Almost a third of tenancies in Dublin rent pressure zones (RPZs) had rent increases above the legal limit of 2 per cent over the past two years, a new study has found.
The preliminary findings of a study published by the Residential Tenancies Board (RTB) on Thursday found that 29.3 per cent of tenants in Co Dublin and 25.9 per cent of tenants in other RPZs had a rent increase of 2-8 per cent or more.
The findings have prompted the independent body to initiate an investigation. It has the power to levy fines of up to €15,000 as well as costs of up to €15,000 for breaches.
The study, which tracked 152,737 tenancies in 2022-2024, also found that tenancies in non-RPZ areas were more likely to have “significant hikes” in rent, though just 17.16 per cent of private tenancies are now located in non-RPZs.
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The study shows that 16.5 per cent of tenants in non-RPZs experienced rent increases of 8 per cent or more, compared with 2.8 per cent of tenants in Dublin and 4.8 per cent of tenants in other RPZs.
Nationally, the study carried out by the Economic and Social Research Institute (ERSI) found that 74 per cent of tenants experienced an annual rent increase of 2 per cent or less.
In Dublin 58.3 per cent saw no change in rent over the two-year period, compared with 65.7 per cent in other RPZs and 78.1 per cent in non-RPZs.
While welcoming that the majority of landlords were found to be compliant, Rosemary Steen, director of the RTB, described noncompliance as “extremely serious”.
“We will be communicating with these landlords as a priority to bring them back into compliance,” she said.
The RTB stressed that increases of more than 2 per cent in RPZs do not necessarily indicate noncompliance, saying some cases could have been done cumulatively.
The study relied on rent prices provided by landlords under annual registration data. Until now, the RTB has primarily relied on complaints from tenants to investigate potential breaches of RPZ rules.
In January-May 2024, 17 sanctions arising from investigations have been issued by the RTB to landlords who breached RPZ requirements, with fines totalling €92,525.69.
Arcourt Limited accounted for eight of those sanctions, and was ordered to pay €32,200 in fines. WZDJ Properties Investment Limited was fined €32,312.52 in total for five separate cases.
In 2019-2023, 131 out of the 170 sanctions issued to landlords were for breach of RPZ regulations and in the same period, landlords have paid €132,228.62 overall. A further €435,787.88 in overcharged rent has been returned to tenants.
Separately, existing tenants continue to pay significantly lower rents than new tenants, according to the RTB’s rent index for the first quarter of 2024, also published on Thursday.
The national standardised average rent paid by new tenants is now €1,612 per month, which is €221 or 15.9 per cent higher than existing tenants who pay an average of €1,391.
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