FIANNA FÁIL TD Chris Andrews has called on the Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan to intervene in what he described as the “rental crisis” facing retailers.
A legislative framework should be put in place to force property owners to “engage constructively” with their leaseholders, rather than keep rents “artificially high”, according to Mr Andrews.
“The drastic change in Ireland’s economy in the past 18 months means that old leases drawn up in boom years are no longer realistic,” he said. “Retailers are telling me the biggest problem they face is the refusal of landlords to even discuss the realities of the current commercial rental market. In some cases, people are locked into leases of up to 25 years with nowhere to turn if property owners refuse to negotiate.”
The ban on upward-only rent reviews comes into effect on February 28th, but this applies only to new leases.
“These are extraordinary times, and landlords have to be willing to facilitate viable businesses; if they are not, the Government must intervene,” Mr Andrews said, adding that he intended to raise the matter at this week’s Fianna Fáil parliamentary party meeting.
