Important update for Residential Landlords

 

Changes to the Residential Tenancies Act

Landlords should be aware that once a tenant has remained in occupation of a dwelling for a period of 6 months, he or she acquires the benefit of a Part 4 tenancy under the Residential Tenancies Act 2004 (the “Act”).  A Part 4 tenancy entitles a tenant to remain in occupation for a defined period of time, unless a valid Notice of Termination is served on him or her.  From the 24th December 2016, the duration of a Part 4 Tenancy has been extended from 4 years to 6 years.  This applies to all tenancies created on or after 24th December 2016.

Landlords should also be aware that The Planning and Development (Housing) and Residential Tenancies Act 2016 has also introduced Rent Pressure Zones, effective immediately in certain areas which will cap rent increases in these zones at 4% per annum.  The zones currently captured by the legislation can be found on www.rtb.ie/dispute-resolution/dispute-resolution/rent-pressure-zones together with a list of FAQs (pdf).

For further advice or information, please contact Ciara Comerford or Gearoid Williams.  Alternatively, you can telephone McMahon & Williams on 0659051009 or send an email to info@mcmahonwilliams.ie

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