The Housing Minister will bring legislation to Cabinet later this week to cap rent increases at 2%.
Landlords will only be able to raise rents by the rate of inflation or a maximum of 2%, whichever is lower.
🏘️ Housing Minister will bring plans to Cabinet on Thursday for an "absolute cap" on rent increases.
Linked to inflation and capped at 2%.
— Ben Finnegan (@_BenFinnegan) November 2, 2021
It's expected the legislation will be in place by the end of the year.
In addition, Minister Darragh O'Brien says they will also bring in a law on tenancy duration:
"At Cabinet this Thursday, I'll be bringing a further piece of legislation forward to bring an absolute cap on rents as well. It will be [linked to inflation] or 2% whichever is lower.
"Which I think is a significant change.
"Along with legislation to bring forward tenancies of indefinite duration."
