New rent caps...how does it work?

[Superstitious]

I rent out my apartment. I increased the rent to 1000 in march 2016. With these new rent caps if I feel the need to increase rent in 2018. Can I increase by 4% or because its two years away 8%? Can anyone clarify this to me. Thanks

 

[mattser]

Good question, but I don't know the answer. Loads of people asking similar questions the last couple of days, both tenants and landlords. The politicians only interested in gaining votes. Maybe things will become clearer in next few days.

 

[Ravima]

With Brexit and other uncertanties, 2018 is a long way away! Remember during the last downturn, Labour forced reductions in rentals in the rent assisted programmes as 'rents were trending downwards'. Now that rents have turned, there is panic as the State has now built any houses over the past few years, preferring to (ab)use private landlords.

State should provide housing for all citizens. Private landlords should provide housing to give all citizens an alternative.

 

[Sarenco]

Apparently the Minister is to amend his own amendment (!) to the Bill to clarify that the first rent review at the end of the 2-year cycle is capped at 4% and thereafter annual reviews are permitted, again capped at 4%.

So in the above example, the earliest you can issue a 90-day rent review notice is March 2008 and the maximum increase is €40 per month. By my calculations, that equates to an annual cap of 1.77%.