The housing minister has described the reformed rent regulations as 'well-balanced' and 'reasonable', as the government prepares to eliminate the 2% cap on rent increases for new tenancies. The proposal aims to bring rents for existing tenants across the country under control through the Rent Pressure Zone (RPZ) system currently in place.

However, under the new plans, the 2% rent cap will not apply to apartments constructed after a specific date, with the government hoping this will spur private sector apartment construction. Landlords will also have the ability to raise rents when tenants vacate voluntarily.

If a tenant receives a notice to quit, the landlord cannot reset the rent, eliminating any financial incentive for landlords to evict tenants. The minister emphasized the importance of balancing renter protection with attracting investment, stating that the goal is to safeguard renters' rights.

According to a government source, tenancy protections will be introduced, with a focus on safeguarding renters. New tenancies may face higher rents but will benefit from a six-year security of tenure. The expansion of RPZs is just one part of a comprehensive package set to be rolled out soon.

Homelessness in April hit a new high, with 4,675 children accessing emergency accommodation. While the figures do not include rough sleepers, refugees, asylum seekers, or individuals experiencing 'hidden homelessness', the minister stressed the need for increased housing supply to address the crisis.

Opposition parties have called for a ban on no-fault evictions to be reinstated. Despite criticism from experts and homelessness charities, the minister remains confident in the effectiveness of his plan, emphasizing the focus on boosting housing supply.

Next week, the Raise the Roof campaign group will stage a demonstration outside Leinster House to protest the government's housing policies. The event will coincide with a private members' bill advocating for urgent action on the housing crisis.