News & Events
Peter McVerry Trust has urged the Government to move immediately to protect tenants in the private rental market. The charity made the call following the publication of the latest Consumer Price Index by the CSO today which revealed the largest monthly increase in private rents on record.
Pat Doyle, CEO of Peter McVerry Trust, said “The 1.9% month on month increase is the largest monthly increase on record, a record that goes back to January 2003. We know that in many areas rents are now at record levels and tenants are under enormous financial pressure. In order to protect tenants at risk of losing their homes, we now need immediate rent regulation.”
“If rents continue to rise, a tenant’s security of tenure is automatically reduced as their ability to pay their rent is eroded month by month. The private rental market is already a major source of new cases of homelessness because of rising rents. Further large and regular increases will inevitably lead to more working people being pushed out of the rental market and into homelessness.”
Concluding Mr Doyle said “Rising rents also pose a major challenge to the HAP scheme and its tenancy target. As rents rise in an unrestricted manner the Government will be left with the choice of increasing HAP payments to keep track of rising rents, a move that would have a major impact on current spending. If they do not increase HAP levels and rents continue to increase at their current rates their tenancy targets are unlikely to be achieved.”
Francis Doherty – Head of Communications – 087 9421 051
Nyle Lennon – Communications Officer – 087 9073 693