Ivana Bacik (Dublin Bay South, Labour) | Oireachtas source

Since this Government took office, rents have increased by 15%. Media reports last weekend showed that a legislative loophole in rent pressure zone laws has enabled cuckoo funds to contribute to this problem, charging exorbitant rents, for example, €2,140 per month for a one-bed apartment and up to €5,220 per month for a three-bed.

Until the Government reins these funds in, it is difficult to see the situation resolving itself. While we are due to rise for the summer recess this week, struggling renters cannot afford to wait. Will the Government bring forward legislation to close this loophole and ensure some measures are taken to address the power of cuckoo funds in the market?

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