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Tenants encouraged to check out their rights on PRTB website

Jan 16, 2015


Friday 16th January 2015:  Tenants are today being encouraged by the Private Residential Tenancies Board to check out their rights as tenants on their website www.prtb.ie .

“Recent research* commissioned by the PRTB found that 63 % of tenants in the private rented sector are aged between 18-34, with only 14% over the age of 45.  While 64% of tenants have heard of the PRTB, 40% do not know if their property is registered with the PRTB.  There are more and more people renting, with one in five households now living in the Private Rented Sector.  Many are renting for the first time.  One third of tenants participating in this study reported that they are not fully aware of their rights as a renter.  We are taking steps to fill the significant gap in understanding among tenants of their rights”, commented Ms. Anne Marie Caulfield,  Director of the PRTB.

“For example, many tenants do not realise that they may be entitled to continue to rent the property they are currently living in for up to four years, even if they signed a shorter lease; they don’t always know what the correct notice periods are for the termination of their tenancy;  or that rent increases can only happen once during a 12 month period”.

The PRTB website, www.prtb.ie, has extensive information for both tenants and landlords explaining what their rights and obligations are.  “I would encourage anyone who is currently renting, or considering renting in 2015, to log on to our website and familiarise themselves with their rights and their responsibilities.  They can also download a copy of the “Good Tenant, Good Landlord” leaflet which contains all the information in one handy place”, Ms. Caulfield added.

Once a tenant has been in their rented accommodation for more than six months, their tenancy is classified as a ‘Part 4 tenancy’.  This means that they are entitled to continue renting in the accommodation for up to four years.  Exceptions to this are if there is a breach of the tenancy obligations (e.g. a failure to pay rent), if the landlord intends selling the property within the next three months, intends to extensively refurbish the property or change its use from a residential property or the landlord requires the property for himself or his family.  

Another misconception is that rents can be increased at any stage.  Rents can only be increased once during a 12 month period, and must be in line with rents for similar accommodation locally i.e. Market Rent.  Twenty-eight days’ notice must also be given to tenants of any proposed rent increase.

When it comes to notice periods for the end of a tenancy, many people do not realise how long they have before they have to move out.  For example,

Length of Tenancy                         Notice period
Less than six months                       28 days
Six months – one year                    35 days
One – two years                              42 days
Two – three years                           56 days
Three – four years                           84 days
Four years +                                      112 days

If tenants have a problem with their tenancy, the PRTB helps solves disputes and disagreements between landlords and tenants, and both parties can also avail of the PRTB’s dispute resolution service for a fee of €25 or €15 if they apply on-line.  Further information is available about this on www.prtb.ie

About the PRTB and the Private Rented Residential Market
The Private Residential Tenancies Board (PRTB) was established in 2004 to operate a national tenancy registration system and to resolve disputes between landlords and tenants. It also provides policy advice to the Government on the private rented sector, and its dispute resolution service replaces the courts in relation to the majority of landlord and tenant disputes.   According to the 2011 Census, nearly 1 in 5 households in the country are renting their accommodation in the private sector.   
The PRTB, in conjunction with the ESRI, produce a quarterly Rent Index and Average Rent Report. This provides average rents for 446 locations across the country, in respect of 5 property types.
*The research was conducted by Red C Research and Marketing in May/June 2014

For further information
Michelle Tritschler, MKC Communications 01 7038600/ 0863846630, michelle@mkc.ie

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LATEST DATA FROM PRTB QUARTERLY RENT INDEX - RATE OF PRIVATE SECTOR RENT RISES MODERATED IN DUBLIN IN THIRD QUARTER OF 2014 WHILE OUTSIDE OF DUBLIN IT INCREASED

Dec 11, 2014

•    DUBLIN RENTS INCREASED BY 9.5% IN THE PAST YEAR.


•    MONTHLY RENTS NATIONALLY NOW 17% BELOW 2007 PEAK.

