Archives for Rent Pressure Zone

All About Rent Pressure Zones

Landlords must follow certain procedures if they want to review the rent. The rules are set out in the Residential Tenancies Act. Breaching Rent Pressure Zone legislation may lead to a criminal conviction. Regardless of the level of rent, even if it is substantially below market rent, you must comply with the legislation. Rent Pressure Zone rules also apply to a new purchaser buying a property. What is a Rent Pressure Zone (RPZ)? A Rent Pressure Zone (RPZ) is a designated area where rents cannot be increased by more than 4% per annum. This applies to new and existing tenancies
Read More

Categories: First Time Landlord, Property Management, Rent Increases, and Rent Pressure Zone.

10 Things Landlords Should Know About Rent Pressure Zones

1. Rent Pressure Zones (RPZs) limit the amount of rent in exsiting tenancies as well as new tenancies. 2. RPZs use deisignated Local Electoral areas; to check if your property is in a RPZ input your property address into the RTB Calculator. 3. There is a prescript formula to calculate the rent. R x (1 +0.04 x t/m) R= The last rent set under a tenancy. t = The number of months between the date the current rent came into effect and the date the new rent will come into to effect. m = 12 or 24 4. RPZs commenced
Read More

Categories: Property Management, Rent Increases, Rent Pressure Zone, and Uncategorized.

Rent Pressure Zones In Co. Meath And Co. Louth

Rent Pressure Zones were introduced in Ireland in 2016, There are currently 21 Local Electoral Areas which have been designated as Rent Pressure Zones. As of the 2nd of July 2019 more areas in Co. Meath and Co. Louth are now in a Rent Pressure Zone. In Rent Pressure Zones rents can only rise by up to 4% annually. This applies when rents are set at the start of a tenancy and when rents are reviewed during an ongoing tenancy. A landlord must tell the tenant what the amount of rent that was last set under the tenancy for the dwelling.
Read More

Categories: News, Rent Increases, and Rent Pressure Zone.

New Rent Pressure Zones & Legislative Changes Brought in 2nd July 2019

The following list of 19 Local Electoral Areas have been designated Rent Pressure Zones: – The full list of the 19 new LEAs across 11 counties are; Meath: Kells, Trim Louth: Ardee, Dundalk South, Dundalk – Carlingford Wicklow: Arklow Galway: Athenry/Ornamore, Gort/Kinvara Wexford: Gorey Cork; Midleton, Fermoy Laois: Portlaoise, Graiguecullen/Portarlington Waterford: Waterford City East, Waterford City South Westmeath: Athlone Limerick: Limerick City West, Limerick City North Kilkenny: Kilkenny   Properties that have not had a tenancy for a period of two years prior to the immediate tenancy date are exempt from the RPZ Rules. Investigations and Sanction Powers in effect
Read More

Categories: News and Rent Pressure Zone.

Are You In A Rent Pressure Zone? Know How To Conduct A Rent Review.

Rent Pressure Zones were introduced in Ireland in 2016. In Rent Pressure Zones rents can only rise by up to 4% annually. This applies when rents are set at the start of a tenancy and when rents are reviewed during an ongoing tenancy. A landlord must tell the tenant what the amount of rent that was last set under the tenancy for the dwelling. A landlord must provide the date the rent was last set under a tenancy for the dwelling. A landlord must provide a statement as to how the rent set under the tenancy of the dwelling has been
Read More

Categories: First Time Landlord, Landlord Legislation, Property Management, Rent Increases, and Rent Pressure Zone.

Landlord Query Of The Week : Rent Increase

Landlord Query of the Week: 29th May 2019 My property is in a Rent Pressure Zone, I have not increased my rent since 2017, I have three tenants on one lease agreement, one tenant is leaving with a replacement in July. I have served a 90 days increase notice , how does the replacement tenant fit in with the increase? The increase will not come into affect until August. IPOA Reply:  *Private landlords must follow certain procedures and rules if they want to raise the rent. The rules are set out in the Residential Tenancies Act. Based on the information
Read More

Categories: Landlord Legislation, Landlord Query of the Week, and Rent Pressure Zone.