The Residential Tenancies (Amendment) Act 2015
The 2015 Act was signed into law on the 4th December 2015. Notable provisions, some
already introduced and some not, include:-
- Introduced already:
- A restriction on rent reviews to take place no more than once every twenty-four months, and a review cannot take place within the first two years of a tenancy. This will not however apply where there is a substantial change in the nature of the accommodation provided which affects the market rent. This restriction also retrospectively applies to tenancies which commenced before 4th December 2015 unless a review of rent was already in train before that date.
- A provision increasing the notice periods for termination for tenancies in place for four or more years
Provisions (not yet in force) to include a new security deposit regime whereby when tenancies are being registered (as is required by law), deposits must be transferred to the PRTB and dealt with by them thereafter (as to claims for release of same to tenants on the expiry of the tenancy, or by landlords to cover tenancy breaches). There will be transitional provisions relating to tenancies already registered before the relevant sections come into force.
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