From the 18th December 2019 four new Electoral Areas were designated as Rent Pressure Zones.
The new Rent Pressure Zones are:
- Baltinglass, Co Wicklow
- Piltown, Co Kilkenny
- Cobh, Co Cork
- Strandhill-Sligo, Co Sligo.
Landlords – ensure you know if your rental properties are located in a Rent Pressure Zone. 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 (unless an exemption is being applied). Know how to conduct a rent review in a Rent Pressure Zone – click HERE.
The RTB Rental Index for quarter 3 2019 was also issued. The index shows an annual growth of 8.2% nationally.
There were 25,448 tenancies registered in quarter 3 2018 compared to 21,236 tenancies registered in quarter 3 2019, this shows a reduction of 17% on the same time period last year.
Is this a sign of Landlords continuing to leave the sector ? Unintended consequences of Rent Pressure Zones.
Details on the Rent Index can be found here.
Do You Have Any Questions Regarding Rent Reviews? Contact us on 01-8276000