Setting and reviewing private rents from 1 March 2026 - Residential Tenancies Board

Important changes to rental law will take effect from 1 March 2026. To learn what these changes will mean for tenants and landlords click here.

Setting and reviewing private rents

National rent control rules

From 1 March 2026, a new national system of rent control applies to all private tenancies and Student Specific Accommodation (SSA). Under this system:

  • Rent can only be increased once per year by 2% or the rate of inflation, whichever is lower. The rate of inflation is measured by the Consumer Price Index (CPI).
  • For private tenancies created from 1 March 2026: Re-setting to market rent is allowed in specific cases. These are:
    • When a new tenancy begins, but only if the last tenancy ended because the tenant left by choice, breached their obligations or if the property no longer suits their needs.
    • At the end of a 6-year tenancy cycle (called a Tenancy of Minimum Duration).
  • For existing tenancies created before 1 March 2026: Re-setting to market rent is not allowed for an ongoing tenancy that was created before 1 March 2026.

Exceptions:

There are some important exceptions to these rules:

  • Annual increases for new apartments and SSA: The 2% cap on annual rent increases does not apply to newly built apartments and student specific accommodation that commenced from 10 June 2025. In these cases, rent can be increased by the rate of inflation (CPI), even if this is higher than 2%. Read about how a property can qualify for this exception.
  • Re-setting to market rent for SSA: There are different rules on when SSA can re-set to market rent. Read the rules on setting and reviewing rent in SSA
  • Approved Housing Body and cost rental tenancies: There are different rules for setting rent for Approved Housing Body and cost rental  tenancies. National rent control rules do not apply to these tenancies.

Setting rent for a new private tenancy

Step 1: Check rent control rules

When setting rent for a new tenancy – first check if rent increase restrictions apply or if setting to market rent is allowed for this tenancy.

When is setting to market rent not allowed? Landlords starting a new tenancy from 1 March 2026 cannot set the rent at market rent if there was a tenancy in the property within the last 2 years and that tenancy ended because the landlord:
  • – Intended to sell
  • – Needed the property for themselves or a family member
  • – Planned to change the use of the property

These are sometimes called ‘no fault terminations.’ Re-setting to market rent is not allowed when the last tenancy ended due to no fault of the tenant.

There are different rules on when re-setting to market rent is allowed in Student Specific Accommodation. Read about setting and reviewing SSA rents.
When is setting to market rent allowed? Landlords starting a new tenancy from 1 March 2026 can set the rent at market rent if:
  • – The last tenant ended the tenancy by choice.
  • – The last tenancy ended because the tenant breached their obligations. For example, if they did not pay rent.
  • – The last tenancy ended because the home no longer met the tenant’s needs.
  • – It is a first-time tenancy in the property.
  • – There was no tenancy in the property for at least 2 years (or 1 year if a protected structure).
  • – The property is a protected structure and there was no tenancy in the property for at least 1 year.
  • – The last tenancy ended for substantial renovation and the landlord has offered it back to the previous tenant. (The property must have undergone ‘substantial change’)

There are different rules on when re-setting to market rent is allowed in Student Specific Accommodation. Read about setting and reviewing SSA rents

Step 2: Follow the correct rent-setting pathway

If re-setting to market rent is not allowed You can only increase rent by the amount allowed under national rent control rules. This means you can only increase rent by 2% or the rate of inflation each year, whichever is lower. Inflation is measured by the Consumer Price Index (CPI)

You should use the RTB Rent Calculator to calculate the maximum rent increase allowed.

You must send a rent setting notice to your tenant and the RTB on the same day. If you do not send it to the RTB, the rent setting notice is invalid. You must send a statement with your rent setting notice that includes:
  • – The last rent amount.
  • – The date the last rent was set.
  • – A printout from the RTB Rent Calculator showing how you calculated the new rent.
If re-setting to market rent is allowed You can use the RTB Rent Price Register to set rent at market rent for a new tenancy.

