Latest news with #rentpressurezones
Irish Times
6 hours ago
- Business
- Irish Times
Landlords could face stiffer fines for breaking rent rules
The Government is considering higher fines for landlords who breach rental rules in the wake of cabinet approving plans to overhaul the sector. Government on Tuesday agreed to extend Rent Pressure Zones (RPZs) across the country while also allowing higher rent increases in new-build apartments. Minister for Housing James Browne said the level of fines was being looked at to see 'how much can we increase those fines'. However, he was not yet able to say what level the higher fines might come in at. There was a level after which it would be more appropriate for the courts to impose a fine, he said, rather than the Residential Tenancies Board (RTB) which is to be responsible for policing the new regime. READ MORE Briefing reporters after Cabinet on Tuesday, Mr Browne was unable to offer a specific timeline on when he believed rents would come down, saying it would only happen after increased supply and investment which he believed would follow from the reforms agreed. He would only say he expected rents to fall over time. 'What that particular length of time is, I wouldn't be able to predict,' he said. The new rules will allow rents in new build apartments to be raised above the current limit of 2 per cent after six years, while also ending 'no fault evictions' for landlords with four or more tenancies. Under the new rules, the circumstances where a smaller landlord can evict someone in order to move in a family member will be tightened. A restriction will be introduced on an eviction being allowed only when an immediate family member needs the accommodation, or when the landlord is facing bankruptcy, insolvency or 'some other particular hardship'. If a landlord exercises their right to break a tenancy, they will not be allowed to reset the rent, Mr Browne said - meaning there would not be an economic incentive to engineer an eviction. All landlords will be able to sell a property with the tenant remaining in situ at any time. Landlords will not be allowed to reset rents during tenancies created before the end of next February. The Minister also said there would be further funding and support for the RTB which will be tasked with enforcing the rules. 'The Government wishes to put the sector on notice today that from the 1st of March 2026, stronger tenant protections will apply,' he said. From next March larger landlords - classified as those having four or more tenancies – will not be able to put a 'no fault' eviction in place. Mr Browne said tenancies will be for an unlimited time, with a 'minimum duration' of six years, which he said would be a 'real leap forward' for tenant protections. Under the reforms, only new build apartments will be able to increase rents by more than 2 per cent currently allowed under the Rent Pressure Zone legislation. This will be limited to increases equivalent to the rate of inflation at the time. That will only apply to apartments being commenced from today, so it will be several years before these units come to the market. 'The changes I'm making today will have a significant impact for our rental sector, making much needed investment more attractive while strengthening the protections and providing greater certainty for renters,' he said. He said there was a 'fine balance' to be struck as the State aims to attract investment in the apartment building sector while ensuring fair treatment for tenants. Mr Browne is promising a suite of further measures, including planning extensions and planning exemptions in the coming weeks. 'This is not being presented as a silver bullet. This is to strike a balance, to bring clarity and to bring certainty,' he said. 'Without all of these things we cannot ramp up the supply needed, and I'm determined and ambitious to get this right.'
Irish Times
10 hours ago
- Business
- Irish Times
Government focuses on tenants over landlords in rent crisis moves
It's been almost a decade since rent pressure zones (RPZs) were introduced to curb sharp spikes in rent and cap increases at 2 per cent or the rate of inflation, whichever is the lower. Initially they were confined to Dublin and other big cities but have since been extended across the State, to 24 of the 31 councils, and 111 of the 166 local electoral areas. Castlebar, Co Mayo, and Tullow, Co Carlow, were the latest to be added to the list in May. After a three-hour-long meeting of leaders last night, it was decided that a proposal be put at Cabinet today that RPZs would be extended to the whole country. READ MORE As well as Taoiseach Micheál Martin and Tánaiste Simon Harris , the meeting was attended by Minister for Housing James Browne, Minister for Finance Paschal Donohoe and Minister for Public Expenditure Jack Chambers. Pat Leahy reports it was also confirmed that landlords would not be allowed to reset rent between tenancies, unless tenants have left voluntarily or have breached the tenancy agreement. In other words, a notice to quit will not be sufficient to allow a rent review. As the report states : 'Housing advocates had warned the Government that allowing landlords to reset the rent between tenancies would result in many tenancies being terminated by the landlords in order to increase the rents.' The import is that the extension of the RPZs plus the new clause on rent review will be seen to favour tenants rather than landlords. For the first time also, landlords will be classified according the number of properties owned. At present, all landlords are treated the same regardless of how many properties they own. Now, smaller landlords will be categorised as such if they own three properties or less. Here is Pat Leahy's analysis of the proposed changes. 