Renters being asked to pay two months’ deposit more and more frequently

Renters being asked to pay two months’ deposit more and more frequently

Renters are increasingly being asked to pay two months’ deposit when renting from the country’s biggest private landlord.

That’s according to a report in today’s Irish Times, which says that Irish Residential Properties Reit (Ires Reit) are adding to the growing financial pressure on people looking to rent in the private sector.

Ires Reit owns 2,400 apartments in the greater Dublin area and, according to figures published last year, charged an average of €1,500 a month in rent in 2016.

That would mean tenants having to pay an up-front deposit of €3,000 on top of the €1,500 in rent for the first month before moving into their new home.

The average figure might now be even higher with rents continuing to rise.

According to The Irish Times, Ires Reit announced recently that two-bed apartments in its new Maple development in Sandyford, south Dublin, are being rented at €2,570, with one-bedroom apartments costing €1,950.

Read the full article here.

 

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