Is é seo an suí deireanach den Dáil sula dtagann rialacha an Rialtais i bhfeidhm chun an cíos a ardú Dé Domhnaigh. I gceann cúpla lá, beidh cumhacht ag na tiarnaí talún móra an cíos a ardú go leibhéal an mhargaidh do thionóntaí nua. Díreach mar a dúirt Sinn Féin, tá na creach-chistí ag dul thart. Sa Teach seo inné, thug an Teachta McDonald le fios go raibh IRES REIT, an tiarna talún príobháideach is mó sa Stát, ag maíomh go hoscailte ina thuarascáil bhliantúil go ligfidh an dlí úr a thug an Rialtas isteach dó a chuid cíosanna a ardú suas le 25% ar léasanna nua. Tá an Rialtas anois ag brú tríd an ardú is mó cíosa atá feicthe againn riamh.
This is the final sitting of the Dáil before the Government's rent hike Bill rules come into force on Sunday. In a matter of days, landlords are going to be handed the power to increase rents to full market levels for new tenancies. Exactly as Sinn Féin warned, corporate landlords are preparing to cash in, and they are not hiding it. They are telling their shareholders that increased profits are coming because of decisions taken by the Tánaiste and the Government. Yesterday in the House, Teachta Mary Lou McDonald revealed that IRES REIT, the largest private landlord in the State, is openly outlining how the Government's legislation will allow it to significantly jack up rents. In comments reported on thejournal.ie, its chief executive stated, "Under these rules, every unit in our portfolio with the lease commencing after the 1st of March 2026 can be re-let at prevailing market rents once vacant." He described it as a "substantial" opportunity. He talked about it leading to "enhanced returns for the company and our shareholders". The company has projected a staggering, eye watering 25% increase in rents with minimal additional costs as a direct result of the Government's policy.
This is not a mere Opposition claim. This is the largest landlord in the State explaining plainly, in black and white, that the Government's rent hike Bill will allow it to raise rents and boost shareholder returns.
At the same time, the Residential Tenancies Board figures show that rents are already at record highs under this Government, and that tens of thousands of renters had to start new leases last year. Who are these people? They are ordinary people right across the State who, under the Government’s rules, would face rents being reset to full market levels. Behind each of those numbers and each of those statistics are real households who were forced to move maybe because of work, the sale of a property, family breakdown or landlords' decisions. Many of them are already stretched to their limits. The Tánaiste knows that 60,000 renters on average every year move into a new tenancy. Under the Government's rules, the landlord is going to be free to set the rent at whatever the market rate is even if that means a jump of 25% compared to what was paid before.
In the last sitting of this Dáil before these rules take effect, I am going to ask the Tánaiste directly, faced with clear evidence and with everything we know of who benefits and who pays, is the Government even at this late stage going to reverse course and stop these rent hikes before they inflict serious hardship on tens of thousands of renters across the State? How can the Tánaiste stand up, which I have no doubt he is going to do in the next few minutes, and justify a company - the biggest landlord in the State - in some cases renting a two-bedroom apartment not far from here for an eye-watering €3,200? How can he justify the biggest landlord in the State saying very clearly to the Government and its investors that the Government's legislation now allows it to increase rents by about 25% on average for new tenancies? How can the Tánaiste stand over that? How can he look renters in the face knowing the pressures they are under and say that he stands over that?
