Cian O'Callaghan (Dublin Bay North, Social Democrats) | Oireachtas source

A matter reported this week which is related to the Bill is that rents are being artificially fixed. Rents are not being recorded properly and this should be addressed in the legislation that the Minister mentioned. This has implications not just on rent pressure zones and undermining the 4% increase protections but also for the State in the context of long-term leases. As the Minister knows, such long-term leases are being signed on the basis of market rents. I know from documents released to me under the freedom of information process that those market rents, in some cases, were not subject to independent valuations. That matter must be tackled.

What has happened with housing or the renting process for students is part of a wider problem of housing and renting being turned into a financial commodity in this country. We have seen that through the privatisation of emergency accommodation for people who have lost their homes and with the long-term leasing of social housing. We see reports this morning of investment portfolios being advertised to investors based on the guaranteed 25-year long-term leases that the State is signing. Apartments are being bought up en masse by investment funds, which is driving up rents and the cost of housing, including for students. We also see the favourable tax treatment for these investment funds, poor regulation and high rents that are being propped up because when investment funds are not able to fill empty units and do not want to lower rents, they sign a long-term lease with the State. We have seen subsidies for developers through the shared equity scheme that the Government is seeking to introduce.

We need a referendum on the right to housing and, specifically, on the wording in that regard to be agreed by the Government so we can move forward with it. We need to remove most grounds for evictions, as we have seen in most other northern European countries. We must remove the possibility of people being evicted into homelessness, which will require a multipronged approach.

I met student representatives, including those from Aontas na Mac Léinn in Éirinn, the Union of Students in Ireland, earlier this year and was absolutely horrified by some of the real-life experiences and stories from some of the students who had been renting, including how they had been treated, been dehumanised and been exploited.

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It behoves all Members of the House to prevent that type of exploitation of students, who are often at a vulnerable stage in their development. It might be the first time students have moved out of home and it can be a daunting experience to come to college as a first year. Then one hears about some of the terrible treatment and the trauma and anguish caused to young students who are heavily exploited and treated in a terrible way because there are insufficient protections in place for them. They are put under mental health stress during what should have been a very positive time in their lives. That should remind all Members that it is important to have this issue urgently addressed.

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