Labour: Landlords hiking rents before NAMA

LANDLORDS are increasing commercial rent rates to make their properties appear more valuable before they enter the NAMA process, the Labour Party claimed.

Spokesperson on local government, Ciarán Lynch, claimed the Government’s plan to take over bad loans from banks is forcing shops and other businesses to pay higher rents instead of helping them by making credit more available.

The Labour Party is calling for a ban of upward-only rent reviews, which it said are leading to a number of shops and retailers going out of business and thousands of jobs being lost.