New Rules for Landlords and Tenants Explained
There has been a lot of discussion about the rental crisis in Ireland in recent months. In November 2015, the government announced the Residential Tenancies Amendment Bill, to deal with rising rents and to give new rules to landlords and tenants. There’s a lot in the new bill, so here at Howell & Co. Solicitors we thought we’d give you a run down on some of the main points to help you find your way through the maze of landlord/tenant rights.
What Tenants & Landlords Need to Know
• Rent increases will be limited to every 2 years rather than annually. This means that anyone who had a rent rise in 2015, will now not have a rent review until 2017.
• Landlords will have to give 28 days’ notice of any rent increase.
• There will be longer periods of notice to quit, than now exist. (We could put in the following also: “See our blog on terminating a tenancy” as this could form another blogpost)
• A rental deposit scheme will be introduced, whereby all new rental deposits will be lodged with the PTRB instead of the landlord. Both landlord and tenant will be required to agree on how the deposit is dealt with at the end of a tenancy.
• If a landlord intends to end a tenancy because they wish to sell a property, they must now provide evidence of the house or apartment being put up for sale, with the possibility of a €3,000 fine if it emerges that they did not sell.
Some Good News for Landlords and Tenants
While debate about the new rules will no doubt continue, there are some new provisions which will help both landlord and tenant. These will mean that people on housing payments in the areas of highest rent, will see in an increase in the payment thresholds. Landlords, too will see some changes in tax relief in some circumstances and will also be able to have more certainty in relation to termination of tenancies.