More Rent Pressure Zones – 18th December 2019

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

 

 

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