You must send a rent setting notice to your tenant and the RTB on the same day. If you do not send it to the RTB, the rent setting notice is invalid.

You must send a statement with your rent setting notice that the rent is not above market rent. To prove this, it must include details of rent paid for three tenancies in similar properties from the RTB Rent Register.

Your three examples must be for properties of a similar size, type and character (including BER). The tenancies must have begun in the last 3 months.

Reviewing rent for a private tenancy

Summary of rent increases allowed

The amount you can increase rent by during a rent review depends on:

  • The date the tenancy started.
  • If you meet the criteria to re-set to market rent.

Use the table below to find the rules that apply to your tenancy.

Annual increases allowed Re-setting to market rent
Private tenancy started before 1 March 2026 – Every 12 months
– 2% or rate of inflation (CPI), whichever is lower 		– Not allowed
Private tenancy started after 1 March 2026 – Every 12 months
– 2% or rate of inflation (CPI), whichever is lower 		– Not allowed
– Allowed at beginning of new tenancy, except after a ‘no-fault termination’
– Allowed at end of 6-year tenancy cycle
New private apartment where construction commenced after 10 June 2025 – Every 12 months
– In line with rate of inflation (CPI). No 2% cap applies.		 – Allowed at beginning of new tenancy, except after a ‘no-fault termination’
– Allowed at end of 6-year tenancy cycle
Student specific accommodation (SSA) – Every 12 months
– 2% or rate of inflation (CPI), whichever is lower 		– Allowed once every 3 years from 1 March 2029
New SSA apartment where construction commenced after 10 June 2025 – Every 12 months
– In line with rate of inflation (CPI). No 2% cap applies.		 – Allowed once every 3 years from 1 March 2029

Reviewing rent for a private tenancy started before 1 March 2026

Annual increases allowed

  • Rent reviews are allowed once every 12 months.
  • You can only increase rent by 2% or the rate of inflation each year, whichever is lower. Inflation is measured by the Consumer Price Index (CPI).
  • You should use the RTB Rent Calculator to calculate the maximum rent increase allowed.
  • You must send a rent review notice to your tenant and the RTB on the same day. If you do not send it to the RTB, the rent review notice is invalid.
  • You must send a statement with your rent review notice that includes:
    • The last rent amount.
    • The date the last rent was set.
    • A printout from the RTB Rent Calculator showing how you calculated the new rent.
    • Details of 3 comparable properties from the RTB Rent Register.

Exception:

In areas that became a Rent Pressure Zone (RPZ) in the last 2 years, the rent cannot be reviewed until 24 months after the date the rent was last set or reviewed for the tenancy. After the first review, rent can then be reviewed once every 12 months.

Re-setting to market rent

There is no re-setting to market rent every 6 years for any tenancy that started before 1 March 2026.

Reviewing rent for a private tenancy started from 1 March 2026

Annual increases allowed

  • Rent reviews allowed every 12 months.
  • You can only increase rent by 2% or the rate of inflation each year, whichever is lower. Inflation is measured by the Consumer Price Index (CPI).
  • You should use the RTB Rent Calculator to calculate the maximum rent increase allowed.
  • You must send a rent review notice to your tenant and the RTB on the same day. If you do not send it to the RTB, the rent review notice is invalid.
  • You must send a statement with your rent review notice that includes:
    • The last rent amount.
    • The date the last rent was set.
    • A printout from the RTB Rent Calculator showing how you calculated the new rent.
    • Details of 3 comparable properties from the RTB Rent Register

Re-setting to market rent every 6 years

  • For new tenancies created from 1 March 2026, a landlord can re-set to market rent once every 6 years.
  • You must use the RTB Rent Register to set rent at market rent for the tenancy.
  • You must send a rent review notice to your tenant and the RTB on the same day. If you do not send it to the RTB, the rent review notice is invalid.
  • You must send a statement with your rent review notice that the rent is not above market rent. To prove this, it must include details of the most recent rent paid for three tenancies in similar properties from the RTB Rent Register.
  • Your three examples must be for properties of a similar size, type and character (including BER, if it applies to the property).

