Landlords ‘stampede’ out of rental market ahead of new changes coming next year

admin-cdn2 hours ago

0 0 2 minutes read

Landlords 'stampede' out of rental market ahead of new changes coming next year

Renters could be facing an even more uncertain market in the months ahead of new tenancy rules that are coming into effect in Ireland on March 1, 2026.

The new rules and regulations will not affect tenants that have been in place before March 1 and after that date, they will see a six-year tenancy agreement put in place as well as small landlords being restricted from evicting people to sell the property.

However, real estate agents across the country are warning that landlords are going to be fleeing the market ahead of the introduction of the new rules.

“Every time there’s a new set of regulations being proposed by government, we hear from representative organisations there’s going to be a stampede and then that stampede doesn’t transpire,” Eoin Ó Broin, Sinn Féin’s Housing Spokesperson, told Newstalk.

READ NEXT: Gardaí discover nearly €500k worth of cocaine after stopping a van travelling in Limerick

There will be different rules for ‘small’ and ‘big’ landlords, with smaller landlords being those that have three or less properties.

Regardless of the type of landlord, six-year rolling tenancy agreements will be introduced.

During that time, eviction notices for the sake of selling the property will not be allowed for larger landlords, but evictions for other reasons will.

Those reasons include the tenant not meeting their obligations or the property no longer suiting the tenant’s needs.

Small landlords can evict tenants if they fall into financial hardship and need to sell the property, if the landlord or a close family member need to move into it, to do renovations, or to change the use of the property.

Larger landlords will not be allowed to issue eviction notices on the grounds of wanting to sell, renovate, or change the use of the property, nor will they be allowed to evict a tenant so themself or a family member can move in.

READ NEXT: ‘Forever united’: Two victims who lost their lives in Dundalk crash are laid to rest

“The grounds will just be more restricted than is currently the case,” Deputy Ó Broin said.

It’s suggested that 90% of small landlords have sent out eviction notices out of concern for the new rules, according to the Sunday Independent.

“They clearly believe that they will be so restricted in the capacity to remove a tenant that they’re doing it now rather than wait till post-March,” Deputy Ó Broin added.

The new rules will also allow landlords to set rent prices back to full market rates at the start or end or a six-year tenancy if the rent was previously below that.

Rent increases will be capped at the rate of inflation or at 2%, whichever is lower at the time.

ADVERTISEMENT – CONTINUE READING BELOW