'Modest' increases in local property tax from 2026 There is also another big property-related article in The Irish Times this morning setting out the expected increases in local property tax (LPT) from next year. There has been an increase of over 20 per cent in property prices since 2021, the last time changes to LPT were made. The report has a preview of a memo Minister for Finance Paschal Donohoe is expected to bring to Cabinet this morning: 'Fearing substantial hikes in tax bills, the Government is expected to change the way the tax is calculated in advance of the next date for revaluation on November 1st of this year.' The implications are that houses valued at under €240,000 will see their LPT bill increase by only €5 a year. Properties valued between €420,000 and €525,000 will see increases of €23, still relatively modest. At the top tier there will be more substantial hikes. Those with properties valued between €1.995 million and €2.1 million will pay an extra €389 a year. Israel war bonds to be debated again in Dáil The last week in May in the Dáil was dominated by an intense debate over the role played by the Central Bank in authorising for the European markets bonds that have been issued by the state of Israel. The Government has argued it is a technical process that has fallen on our Central Bank to do for Europe and that Ireland has never bought bonds. The Opposition has said the bonds are war bonds and the State or its institutions should have no part whatsoever in dealing with the bonds. A Sinn Féin Private Members' Bill to effectively stop the Central Bank from dealing with them was defeated in the Dáil, but not before two Government TDs, Barry Heneghan and Gillian Toole, voted with the Opposition. Now, after the week's recess, the same issue is being debated in the Dáil this week, on foot of a Private Members' motion being tabled by the Social Democrats. The four big Opposition parties have combined again to back it and held a press conference on the plinth. Part of the strategy is to put more pressure on Government backbenchers to abstain or vote against an issue where not all are comfortable with the Coalition's position. There are more details of the motion here . Best Reads Fintan O'Toole focuses on a statistic that shows that some students sitting State exams this week went to bed hungry last night . We should be mortified, he writes. Eoin Burke-Kennedy writes that the Irish Fiscal Advisory Council has predicted another surge in corporation tax. Joe Humphreys's great Unthinkable column asks should we be quite so smug about Trump's tariffs? Playbook The Cabinet meets this morning with a big agenda, including Government concern over what retaliatory tariffs the EU will impose on the US; almost 500 new places in higher education to address key shortages of health and social care professionals; a new incentive scheme to retain air traffic controllers in the Air Corps; and a new antiterrorism Bill. Full details are to be found in this preview of the meeting . Dáil 14:00: Leaders' Questions 14:34: Order of Business 15:04: Bills for Introduction: Taxes Consolidation (Rights of Performers and Film Workers) (Amendment) Bill 2025 – First Stage 15:10: Taoiseach's Questions 15:55: Government Business: Statements on Housing 19:27: Private Members' Business (Sinn Féin): Motion re Urgent action on vacant Council Housing 21:27: Parliamentary Questions: Oral – Minister for Environment, Climate and Communications Darragh O'Brien 00:03: Dáil adjourns Seanad 14:30: Commencement Matters 15:30: Order of Business 16:30: Government Business: Statements on Breast Cancer Services 18:45: Private Members' Business: Motion re Insurance Reform 20:45: Seanad adjourns Committees 11.30: Artificial Intelligence Research Ireland: Introduction to Artificial Intelligence 12.05: Comhchoiste na Gaeilge An Plean Náisiúnta um Sheirbhísí Poiblí Gaeilge 2024-2030 15.00: Housing Discussion on the Report of Housing Commission 15.00: Justice Engagement on Policing Matters 18.00: Arts, Media, Communications Prelegislative Scrutiny of revised General Scheme of the Broadcasting (Amendment) Bill
Irish Times
11 hours ago
- Business
- Irish Times
Rent pressure zones set to be extended across entire country
It's been almost a decade since rent pressure zones (RPZs) were introduced to curb sharp spikes in rent and cap increases at 2 per cent or the rate of inflation, whichever is the lower. Initially they were confined to Dublin and other big cities but have since been extended across the State, to 24 of the 31 councils, and 111 of the 166 local electoral areas. Castlebar, Co Mayo, and Tullow, Co Carlow, were the latest to be added to the list in May. After a three-hour-long meeting of leaders last night, it was decided that a proposal be put at Cabinet today that RPZs would be extended to the whole country. READ MORE As well as Taoiseach Micheál Martin and Tánaiste Simon Harris , the meeting was attended by Minister for Housing James Browne, Minister for Finance Paschal Donohoe and Minister for Public Expenditure Jack Chambers. Pat Leahy reports it was also confirmed that landlords would not be allowed to reset rent between tenancies, unless tenants have left voluntarily or have breached the tenancy agreement. In other words, a notice to quit will not be sufficient to allow a rent review. As the report states : 'Housing advocates had warned the Government that allowing landlords to reset the rent between tenancies would result in many tenancies being terminated by the landlords in order to increase the rents.' The import is that the extension of the RPZs plus the new clause on rent review will be seen to favour tenants rather than landlords. For the first time also, landlords will be classified according the number of properties owned. At present, all landlords are treated the same regardless of how many properties they own. Now, smaller landlords will be categorised as such if they own three properties or less. Here is Pat Leahy's analysis of the proposed changes. 