Minister for Housing Darragh O’Brien said the Cabinet had approved stronger regulatory controls on the short-term letting of non-principal private residences in rent pressure zones .
Non-compliance with these provisions will be an offence for both the individual property owners concerned and the online platforms. It is understood the penalty for non-compliance will be a fine of €5,000 or six months in prison, or both. Fines of €1,500 per day would also apply if a property continues to be advertised after the initial conviction.
Announcing his plans, Mr O’Brien said the move would ease pressure on the rental market. “We know that significant numbers of properties have been withdrawn from the long-term rental market in recent years and diverted for use as short-term lettings, negatively impacting on the supply and availability of private residential rental accommodation with associated knock-on implications for rental prices,” he said.