Upward only rent reviews to be banned

UPWARD only rent reviews are to be banned by the Cabinet within weeks in a bid to stop the haemorrhaging of retail jobs due to demands from greedy landlords.

More than 30,000 workers have been thrown onto the dole in the past three years because their employers couldn’t afford to keep paying rents that were being ratcheted-up in the recession, industry insiders estimate.

Ministers are set to radically revise the law before the Dáil rises later this month by endorsing new laws which will radically rebalance the relationship between commercial landlords and tenants.