New Legislation Up-Dates!
The Residential Tenancies (Amendment) Act 2021 (the 2021 Amendment Act) was signed into law on 11th December 2021. All of this Act apart from sections 5, 6 and 7, comes into force immediately. The key changes in the 2021 Amendment Act relate to:
- Rent setting in Rent Pressure Zones (RPZs) – From 11th December, when setting the rent at the start of a tenancy in an RPZ or when carrying out a rent review in an RPZ, rent increases are capped at 2% per year on a pro rata basis, where HICP inflation is higher.
- Tenancies of unlimited duration – all new tenancies created on or after 11th June 2022 will become tenancies of unlimited duration once the tenancy has lasted more than six months and no notice of termination has been validly served on the tenant. A landlord will still have the right to terminate a tenancy on the specific grounds provided in the Residential Tenancies Act 2004 (as amended) (RTA 2004). Transitional measures are provided in the 2021 Amendment Act in relation to the conversion of existing tenancies to tenancies of unlimited duration.
- Temporary registration fee waiver – from a date to be decided in Q1 2022, all tenancies will be required to be registered annually with the Residential Tenancies Board (RTB). There will be temporary fee waivers for certain tenancies.
Government of Ireland Guidance Document on these changes and what they mean for landlords and tenants can be found here.
The RTB’s Rent Pressure Zone Calculator has been updated to reflect these latest changes. It can be accessed here.