Dáil Éireann Debate, Tuesday - 28 September 2021
126. Deputy Cian O'Callaghan asked the Minister for Housing, Local Government and Heritage the reason the introduction of the deposit protection scheme for renters which was legislated for in 2015 has been postponed to 2023; and if he will make a statement on the matter. [46096/21]
View answerHousing for All – a new Housing Plan for Ireland includes an action to examine the creation of a system of holding rental deposits, informed by international experience, by Q2 2023. This timeline was chosen to afford time for necessary research and policy formulation, in consultation with the Residential Tenancies Board.
Section 7 of the Residential Tenancies (No. 2) Act 2021 inserts a new section 19B into the Residential Tenancies Act 2004 which applies to tenancies created on or after 9 August 2021, to restrict the total amount that a tenant is required to pay to a landlord by way of a deposit or an advance rent payment to secure a tenancy to no more than the equivalent of 2 months’ rent (i.e. any deposit cannot exceed 1 month’s rent and any advance rent payment cannot exceed 1 month’s rent). A restriction of the equivalent of 1 month’s rent is also placed on the amount that a tenant is obliged to pay as a regular advance rent payment to a landlord during a tenancy. These measures are intended to greatly reduce any financial exposure to tenants, on foot of paying such restricted upfront payments.
