As of the beginning of this month, landlords are now required by law to register their tenancies annually with the RTB (Residential Tenancies Board). The idea behind this is to facilitate more accurate collection of rental and housing data leading to more effective regulation of the sector.
What do you have to do?
From now on, you will have to register your details with the RTB. You can find all the info you need at the following link: More Information
The cost of registering a tenancy varies from €40 for private, costs and Student Specific Accommodation (SSA) rentals to €20 for tenancies managed by AHBs.
There will, however, be a fee waiver for landlords who currently have a ‘Further Part 4’ tenancy in place.
Landlords will also be notified in advance of any yearly renewals in order to avoid any potential late fees.
The RTB have confirmed that there will be a four month transition period for tenancies with renewal anniversaries between April 4th-July 3rd, 2022. This transition period will end on August 3rd 2022.
Why the change?
In relation to the new regulations, Minister O’ Brien stated:
“The introduction of annual registration is important in assisting the RTB in monitoring and regulating the sector. In comparison to the current system of registration, annual registration of tenancies (and licences in student specific accommodation) by landlords with the RTB is a simpler and more effective registration model for the rental sector. Registration reminders and support will be provided to landlords by the RTB to help compliance with this new annual obligation. Up-to-date registration data will help Government to better understand the rental sector and inform decision making in rental policy development.”
The RTB has said it is important to note that reminder notices will be issued to the existing correspondence details held and landlords must ensure that they keep their details up to date with the RTB. If you have not updated your contact details in some time, it may be wise to do so now.
Property management Company
At KPM Group we have over 25 years experience in property management in Ireland. If you are a landlord who requires assistance, then please do not hesitate to contact us here at KPM Group and a member of staff will be happy to help in any way we can.