Government have approved plans for the reform and extension of the Rent Pressure Zone Model. What this means is that rent increases will be capped to Consumer Price Index in Rent Pressure Zones.
The current cap of 4% on annual rent increases will be replaced and rents in RPZs can now only go up, if necessary, in line with general inflation as recorded in the Harmonised Index of Consumer Prices (HICP). This will result in far lower rent increases for the estimated 74% of all tenancies which are in RPZs. HICP averaged 0.73% over the past three years.
Rent increases in area outside Rent Pressure Zones limited to once every two years.
Up-front advance rent payments capped at maximum two months including deposit.
These changes come into effect from July 9th 2021.
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