Ireland’s biggest private landlord is asking tenants for two months’ rent as a deposit.
The move by Irish Residential Properties Reit (Ires Reit), which owns 2,400 apartments in greater Dublin, adds to the rapidly growing financial pressure on people looking to rent in the private sector.
Ires Reit charged an average of around €1,500 a month in rent on its property portfolio, according to figures published last year. For tenants, that means finding over €3,000 to pay up-front as a deposit along with about €1,500 in rent for the first month before moving into their home.
And rents are rising, especially in the capital. 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.
While Ires Reit ran a special “move-in incentive” at the 68-apartment Maple, – under which people moving into the scheme