IPAV Proposals

RENT FLEXIBILITY –RPZ Adjustment

Under Rent Pressure Zone (RPZ) rules when tenants leave a property of their own free will, the property must re-rent under RPZ restrictions, even if the rent is substantially below market level. The owner can only re-rent at market rate in two scenarios – by withdrawing the property from the market for a 2-year period or where a substantial refurbishment or renovation of the property is undertaken which would require it to be vacated for that purpose. In some occasions when a tenant gets an eviction notice knowing their rent is below market they offer more rent to the landlord but due to the RPZ rules the landlord can’t accept this extra rent. IPAV proposes that the Government would amend the RPZ rules to allow landlords charge market rent for properties where tenants leave of their own volition. This would encourage badly needed properties to be re-rented rather than lying idle for a long period. It would also encourage better property upkeep, making it more viable for property owners.