Arklow added to new list of rent pressure zones
ARKLOW has been included in the latest rent pressure zone list and has become a rent pressure zone as of yesterday (Tuesday).
The Residential Tenancies Board (RTB) announced on Tuesday that the town was one of the 19 Local Electoral Areas (LEAs) across 11 counties that have been designated a Rent Pressure Zone.
It’s after rents rose to 8.3 per cent over the last 12 months nationally according to new figures from the RTB. In the January to March period of 2019, the standardised national average rent was €1,169 per month, up from €1,079 one year earlier which represents a €90 increase.
Once an area becomes a Rent Pressure Zone, rents cannot be increased by more than 4 per cent per year. This applies to new and existing tenancies unless an exemption is being applied.
RTB Director Rosalind Carroll said, ‘it is really important that landlords and tenants go to www.rtb.ie where they can check if their rental home is in a rent pressure zone and what rent can be charged.’
The new Residential Tenancies (Amendment) Act 2019 introduced changes to the criteria to assess whether an area can be designated as a rent pressure zone. The new criteria means that areas can be compared to more regionally appropriate standardised average rents.
Commenting on the announcement, local TD Minister for Health Simon Harris said it was ‘good news for people renting in the Arklow area.’
‘In Co Wicklow, we have a number of areas now included in the Rent Pressure Zones. Bray, Greystones, and Wicklow town are all covered by the legislation at present and now with the addition of the Arklow Local Electoral Area, we have protections in place for renters in all of the higher demand areas.
‘From my work in the community and through my constituency clinics, it is clear to me that providing certainty remains a vital issue throughout the community. I am pleased this news today will help renters in the Arklow area. I will continue to work with Wicklow County Council and my Government colleagues to ensure housing supply in our county is prioritised.’
Arklow tenants and landlords are being urged to check the RTB’s website as the designation, which came into effect on Tuesday, July 2, impacts what rent can be charged. Gorey in Wexford was also among the 19 rent pressure zones announced.