In a Rent Pressure Zone (RPZ) rents cannot be increased by more than 2% per year, or by the rate of inflation if this is lower. Some properties in RPZ areas are exempt from rent caps. These include:
- A property that has not been rented for two years before the new tenancy start date.
- A property that is a protected or proposed protected structure and has not been rented for 12 months before the new tenancy start date.
- A property that has undergone a ‘substantial change in the nature of accommodation’.
If a landlord wants to claim an RPZ exemption, they must submit an RPZ Exemption Form and relevant proof to the RTB within one month of when they set a new rent for the tenancy.