Minister O’Brien further limiting rent variation taking no account of level the rent is set.
-All RPZs will be extended to end of 2024
-4% cap on rent increases in RPZs will be replaced by restriction of inflation under Harmonised Index of Consumer Prices-
Key provisions are set to be inserted into the Residential Tenancies (No. 2) Bill 2021, published on 17 June, to reform the rent increase restrictions in RPZs. These reforms will take effect upon the passage of the Bill, expected by July 9th.
The current cap of 4% on annual rent increases will be replaced and rents in RPZs will only be allowed to increase in line with general inflation as recorded in the Harmonised Index of Consumer Prices (HICP). This will result in far lower rent increases for the estimated 74% of all tenancies which are in RPZs. HICP averaged 0.73% over the past three years.