by Alan Jacques
RENTERS in the city could save up to €1,041 under new rent certainty measures, Limerick Labour Party councillor Frankie Daly has predicted.
The measures passed in the Dáil last week, ensure that Limerick tenants who had their rent increased this year will not face another hike in 2016. And according to Cllr Daly, this is very good news as it gives tenants a degree of stability for the next two years.
According to the latest figures from housing website Daft.ie, rents have increased in the city by 11.4 per cent over the past year with the average annual rent now standing at €9,132.
“Because of Minister Alan Kelly’s Residential Tenancies Bill, tenants will not see a rent increase next year. Rent levels can only now be reviewed every two years,” Cllr Daly explained.
“Based on average cost of renting in Limerick City and rent increases so far this year, the average household could save €1,041 under the new rent certainty measures,” he told the Limerick Post.
The City North representative believes this will also ease the pressure on many families currently facing homelessness due to the shortage of supply.
“The rent freeze means that anybody who has faced a rent increase in 2015 will not have a rent review until 2017. These are among the most significant rent reforms in history and with so many young families especially saving for deposits and under housing pressures, this will give a vital break from future rent increases for many.
Other new measures include increased notice periods for rent reviews, much greater protections for tenants and a new deposit protection scheme where deposits are lodged with the Private Residential Tenancies Board (PRTB) as opposed to the landlord.
