Fianna Fáil TD Robert Troy has resigned from his role as Minister of State at the Department of Enterprise, Trade and Employment.
It comes amid calls for the Dáil Committee on Parliamentary Privileges and Oversight to investigate matters related to Mr Troy's property interests.
In a statement, Mr Troy said the last ten days have been "extremely difficult".
The TD once again reiterated that he has not tried to conceal anything, and his biggest offence is his "lack of due diligence".
"One issue in isolation is excusable but the number of errors now that are of my making directly or indirectly has led me to this decision," the statement read.
The TD apologised for the upheaval caused by this controversy which he said has distracted from the "serious issues at hand in this country" and the "good work this Government is doing, particularly in housing".
However, Mr Troy said he wanted to stress the errors he made were "genuine errors and human errors and were not intentional".
"I hold myself to a high standard and that is the reason I have taken this decision of my own counsel," he said.
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In the statement, Mr Troy thanked the Taoiseach, the Tánaiste, and the large number of colleagues "across the political divide who have shown their support in recent days".
He also re-affirmed that he is more than happy to answer any questions the Standards in Public Office Commission or the Residential Tenancies Board have and he will give a full account in the Dáil, if required.
The Longford-Westmeath TD said he will not apologise for being a landlord and while he is acutely aware of the sensitives of the housing situation in Ireland, "vilifying landlords is not the answer, and it will not help the problem".
"While I accept my mistakes, I would like to state that the narrative being put forward by some media and some in the opposition that landlords are villains is simply wrong," he said.
"I personally will not apologise for being a landlord. I bought my first house at the age of 20 as I went straight into a job after school, so I was in a position to purchase my first property then. I am not a person of privilege and I have not been brought up with a silver spoon in my mouth, I have worked for all I have," the statement read.
Concluding a three-page statement, he said he would like to assure his constituents and supporters that he will continue to work as he always has as a TD.
A spokesperson for Taoiseach Micheál Martin said he had accepted the resignation with regret.
Mr Troy's "commitment to his constituents and dedication to his work has been beyond question", the spokesperson said.
Responding to the news of Minister Troy's resignation Tánaiste Leo Varadkar said Mr Troy "has left a lasting legacy in the Department, making a difference to thousands of businesses across the country".
"His willingness to co-operate with any SIPO inquiry is welcome," Mr Varadkar said.
"He should be afforded due process in respect of that. He acknowledged, accepted and apologised for the errors and omissions he made in his statutory declaration."
Sinn Féin leader Mary Lou McDonald said both the Taoiseach and the Tánaiste have questions to answer on their "judgement".
She said: "This week the nature of the current coalition government, and in particular their failed approach to housing, was laid bare for all to see."
Commenting following the resignation of Mr Troy, Mary Lou McDonald said that as each day passed, further revelations about Mr Troy's behaviour as a landlord came into the public domain.
"Throughout this period both the Taoiseach and the Tánaiste offered their full support describing Robert Troy as a 'first class Minister'.
"Indeed earlier today the Tánaiste was still continuing to fight to maintain Mr Troy's position in Government," she said.
"Tonight’s inevitable announcement from Robert Troy casts very serious questions on their judgement and those are questions that will not go away as a result of this action," she added.
The Social Democrats climate spokesperson Jennifer Whitmore said there are questions about the Taoiseach's "judgement of character" in relation to the ongoing controversy.
"I think it's extraordinary that we have the leader of one of the coalition government parties calling for not one but two investigations into a Fianna Fáil minister," she said.
Earlier, Labour leader Ivana Bacik said Mr Troy's errors in declaring his property interests show a disregard for the mechanisms in place to prevent corruption.
Speaking on RTÉ's Morning Ireland, she said at best "his catalogue of omissions, the failures to declare, and so on disclose a real disregard, a careless disregard" for the mechanisms introduced to prevent corruption.
Yesterday Mr Troy said he was "very happy" to address the Dáil to answer questions on the matter.
Speaking on RTÉ's News at One, Mr Troy said he was "embarrassed" that he "got it wrong" and wanted to take "full responsibility" for errors he made in declaring his property interests.
It is understood that early legal advice provided to the Ceann Comhairle Seán Ó Fearghaíl has indicated that it would be unwise for the committee to investigate matters related to Mr Troy while a statutory process is under way.
SIPO is currently considering two complaints made by People Before Profit TD Paul Murphy.
The legal advice to the Ceann Comhairle indicated that an investigation by a committee of the house on Mr Troy could undermine the SIPO process.
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Green Party leader Eamon Ryan said earlier that Mr Troy should be the subject of "a full investigation" by the committee on Parliamentary Privileges and Oversight prior to the resumption of the Dáil.
The Minister for the Environment added that this should be done in tandem with an investigation by SIPO.
"It's very disappointing. He admitted himself, his significant errors in the declaration and registration of his property interests. That does undermine confidence in the political system," the minister said.
No requirement for fire cert, Troy claims
Mr Troy has said that there was no requirement for a fire safety certificate for a property he co-owns at 25a Rathdown Road in Dublin.
The property underwent renovation works in 2015, when the layout was changed from seven residential units to four.
However, in a statement provided to RTÉ News, Mr Troy said he received expert advice that the property did not require a fire safety certificate due to the nature of the works.
He also said that he was advised that the "building pre-dated the Local Government (Planning and Development) Act 1963 and pre-dated the Building Control Act 1990 and Building Control Regulation 1991".
This statement followed confirmation from Dublin City Council yesterday that there is currently no "fire safety certificate on the register" for 25a Rathdown Road, Dublin 7.
According to Dublin City Council "an owner who materially alters a building must apply for a fire safety certificate and the application is generally made on their behalf by their technical advisor, such as their engineer, architect or building surveyor or fire safety consultant".
However, in his statement, Mr Troy said that "the advice was as there was no 'material change' nor 'material change of use' as a result of the renovations carried out, an application for a fire safety certificate was not required under Building Regulations, however, all works were completed to the relevant fire safety regulations including the addition of a fire escape as part of these fire safety measures".
DCC issued complaint over new fire escape
Separately, DCC investigated a complaint in 2015 "relating to the subdivision of 25a Rathdown Road and the provision of a new external fire escape stairs."
DCC confirmed that the complaint had been investigated but said that the file on that matter had been closed.
It said that permission to retain the fire escape was filed after the complaint was made and was granted in September 2016, and as a result the fire escape "is now authorised".
In relation to the change of properties layout and whether this required planning permission, DCC said that "as the property concerned was not a protected structure the Planning Enforcement Section deemed that the reduction in the number of residential units and renovation of the property did not warrant enforcement action."
Addressing a query in relation to that closed investigation, Mr Troy told RTÉ that "Dublin City Council advised no planning was required for 25a Rathdown Road apart from the planning we obtained for the fire escape. Dublin City Council inspected this property in 2015 and in 2016 and issued a report in September 2016 which recommended no further action was required.
Mr Troy also reiterated his "willingness to engage with SIPO, RTB or Dáil Committee as suggested by Minister Ryan", following the Green Party leader's comments.
Additional reporting Tommy Meskill, Laura Fletcher
