Oireachtas passes legislation to cap rent increases at 2% per year

Image: Shutterstock/Pompaem Gogh Image: Shutterstock/Pompaem Gogh A LAW TO cap rent increases at 2% in rent pressure zones has passed in the Dáil.The Residential Tenancies Bill also aims to provide for tenancies of unlimited as part of Government plans to create “a sustainable housing system” in Ireland.

Welcoming the passing of the legislation, Housing Minister Darragh O’Brien said: “This Bill’s swift passage through the Oireachtas demonstrates the Government’s commitment to improving the situation for renters in Ireland.❇️ Capping any rent increases in RPZs at the level of inflation or at 2%, whichever is lower

“At that time, inflation averaged 0.73% per annum over the previous three years but had risen to 1.6% per annum in the year ending June 2021.” O’Brien added that the legislation “respects the constitutionally protected property rights of landlords and aims to safeguard continued investment in the sector” by existing and new landlords to deliver rental accommodation.

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