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New rent rules come into effect from today

A house key on a tenancy agreement contract
New tenancies will also have a minimum of six-year duration, under the new rules being introduced from today

Controversial new rent rules come into effect from today.

The law has been introduced by the Government which says it is necessary to increase the supply of housing.

However, the changes have been criticised by opposition parties who claim they will lead to a significant increase in rents.

The new law means that from today if a property is vacant the landlord can set the rent at market rates instead of increases being capped at 2% as they are at present.

New tenancies will also have a minimum of six-year duration.

The State's Residential Tenancies Board says that it represents "stronger" protections for renters.

The only grounds large landlords have for eviction during that period is if the tenant breaches their obligations, such as not paying rent, or if the property is no longer suitable for the tenant.

If the home is owned by a smaller landlord, with between one and three tenancies, they can also issue a notice to quit if the landlord or a close family member needs the property or if the landlord needs the home due to financial hardship.

At the end of a six year cycle, smaller landlords can also evict to sell the property, to substantially renovate or to change its use.

For tenancies created before today there is no change for either landlords or renters.