Important changes to the law affecting tenancies created on or after 11 June 2022 were made following the enactment of The Residential Tenancies (Amendment) Act 2021 on 11 December 2021.
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- Since 2004, tenants have been afforded security of tenure under what was known as a Part IV Tenancy whereby tenants were entitled to remain in occupation of a property for up to six years once they had been in occupation of that property for six consecutive months. Under the new legislation, any new tenancy created after 11 June 2022 entitles tenants to a tenancy of unlimited duration. There are specific circumstances under which a landlord may terminate a tenancy such as for the sale of the property, or if it is required for the use of the landlord or the landlord’s family. This effectively brings to an end the common practice of a landlord ending a tenancy without cause after the six year cycle ends.
- Additional measures have been introduced in respect of rent caps. Annual rent increases for both new and existing tenancies in Rent Pressure Zones in line with the market rent cannot exceed the lower of (i) inflation as recorded in the Harmonised Indices of Consumer Prices or (ii) 2% per annum on a pro rata basis.
- Landlords are now obliged to register tenancies on an annual basis as distinct from doing so as a once off at the commencement of a tenancy.
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If you require any further information in respect of the changes to the legislation please contact Niall Shanley or Cara Walsh of our Property Team.
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[gdlr_tab title=”Cara Walsh” position=”Partner” author_image=”https://mwmlegal.ie/wp-content/uploads/2015/04/Cara-Walsh_1-440×550.jpg” ][/gdlr_tab]
[gdlr_tab title=”Niall Shanley” position=”Associate” author_image=”https://mwmlegal.ie/wp-content/uploads/2015/04/Niall_Shanley_1-440×550.jpg” ][/gdlr_tab]
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