Seanad debates

Wednesday, 15 May 2019

Residential Tenancies (Amendment) (No. 2) Bill 2018: Committee Stage

 

10:30 am

Photo of Eoghan MurphyEoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

On section 9, obviously, people who are paying close attention to this, as all Senators present are, understand that the first designated rent pressure zones in Dublin and Cork were due to expire at the end of this year. Rather than waiting until the last minute to extend them, given the unforeseen delays which can occur in these Houses, as was discussed earlier, it is better to extend them now until 2021. It is interesting that the idea of rent controls or rent caps was unthinkable four years ago. Three years ago, we brought them in. We are now extending and improving them, which is a very important measure in the Bill. Tenants, landlords and those investing in the area for the first time will have certainty that we have these rent caps until 2021 at least. That will happen now regardless of when a designation was made for a rent pressure zone. Obviously, under the new qualifying criteria and in light of the high inflation in areas outside of Dublin, we expect that more areas will come into RPZs and they will all continue in operation until the end of 2021 at least.

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