 

Although private sector rents have continued to increase, the rate of growth moderated in the third quarter of the year (July-September), according to the latest Rent Index from the Private Residential Tenancies Board (PRTB). This moderation is a reflection of trends in the Dublin rental market, whereas the pace of increase in the rental market outside Dublin was stronger in Q3 when compared with Q2 of this year.
Rents in Dublin grew by 2.3% in Q3 when compared with Q2, 2014. While rents for houses in Dublin increased by 3.1%, rents for Dublin apartments rose by 2% quarter on quarter. The rent indices for properties outside Dublin show rents in Q3, 2014, when compared to Q2, 2014, were up by 2.5%. Rents for houses outside Dublin recorded a quarterly increase of 3%. The index for apartment rents outside Dublin increased by 1.8%   in Q3 2014.
At a national level, monthly rent levels rose by 2.3% in Q3 2014 when compared with the second  quarter. Looking at trends in more detail, monthly rents for houses were up by 3% quarter on quarter, while rents for apartments were 1.5% higher than in Q2, 2014.
Private sector rents nationally were 5.6 per cent higher in Quarter 3 this year when compared to the same period last year; up from €790 to €835, a rise of €45. Rents for houses were 4.3 per cent higher, up from €786 to €819, while apartment rents were 7.3 per cent higher than in Q3, 2013; up from €805 to €864.
Annual growth in the Dublin market was stronger, up by 9.5 per cent (€103), with Dublin house rents up by 7.5 per cent (€92) and Dublin apartment rents higher by 11.6 per cent (€122). In contrast, annual growth in rents for the market outside Dublin was more subdued, recording growth of 3.8 per cent when compared to Q3, 2013; up from €631 to €655. Again the performance differs by property type. Monthly rent for houses outside Dublin increased by 3.4 per cent (€22), up from €648 to €670, while apartments outside Dublin experienced an increase of 5 per cent (€30), from €607 to €637.
This data comes from the PRTB’s Quarterly Rent Index which is compiled by the Economic and Social Research Institute (ESRI) for the Board. It is the most accurate and authoritative rent report of its kind on the private accommodation sector in Ireland. This is because it is based on the actual rents being paid, according to the PRTB’s records, as distinct from the asking or advertised rent.
Looking at the longer-term trends, in Q3, 2014, monthly rents were over 17% lower than their peak in late 2007, with Dublin rents down 9.4% from peak. Rents for houses are 19.6% lower than they were in Q4, 2007. Rents for houses outside Dublin are 22.8% lower than their peak, while rents for Dublin houses are 8.4% lower than in late 2007. Nationally, monthly rents for apartments are 15.4% lower than in Q4, 2007.  Apartment rents outside Dublin are 21.3% lower than their peak, while rents for Dublin apartments are 9% lower than in late 2007.
The PRTB website www.prtb.ie (click on “rent index”) also contains an Average Rent Dataset which enables people to check the average rent being paid for five different categories of dwelling types throughout the country, in both urban and rural areas. This enables people to check what is the actual rent being paid for, say, a semi-detached house or a two-bed apartment in their neighbourhood, and in other parts of the country.
All landlords are legally obliged to register tenancies with the Board and the number of new registrations with the PRTB in Quarter 3, 2014 was 33,438. The number of tenancies registered with the PRTB as at the end of Q3, 2014 was 300,543.

The Index is of assistance for a range of Government purposes, including housing policy generally and informing the Department of Social Protection’s Rent Supplement scheme. It is also an important reference document in landlord/tenant disputes on rent.  It was developed in consultation and co-operation with landlord representative groups such as the Irish Property Owners Association, irishlandlord.com, the Institute of Professional Auctioneers and Valuers, the Society of Chartered Surveyors of Ireland, and tenant representative groups such as Threshold and USI (Union of Students in Ireland).



 About the PRTB and the Private Rented Residential Market
The Private Residential Tenancies Board (PRTB) was established in 2004 to operate a national tenancy registration system and to resolve disputes between landlords and tenants. It also provides policy advice to the Government on the private rented sector, and its dispute resolution service replaces the courts in relation to the majority of landlord and tenant disputes.   According to the 2011 Census, nearly 1 in 5 households in the country are renting their accommodation in the private sector.   

 

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