Landlords will be able to increase rents by multiples of new rent control caps if they have not increased rents in several years.
New rent control legislation will allow landlords of properties in rent pressure zones (RPZs) to compound the cap from previous years.
According to Independent.ie, it is expected that Housing Minister Darragh O’Brien will pass legislation through the Oireachtas in the coming weeks which will link annual rent increases in RPZs to 2pc or to the Harmonised Indices of Consumer Prices (HICP), whichever is lower.
Under the legislation, landlords who have not increased the rent in previous years will now be allowed to combine the rent increase cap, as it will be legislated for on a per annum basis.
Under the new rules, rent increases per year will be linked to HICP or 2pc, whichever is lower.
However, renters whose rent has not increased in over a year will be left liable to rent increases of above that.
For example, landlords who have not made rent increases on homes in the past five years would be able to hike rents by up to 5.9pc under the new legislation.
