More than 50% of tenants living in rent pressure zones are seemingly unaware of their restrictions on their landlords.
A new report by the RTB found that rent in rent pressure zones would be up to 3 per cent higher if the measures hadn’t been brought in.
Under legislation, landlords can’t increase rent by more than 4% a year. Director of the Residential Tenancies Board, Rosalind Carroll, says many don’t know that the rule also applies to new tenancies.
“Rent pressure zones and the cap on rents in terms of that four per cent increase applies not only to existing tenancies, but to a tenanciy that is being re-let in the market,” she said.
“Lots of people get that it applies within your existing tenancy, but the research found that a lot of people didn’t get it at the re-let stage.”
Meanwhile the price of rent in rent pressure zones would be higher if they didn’t exist.
The RTB claims Rents in rent control areas would be up to 3% higher if the measures hadn’t been brought in in 2016.
Over half of tenants who live in a rent pressure zone – don’t realise that it means there’s a 4% cap on how much their landlord can increase the rent.
The majority of respondents said they felt secure in their tenancy.
There are now 42 rent pressure zones across 13 counties, accounting for 65% of renters