Sinn Féin spokesperson on Housing Eoin Ó Broin TD has accused Minister Darragh O’Brien of being directly responsible for large institutional landlords hitting tenants with multi-annual rent increases. 

The Dublin Mid-West TD’s comments were made after it was reported that leading institutional landlord Greystar was planning to increase its rents by up to 10%.

Teachta O’Broin said:

“Minister Darragh O’Brien is directly responsible for large institutional landlords hitting tenants with multi-annual rent increases. 

“When he introduced the 2% rent pressure zone cap, he also reintroduced a loophole allowing for landlords to roll annual rent increases into a single rent hike above the 2% cap. 

“This loophole was contained in the original RPZ legislation, removed by Darragh O’Brien in 2020, but reintroduced again last year.

“No tenant should have double digit rent increases. Landlords are not experiencing double digit increases in costs. 

“It is not acceptable that they would try to increase profits on the backs of tenants who are already struggling. Unfortunately, Darragh O’Brien is allowing this to happen.

“We told him that by reintroducing the 2% rent pressure zone cap, he would also be reintroducing the loophole allowing for multi-annual rent increases. 

“We warned him not to do this and tried to amend the legislation to remove this loophole.

“Unfortunately the Minister refused to listen and the loophole remains. 

“The Irish Independent has reported that one of the most profitable and high cost institutional landlords is planning to jack up rents in line with inflation. This from a company that pays no tax on their rent roll or capital gains. 

“This is totally unacceptable. It is also the Minister’s fault. He must act with urgency to address this matter.”