The Residential Tenancies (No 2) Bill 2021 got announced on the 9th of June and here are the new protections under the new Bill.
- Any upfront payment upon the commencement of a tenancy will be restricted to a total value that does not exceed two months’ rent i.e. a deposit and one month rent in advance. This restriction will apply to all tenancies including for students residing in student specific accommodation. A student can make a larger upfront payment if they so wish, by way of an opt-out option, but they cannot be forced to do so.
- The Bill also provides that the notice period to be given by students in respect of student specific accommodation will be limited to a maximum 28 days’ notice.
- The rental measures approved by Cabinet today also included the extension of the targeted protections which are in place for those negatively impacted by COVID-19, in arrears and at risk of homelessness. Subject to the eligible tenant making the necessary declaration they will be protected by rent increases and evictions until January 12th 2022.
The changes to the law will take effect upon the passage of the Bill, which is expected by July 9th.