'Modest' increases in local property tax from 2026 There is also another big property-related article in The Irish Times this morning setting out the expected increases in local property tax (LPT) from next year. There has been an increase of over 20 per cent in property prices since 2021, the last time changes to LPT were made. The report has a preview of a memo Minister for Finance Paschal Donohoe is expected to bring to Cabinet this morning: 'Fearing substantial hikes in tax bills, the Government is expected to change the way the tax is calculated in advance of the next date for revaluation on November 1st of this year.' The implications are that houses valued at under €240,000 will see their LPT bill increase by only €5 a year. Properties valued between €420,000 and €525,000 will see increases of €23, still relatively modest. At the top tier there will be more substantial hikes. Those with properties valued between €1.995 million and €2.1 million will pay an extra €389 a year. Israel war bonds to be debated again in Dáil The last week in May in the Dáil was dominated by an intense debate over the role played by the Central Bank in authorising for the European markets bonds that have been issued by the state of Israel. The Government has argued it is a technical process that has fallen on our Central Bank to do for Europe and that Ireland has never bought bonds. The Opposition has said the bonds are war bonds and the State or its institutions should have no part whatsoever in dealing with the bonds. A Sinn Féin Private Members' Bill to effectively stop the Central Bank from dealing with them was defeated in the Dáil, but not before two Government TDs, Barry Heneghan and Gillian Toole, voted with the Opposition. Now, after the week's recess, the same issue is being debated in the Dáil this week, on foot of a Private Members' motion being tabled by the Social Democrats. The four big Opposition parties have combined again to back it and held a press conference on the plinth. Part of the strategy is to put more pressure on Government backbenchers to abstain or vote against an issue where not all are comfortable with the Coalition's position. There are more details of the motion here . Best Reads Fintan O'Toole focuses on a statistic that shows that some students sitting State exams this week went to bed hungry last night . We should be mortified, he writes. Eoin Burke-Kennedy writes that the Irish Fiscal Advisory Council has predicted another surge in corporation tax. Joe Humphreys's great Unthinkable column asks should we be quite so smug about Trump's tariffs? Playbook The Cabinet meets this morning with a big agenda, including Government concern over what retaliatory tariffs the EU will impose on the US; almost 500 new places in higher education to address key shortages of health and social care professionals; a new incentive scheme to retain air traffic controllers in the Air Corps; and a new antiterrorism Bill. Full details are to be found in this preview of the meeting . Dáil 14:00: Leaders' Questions 14:34: Order of Business 15:04: Bills for Introduction: Taxes Consolidation (Rights of Performers and Film Workers) (Amendment) Bill 2025 – First Stage 15:10: Taoiseach's Questions 15:55: Government Business: Statements on Housing 19:27: Private Members' Business (Sinn Féin): Motion re Urgent action on vacant Council Housing 21:27: Parliamentary Questions: Oral – Minister for Environment, Climate and Communications Darragh O'Brien 00:03: Dáil adjourns Seanad 14:30: Commencement Matters 15:30: Order of Business 16:30: Government Business: Statements on Breast Cancer Services 18:45: Private Members' Business: Motion re Insurance Reform 20:45: Seanad adjourns Committees 11.30: Artificial Intelligence Research Ireland: Introduction to Artificial Intelligence 12.05: Comhchoiste na Gaeilge An Plean Náisiúnta um Sheirbhísí Poiblí Gaeilge 2024-2030 15.00: Housing Discussion on the Report of Housing Commission 15.00: Justice Engagement on Policing Matters 18.00: Arts, Media, Communications Prelegislative Scrutiny of revised General Scheme of the Broadcasting (Amendment) Bill
BreakingNews.ie
6 days ago
- Business
- BreakingNews.ie
Rent pressure zones decision due within a week, says Taoiseach
A Government decision on rent pressure zones is expected within the next week, the Taoiseach has said. The coalition has been criticised amid concern it will scrap the rent protections at the end of the year. Advertisement Rent pressure zones (RPZs) were introduced in 2016 to help control spiralling increases for tenants. The regulations, which apply to certain designated areas of high demand, are due to expire on December 31st. Maximum market rent increases in RPZs are tied to either a cap of 2 per cent or inflation, whichever is lower. The Government is yet to formally announce details of an alternative scheme to replace RPZs. Advertisement It comes after the publication of the Housing Commission report last year, which said the Government should regulate market rents fairly and effectively by reforming current regulations and establishing 'reference rents'. This would replace RPZs with a system that pegs rent to local dwellings of a similar quality. Asked on Wednesday when a decision on the future of RPZs would be made, Micheál Martin told reporters: 'I would expect sometime in the next week.' Ireland Taoiseach launches expansion of Wage Subsidy Schem... Read More The Taoiseach said the decision will be part of a number of steps towards increasing housing supply, including attracting institutional investors to the sector. Advertisement 'There'll be further measures taken next week in relation to housing,' he said. 'It's not any one measure that is a silver bullet. It's the cumulative impact of all of them that will lead to an increase and an acceleration of timelines around getting housing units complete.'
