COVID-19 Real Estate Bulletin: Temporary Rental Sector Measures Imminent
23 March 2020
The Irish Government is to introduce a ban on evictions and rental increases in the residential sector. This is an emergency and temporary measure in response to COVID-19.
Members of Irish Institutional Property, a body comprising Ireland’s larger institutional landlords, have already voluntarily taken similar steps to protect their tenants.
It is anticipated that the emergency legislation will impose:
A temporary ban on evictions and termination notices
A pause on rent increase, and
Increased notice periods for tenancies of less than six months
These restrictions are expected to last for an initial period of three months.
The mechanics will not be known until the legislation is brought before the lower house of Irish Parliament this week. However, it is likely that it will only apply to those directly affected by COVID-19 and not the rental sector generally.
For now, the notification requirements and procedure are unclear. However, early engagement between landlords and tenants is key and the Government is expecting flexibility from landlords.
These measures build on the suspension of repayments by landlords affected by COVID-19 with buy-to-let mortgages. Landlords availing of that assistance are expected to pass on the benefit to their tenants.
A comprehensive note on the legislation will follow as soon as the legislation becomes available.
For more information, contact a member of our team.
The content of this article is provided for information purposes only and does not constitute legal or other advice.