Introduction
Ireland’s private rented sector is not working for private renters or recipients of State housing payments. According to the Daft.ie quarter 1 2017 Rental Report, the average nationwide rent now stands at €1,131 per month, up 52% since 2012. Property availability within the private rented sector has plummeted to match record lows with fewer than 3,100 properties available to rent nationwide on the 1st of May 2017, a significant drop of 82% since 2012.1 The Residential Tenancies Board (RTB) quarter 1 2017 rent index shows that the average national standardised rent is €987 per month, a 7% increase on the same quarter a year previously.2 These market pressures are compounded by the continuing overreliance on the private rented sector for the delivery of affordable housing through the Housing Assistance Payment (HAP) and Rent Supplement (RS) schemes. As rents spiral upwards and supply falls, these vital payments are becoming increasingly ineffectual leaving recipients locked out of a crowded and increasingly competitive market, increasing their risk of entering or re-entering homelessness. This submission will firstly examine the rent predictability measure as introduced in December 2016 and the designation criteria to qualify as a Rent Pressure Zone (RPZ). This will be followed by an examination of the allowable rent increases within RPZ’s and the need for greater rent certainty across the private rented sector. The need to increase security of tenure and the associated links with rent price control will then be explored. This will be followed by an examination of some of the unintended consequences of the Rent Predictability measure. To close, this submission will examine the current over-reliance on the private rented sector for the delivery of social housing tenancies and the ongoing need for the strategic delivery of affordable housing options for those with the greatest housing need.
