The Residential Tenancies Bill has passed its final stage in the Seanad.
The bill will now be sent to President Catherine Connolly for signing into law, before coming into effect on 1 March.
It was strongly opposed at all stages by the Opposition, as was the speed of its journey through the Oireachtas, despite Government claims that the legislation will ease the housing crisis by balancing enhanced protections for renters with incentives to grow the rental supply.
Sinn Féin Senator Chris Andrews said "right across inner-city Dublin" locals are being priced out of neighbourhoods they have lived in for generations, leaving children "stuck with their parents" in overcrowded conditions.
The senator said that two-bed apartments on the Glass Bottle site in Ringsend "are going for €1 million", while the rent on a modest one-bed he viewed is €2,500 a month.
This would require the salary of two senators, and "senators' salaries aren't too shabby", he said, adding that it is out of the reach of gardaí and teachers.
"For me that's insane," Mr Andrews said.
He accused the Government of "slapping themselves on the back" while families struggle, and of failing to provide legislation that will get to grips with the crisis.
Independent Senator Alice-Mary Higgins criticised the Government for rejecting all amendments which had been tabled, as it had in the Dáil.
There were 27 Seanad amendments and 69 tabled in the Dáil.
She pointed to "reasonable requests" the Opposition had made, including a review of the act in two years.
Given the Government's failure in this area, some humility and a willingness to review its performance are warranted, she said.
The senator said local authorities "were forced" to sign long-term leases for accommodation after the economic crash - rather than buying properties - and criticised the Government for now blaming them for having done so, rather than taking responsibility itself.
Minister for Housing James Browne defended the bill, claiming that "sooner rather than later" supply will increase and rents fall as a result of the legislation.
He criticised the Opposition for voting against the introduction of unprecedented security of tenure for tenants.
"At the moment there's little or nothing to stop landlords issuing eviction notices" which drive homelessness, Mr Browne said.
The protective measures in the bill are "extraordinary", he added, a term he also used to describe the Opposition's decision to reject them.
'Even two solid basic incomes are no longer enough' to buy home, Dáil told
In the Dáil, Sinn Fein called on Government to clarify how high house prices have to rise "before you realise your policies are no longer working" in response to reports of ongoing property price rises.
Speaking during leaders questions, and just a day after the Central Statistics Office said the median house price in Dublin is now half a million euro, Sinn Fein's finance spokesperson Pearse Doherty said the price rises must be addressed.
Deputy Doherty said anyone now trying to buy a "typical home" in Dublin must have income of between €100,000 and €130,000, saying "in some parts of this city you need €150,000 to buy a home".
The opposition TD said that for many people "even two solid basic incomes are no longer enough", adding that in his view "the market has spiralled completely beyond" the reach of large swathes of the population.
Deputy Doherty said young people in particular are now being "locked out" of the property market, before asking Tánaiste and Minister for Finance Simon Harris: "How high do house prices have to rise before you realise your policies are no longer working. is it €600,000 is it €700,000?"
Responding to the criticism, the Fine Gael leader said that while "we all know house prices are too high for too many", Government is making significant attempts to address the situation - naming the First Home Scheme and the First Time Buyer's Scheme.
While stressing "not to take away" from the situation, he continued that while the CSO figures are accurate, it is important to note that a median price is not the same as a medium price, and that "many homes" can be found in Dublin for under €500,000.
The Tánaiste said he believes it is also important to note that almost 40% of homes purchased are by "the new buyers you mentioned", and that the number of first time buyers is also on the rise.
He said that "while this is a continuing housing emergency", home completions reached their highest level since 2011 last year.
Approval for modular units in back gardens expected by summer
Minister of State John Cummins has told the Dáil that he hopes to have in place approval for modular units at the back of houses by the summer.
He told Michael Fitzmaurice, Independent Ireland TD, that the measure, which would allow 'granny flats', does not need legislation and is being finalised.
"It's regulation. It has to go before the Joint Oireachtas committee which I expect to be able to do after Easter. We'll get there as soon as we can.
"Will it be in for the summer?" Deputy Fitzmaurice asked.
"That's the aim, deputy," the minister replied.
