Shrink private rental sector and increase social housing, says Sinn Féin

The Dublin Mid-West TD also calls for a three-year ban on rent increases across the country

Sinn Féin spokesperson on Housing, Eoin Ó Broin, said there has been a massive increase in private rental properties in the last two decades. File photo: Gareth Chaney/ Collins Photos

The existing private rental sector needs to shrink and more people need to live in social housing, Sinn Féin’s housing spokesperson Eoin Ó Broin has said.

As part of their submission to the Government’s review of the private rental sector, Mr Ó Broin says that the sector has “grown too fast and too large” in recent decades.

The review itself is to examine the regulatory changes within the rental market and is due to reach conclusions on how to best enhance the housing system to ensure it is affordable, viable and safe for tenants and landlords.

The Dublin Mid-West TD said there has been a massive increase in private rental properties in the last two decades, up from around 80,000 in 2005 to over 300,000 in 2016.

“The problem is because of bad government policy, too many people who don't want to be living in the private rental sector and shouldn't be living in the private rental sector are being funneled in there,” Mr Ó Broin said.

“A third of all private renters should be in social housing, they’re currently being subsidized by HAP (Housing Assistance Payment), RAS (Rental Accommodation Scheme) or rent supplement to the tune of €1bn annually.” 

Mr Ó Broin said people availing of rent subsidies from the State should be supported in social housing, rather than being forced into the private rental sector.

Within their submission, Mr Ó Broin calls for a three-year ban on rent increases across the country as well as a refundable tax credit that would give tenants a month’s rent back. 

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The submission also repeats the party’s call for a restoration of the no-fault eviction ban, until homelessness begins to fall.

Asked if Sinn Féin would support any moves by the Government to change the tax treatment of landlords in the Budget, Mr Ó Broin said that the party would not.

“Sinn Féin, having looked at the issue of a lower rate of income tax for single property landlords, for quite some time, is absolutely convinced it will not stop the exit of single property landlords for the private rental sector, it will cost huge amounts of money,” Mr Ó Broin said.

“It will create untold issues with other categories of workers, who will be asking, ‘Well, why am I paying a higher rate of income tax than this other group of income tax earners?’, when in many cases those full-time PAYE employees are working much harder for every euro they earn than part-time landlords.”