emigrate, as many generations before have done. In Carlow and Kilkenny, the picture is no different. A quick scan online yesterday showed that in the whole of County Carlow, only 23 properties were available to rent. In Kilkenny, there were 13 in the entire county yesterday. If we are to provide for renters and protect their dignity, we must get to grips with providing rental accommodation. The Government has identified the problem as one of supply. While the Opposition would prefer inaction, this Government is prepared to do something about that. The key to this approach as envisaged in this proposed Bill is to dismantle the existing vicious cycle of dwindling rental supply. Landlords with existing long-term tenants under previous conditions found they could not reset rents to reflect market rates legally. Even with new tenants, a landlord's ability to set a new rent was linked to the rate of the previous tenancy, effectively ensuring that small rural landlords were permanently kept below water. Facing rising costs in maintenance, insurance and mortgage interest, these landlords found they were simply not allowed to keep pace with the world around them. Making the only rational choice, small rural landlords decided to leave the market, decreasing rental supply even further and raising the market rates yet higher. An ESRI report on the supply-side effects of excessive regulation found that rent controls, specifically after they were tightened, brought about market exits, with the RPZ status associated with significantly fewer rent listings and registrations. If we are to boost supply, we must encourage those who provide it to enter the market. This is not about siding with landlords or renters or vice versa. It is about designing a system that works for everyone by working with everyone. Allowing landlords to reset to market rents for new tenancies will encourage these small landlords, who provide the backbone of rural Ireland's rental market, to open up their properties to rent. A six-year tenancy of minimum duration will provide the security that renters need to live their lives in comfort. Neither party should be at a disadvantage. There should be no reason we cannot simultaneously protect renters' rights while bringing landlords into the market. Presenting Ireland's rental market as a conflict between landlords and renters is a false binary peddled by those who prefer struggles to solutions. In the medium term, the policies outlined in this proposed Bill will bring supply on board, stabilise the market and put roofs over our young people's futures. I acknowledge change will not be instant, nor will it be without worry for some landlords and tenants, as change always brings about fear of the unknown. These measures will undoubtedly take time to become effective and may lead to a temporary rise in rents. I am buoyed, however, by the progress being made across government in the housing market. As we now know, housing delivery is ramping up at an unprecedented scale and solutions put in place by this Government are bearing fruit. This proposed Bill is one such solution. I am confident that in time it too will benefit us all.

Sentiment score: 0.07