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SOCIAL BOOKMARKS

Navan and Limerick City East become Rent Pressure Zones for first time

Navan in County Meath and Limerick City East have met the criteria for Rent Pressure Zones for the first time.

The Residential Tenancies Board's latest 'Rent Index' has been released.

It shows annually, national rents went up by 6.9% to €1,134 in Quarter 4 of 2018, from the same time the previous year.

“The Rent Index has now provided us with important data that enables a decision to be taken on designating two new Rent Pressure Zones to be set for the Local Electoral Areas of Limerick City East and Navan," said Rosalind Carroll, Director of the Residential Tenancies Board.

"These are the first Rent Pressure Zones to be designated since September 2017.

This is important for landlords and tenants as it means that rents in these Local Electoral Areas will be limited to rises of a maximum of 4% annually," she outlined.

"This should help moderate rents in these areas. We would encourage both landlords and tenants to contact us for more information on their rights and obligations and we will be rolling out a targeted information campaign in these areas over the coming weeks."

Meanwhile, the level of rents in the GDA (excluding Dublin) are not as high as in Dublin, as of the last three months of 2018, the standardised average rent for the region stood at €1,167 up from €1,108 the previous year.

The standardised average rent for outside the GDA stood at €833 during the same time-frame.