The Ennis Local Electoral Area has been designated a rent pressure zone.
The Residential Tenancies Board’s Rent Index Report for the first quarter of this year, shows Clare was one of sixteen counties where standardised average rents in new tenancies were above €1,000 per month at the beginning of the year.
The RTB has published its Rent Index Report for the first quarter of this year, which measures rental price developments faced by those taking up new tenancies in the private rental sector.
According to the report, the average cost of renting in Clare stood at almost 1,074 euro a month between January and March, up from 920 euro in the same period last year.
In Shannon, the monthly cost rose to 1,130 euro, while in the Killaloe area it was 1,096 euro.
Ennis was the most expensive part of the county to rent in, with a monthly cost of 1,148 euro at the beginning of the year.
Due to growth of more than 7% in prices over the last five quarters, the Ennis Local Electoral Area now satisfies Rent Pressure Zone criteria and has been designated an RPZ by the Housing Minister.
This means rent increases on private rental tenancies within the area are limited to a maximum of 2% per annum, and this applies to both existing tenancies and those being re-let on the market.
There are some exemptions including properties new to market, properties that have not been let in the previous two years, and properties that have undergone a substantial change in the nature of accommodation.
Existing tenancies within the RPZ are still subject to the existing 24-month certainty measure until the next rent review is due.
Full details on RPZs for both tenants and landlords are available on the Residential Tenancy Board website.
