Institutional property investors have undertaken to suspend pending rent increases for the duration of the highest level of government restrictions to deal with the Covid-19 crisis.

It's one of a number of measures introduced by Irish Institutional Property (IIP) landlords to support tenants in line with government commitments.

IIP represents institutionally financed investors and real estate providers in the Irish real estate market.

Level 5 restrictions, which came into effect yesterday, are scheduled to remain in place until at least December 1st.

Among the other measures being implemented include a temporary suspension of notice to leave by member landlords for impacted tenants experiencing short term financial stress as a result of the crisis.

Landlords have also undertaken to assist impacted tenants experiencing short term financial stress with a range of measures including rent payment deferrals as well as payment plans.

In addition, if tenants who are currently in the process of moving wish to suspend their plans, IIP landlords have undertaken to support them with continuing accommodation provision.

"We are very much aware that some tenants will experience financial difficulties and we want to reassure them that our members stand ready to offer practical support to impacted residential tenants during this difficult time," Pat Farrell, Chief Executive, of IIP said.