The Residential Tenancies Board have called for a strategy to be developed for the future of the rental sector.
They say it will not fix the issues overnight but needs to be established to give security to tenants.
Members of the board appeared before the Housing and Homelessness committee earlier.
Rosalind Carroll from the RTB says renters need to feel some security in their tenancy.
"A strategy specifically for the rental sector will not magically solve the much wider supply pressures experienced in all sectors of the market, but it is critical to bring certainty to tenants and landlords in the long-term future of the sector.
"Investors need certainty but so do the tenants on issues such as security of tenure and rent regulation."