Tuesday 22 October 2019

Tenants still facing large increases despite rent caps

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Kevin Doyle

Kevin Doyle

Some tenants living in rent pressure zones are still facing increases of greater than the permitted 4pc.

New research to be released today will give the first major insight into how laws limiting rent hikes are affecting the market.

It is understood the study by the Economic Social and Research Institute (ESRI) will show that rent inflation has moderated to between 2.5pc and 3pc per annum.

While acknowledging that rents are "too high and have been rising unsustainably", Housing Minister Eoghan Murphy said the data shows rent pressure zones are having an impact.

"The types of interventions we are making in the rental sector have never been done before. This research shows that they are having a positive impact on rent inflation and I believe the more recent reforms will go even further," he said.

Mr Murphy said that without rent limits people would be paying more and he believes that increases can be brought down further.

"Some renters are still facing increases of greater than 4pc within rent pressure zones and that is why the new legal powers that I have recently given to the Residential Tenancies Board are so important.

"Landlords breaching rent caps can now be more effectively investigated and sanctioned," he said.

Coyne Research will also publish new research today which looks at the relationship between landlords and tenants.

It shows that 80pc of tenants in rent pressure zones have a positive relationship with their landlord and likewise the vast majority of landlords (86pc) are satisfied with tenants.

Irish Independent

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