The Government’s Strategy for the Rental Sector recognises that rapidly increasing rental inflation is the most significant challenge to security of tenure in the rental sector and that there is a need for a targeted, time-bound and transparent policy response to the issue of rising rents. To address this, the Government introduced the Rent Predictability Measure. This measure, which was provided for by the Planning and Development (Housing) and Residential Tenancies Act 2016, introduced the concept of Rent Pressure Zones (RPZs) to moderate the rate of rent increases in those areas of the country where rents are highest and rising quickly.
The Residential Tenancies (Amendment) Act 2019 was enacted on 24 May 2019 following extensive debate in the Houses of the Oireachtas. Given the ongoing housing and homelessness crisis, I have no plans to amend the expiry date of 31 December 2021 provided in the Act for Rent Pressure Zones to continue in force to provide rent predictability for tenants and landlords, alike, in the medium term.
The Housing Agency continues to monitor the rental market and may recommend further areas for designation as Rent Pressure Zones in accordance with the Residential Tenancies Acts 2004-2019.