Residential Tenancies (Amendment) Act 2015
On 4 December 2015, The Residential Tenancies (Amendment) Act 2015 was signed into law.
The following noteworthy provisions of the 2015 Act came into immediate effect:-
- a temporary prohibition on conducting rent reviews more often than once in every 2 year period. This restriction is temporary in that it applies until 3 December 2019 when rent reviews may once again be conducted once every 12 months;
- the notification period before a new rent can take effect has been increased from 28 days to 90 days; and
- a provision increasing the notice period for the termination of tenancies where there has been occupation of between 4 and 8 years.
Other provisions including the introduction of a deposit protection scheme (new security deposit) and the expansion of the Private Residential Tenancies Board remit to include not – for – profit Approved Housing Bodies are not yet in effect but will be be commenced at a later date.
For further information, please contact Eimear Coughlan at ec@ofx.ie or (021)427 77 88.