Darragh O'Brien (Dublin Fingal, Fianna Fail) | Oireachtas source

I will be brief but I thank Senator Moynihan and her colleagues for tabling this amendment. In this Bill we are restricting the value of deposits to a maximum of two months' rent. This relates to a deposit equal to a month's rent and then a month of advance rent. Effectively, it has been capped absolutely at two months' rent. The deposit should be returnable and it remains the property of the tenant.

Work is ongoing on deposit protection, which is an area that is being looked at. There are complexities in the matter but it is not impossible. This is a significant change. I know where Senator Moynihan wants to get to and I appreciate what she has said. We are pretty much on the same page on this. There is a month of rent in advance and an amount equal to a month's rent as a deposit. It should be no more than this and this is the maximum amount. This was commonly spoken about during the Covid-19 pandemic.

This will also apply to student accommodation. There will be an opt-out if the student wishes to do that, such as for budgeting reasons. Some international students would pay for semesters in advance and this will allow that option. I have said in the Dáil that I will keep an eye on that in particular. The request came through from the university sector and it is reasonable for us to see how that works. I cannot accept the Senator's amendment but I understand that she will not be pressing it.

Amendment No. 12 is also in the group. I cannot accept this, which proposes to delete lines 18 to 22 on page 5. Section 5 of the Bill proposes to insert a new section 19B into the Residential Tenancies Act 2004, which provides in subsection (3) that notwithstanding the fact that tenants cannot now be required to pay more than a month's rent in advance, a tenant in student-specific accommodation may do this. I have explained why we are doing this and it is only on the basis that the tenant - the student in this case - has decided to do so. This provision aims to help any student who may wish to manage her or his finances by making a larger advance rent payment and providing certainty that his or her accommodation needs are secured for the desired period. It is purely up to the student. An operator of student-specific accommodation cannot seek a deposit of more than two months' rent. We have also changed the notice period to 28 days. That addresses both amendments.