Ms Ann-Marie O'Reilly:

I thank the Deputy. I will answer the second question first and then hand over to Mr. Duggan on the first.

Senator Moynihan asked what two things we would ask for. While my gut reaction is a moratorium and a rent freeze we know that is not necessarily the most suitable solution. It has an array of challenges. Two we think could start to provide immediate relief and assistance is the promotion of long-term lease agreements in the private rented sector. The IPOA has mentioned there is a difference between residential leases and commercial leases. We could have long-term leases in the rental sector where there are perhaps fewer obligations on the landlord regarding what is provided in the property, maintenance and so on but the tenant has a guaranteed agreement for ten, 15 or 20 years. How the rent is set on that and reviewed would need to be considered a bit differently. The promotion of those would be a big help. There are plenty of people over a certain age who will never buy their own home, are well settled in their community and would probably be very happy to remain in their rented home. We have previously suggested that could be done through reduced tax for landlords who provide those agreements.

On the scheme to buy properties with a tenant in situ, we have suggested a targeted capital gains tax for landlords who are selling but perhaps there needs to be a fully-funded national scheme for that. The current tenant in situ purchase is new and on a circular basis. We are not really seeing a huge appetite for it yet but maybe there could be something more on that. On tax mechanisms, I mentioned the long-term lease agreements as per Deputy Higgins's question.

I will let Mr. Duggan answer the question on the impact of allowing rent increases at the turnover of tenancy in rent pressure zones.