137. Deputy Eoin Ó Broin asked the Minister for Housing, Local Government and Heritage to confirm if his proposed changes to the rent pressure zone rules will result in the majority of private rental tenants experiencing significant rent increases within a period of four years. [5324/26]

Sentiment score: -0.03

We understand that on Tuesday the Minister intends to bring his rip-off rent hike Bill to Cabinet for approval, a Bill that will sound the death knell effectively, over time, of rent pressure zones, RPZs. This is going to result in ever greater numbers of renters having their rent reset to the market rate. Will the Minister confirm to the House that the overwhelming majority of renters, over a period of four years, will effectively lose the meagre rent pressure zone protections as a consequence of his actions?

Sentiment score: 0.03

The average length of a tenancy in the private rental sector is three and a half years and 25% of all tenancy registrations in a year are first-time tenancies. Students, particularly those in purpose-built student accommodation, typically rent year to year. The direct consequence of the legislation the Minister is going to bring to Cabinet on Tuesday is that from 1 March, ever greater numbers of renters will see already-unaffordable rents rise even higher. That is what he is doing. For some, it will be at the beginning of their tenancy but for all, it will happen within six years and for students, it will happen year on year. What that means is that over a period of four years, the overwhelming majority of tenants will move from a situation of having the meagre and modest protections of the rent pressure zones to even higher rip-off rents. Nobody believes that this will result in rents being reduced in the short to medium term. The Minister and his Department have done no analysis so why is he coming into this Chamber and misleading people by saying that this Bill will not result in ever increasing rip-off rents when that is what it is designed to do? Institutional investors asked for it. They are the only people who wanted it. He has given it to them and renters are going to pay the price.

Sentiment score: -0.06