New apartment where construction commenced after 10 June 2025

Annual increases allowed

  • Rent reviews allowed every 12 months.
  • You can increase rent in line with inflation as measured by the Consumer Price Index (CPI). There is no 2% cap in times of high inflation.
  • You should use the RTB Rent Calculator to calculate the maximum rent increase allowed.
  • You must send a rent review notice to your tenant and the RTB on the same day. If you do not send it to the RTB, the rent review notice is invalid.
  • You must send a statement with your rent review notice that includes:
    • The last rent amount.
    • The date the last rent was set.
    • A printout from the RTB Rent Calculator showing how you calculated the new rent.
    • Details of 3 comparable properties from the RTB Rent Register.

Re-setting to market rent every 6 years

  • For new tenancies created from 1 March 2026, a landlord can re-set to market rent every 6 years.
  • You must use the RTB Rent Register to set rent at market rent for the tenancy.
  • You must send a rent review notice to your tenant and the RTB on the same day. If you do not send it to the RTB, the rent review notice is invalid.
  • You must send a statement with your rent review notice that the rent is not above market rent. To prove this, it must include details of rent paid for three tenancies in similar properties from the RTB Rent Register.
  • Your three examples must be for properties of a similar size, type and character (including BER).

When does an inflation-only rent cap apply? 

To increase rent in line with inflation only (with no 2% cap), the tenancy must be in a property where work commenced on or after 10 June 2025 to:

  • Build a new apartment complex or student-specific accommodation.
  • Extend the apartment complex to increase the floor area by at least 25% of its original floor area.
  • Change the building use to create a new apartment complex or building that occupies at least 25% of the floorspace of the previous building.

In all cases, the landlord must have a commencement, or a 7-day notice under the Building Control Act 1990 that was submitted to a building authority on or after 10 June 2025.

What is market rent?

Market rent is the amount a tenant would reasonably pay a landlord for a similar home in a comparable area at the time the tenancy begins.

From 1 March 2026, if you are setting or resetting rent to market rent, you must be able to show that:

  • The rent is not higher than rents for comparable properties in the area, and 
  • The rent reflects current local market conditions.

You do this by using the RTB Rent Register and by providing a statement with details of Registered Tenancy numbers for the three comparable properties you used.

Claiming an exemption from rent control rules

Private landlords can claim an exemption from national rent control rules and can set the rent at market rent if:

  • The last tenant ended the tenancy by choice.
  • The last tenancy ended because the tenant breached their obligations. For example, if they did not pay rent.
  • The last tenancy ended because the home no longer met the tenant’s needs.
  • There was no tenancy in the property for at least 2 years (or 1 year for a protected structure).
  • The last tenancy ended for substantial renovation and the landlord has offered it back to the previous tenant. The property must have undergone ‘substantial change’.
  • It is the end of a 6-year Tenancy of Minimum Duration for a private tenancy that began from 1 March 2026.

If a landlord wants to claim an exemption, they must complete Part D of the rent setting or rent review notice.

What counts as ‘substantial change’

There are strict rules about what ‘substantial change’ means. To claim an exemption from rent control rules, you must meet one of the requirements below:

  • A permanent extension that increases the floor area by at least 25%.
  • Work that improves the Building Energy Rating (BER) by at least 7 levels.
  • Work that achieves three of the following:
    • The internal layout is permanently changed.
    • The dwelling is adapted for use by a person with a disability.
    • The number of rooms is permanently increased.
    • A BER of D1 or lower is improved by at least three levels.
    • A BER of C3 or higher is improved by at least two levels.

Important notes about exemptions

If you claim an exemption, it only applies to the first rent setting or rent review after you claim it. It does not permanently exclude the property from national rent control rules.