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The Residential Tenancies (Miscellaneous Provisions) Act 2026 has brought in changes for private residential tenancies which come within the scope of the Residential Tenancies Board (RTB). This would include tenancies supported by the Housing Assistances Payment (HAP) or the Rental Accommodation Scheme (RAS). Residential tenancies which commenced prior to the 1st March 2026 will continue to operate as usual under the old rules.

Here we focus on the implications most relevant to pension properties and do not purport to address all matters applicable to the interests of the personal private landlord, bearing in mind that Revenue pension rules would not permit property to be diverted to personal use.

We hope to receive further guidance from the RTB as to how pension trusts will be viewed for the purposes of the provisions.

The Act aims to ensure greater security of tenure for tenants in relation to leases commencing on or after the 1st March 2026 with:

1. Restrictions on the circumstances in which landlords may terminate leases.

2. The introduction of tenancies of minimum duration (based on 6-year rolling cycles), new rent setting and review provisions (allowing landlords in certain circumstances to reset rents to market rents).

1. Terminations

All landlords have the right to terminate a lease at any time due to a tenant’s breach of obligations under the lease or where the dwelling is no longer suitable to the accommodation needs of the tenant and any person residing with him/her. There is also a six-month period from the creation of leases where the landlord may terminate a lease for any reason and this continues to apply.

For leases that commence on or after 1st March 2026, the legislation removes or restricts some of the grounds for termination which were previously available.

• Landlords who are companies and/or landlords who have four or more tenancies will no longer be able to terminate a residential lease where the property is to be sold. Landlords who have less than three properties are not entitled to terminate a lease on the grounds of sale during the 6-year cycle unless in the case of specific hardship but they can terminate on the grounds of sale at the end of the tenancy’s 6-year cycle.

• Landlords who are companies and/or landlords who have four or more tenancies will no longer be able to terminate a residential lease where they plan to substantially refurbish or renovate the property or where they plan to change the use of the property. Landlords with three or fewer properties may do so but only at the end of the tenancy’s 6-year cycle.

Sales of residential properties with sitting tenants are likely to become more common but where a private residential lease commenced before the 1st March 2026, the landlord still has the right to terminate that lease on the grounds of sale or refurbishment. That options will continue to be available unless an entirely new lease is put into place.

2. Tenancies of Minimum Duration/ The Introduction of New Rent Setting and Review Provisions

The Act has introduced the concept of Tenancies of Minimum Duration (TMD) for private residential tenancies commencing on or after 1st March 2026. These leases will be subject to 6 year rolling cycles (provided a period of six months has elapsed from the commencement of the lease). Rents can be reset to market rent at the end of these cycles and possibly at earlier points. This would be beneficial to landlords in situations where rent had been restricted under the old rules to less than market rent.

For a new lease commencing on or after 1st March 2026 the rent can now be reset to market rent where any of the following situations apply:

• Where the previous tenancy was terminated by the tenant.

• The property has not been let during the period of two years prior to the tenancy (or one year in the case of a protected structure).

• The landlord had terminated the previous tenancy on the grounds of tenant breach or unsuitable accommodation for needs of tenant.

A reset to market rent at the outset of a residential lease commencing on or after 1st March 2026 will not always be permitted. Where none of the above circumstances apply and where for instance the previous tenancy was terminated on the grounds of sale/requirements by a family member, a reset to market rent will not be available. The legislation is designed to avoid incentivising the termination of leases on these grounds. Careful enquiries should be made when purchasing a property to ensure that landlords are aware of what restrictions apply with regard to the setting of rent for a new tenancy.

Where a reset to market rent is not applicable, the setting and review of the rent is restricted based on a new formula introduced by the Act. The new formula allows rents to be increased by the relevant percentage (currently 2% per annum) or the CPI (All Items Consumer Price Index Number) increase whichever is the lower. The relevant percentage part of the restriction will not however apply to student specific accommodations or to new apartments where works commenced post 1st June 2025 (subject to additional conditions) so that only CPI will be relevant.

It is to be noted that under the old rules, rent restrictions are linked to HICP (Harmonised Index of Consumer Prices) as opposed to CPI (All Items Consumer Price Index numbers).

Rent reviews for subsisting leases which have commenced on or after 1st March 2026 can be reviewed at most once a year in accordance with the above formula unless it is at the end of a 6-year rolling cycle at which point reset to market rent will be permitted. Rent reviews for student specific accommodation are however only allowed once every 3 years from 1st March 2029.

Conclusion

Landlords still retain the right to terminate a lease for the breach of tenant’s lease obligations and where the property is no longer suitable to the accommodation needs of the tenant. It also continues to permit terminations during the first six months of any new lease.

For those landlords with leases commencing prior to 1st March 2026 the previous rules apply and in terms of sale the landlord will still have the option to sell with vacant possession until such time as there is a break in that lease and an entirely new lease commences.

The Residential Tenancies (Miscellaneous Provisions) Act 2026 seeks to improve security of tenure for tenants and this goal is compatible with the purposes of pension scheme property investment as long-term performing tenancies are at the core of this kind of investment.

The Act will make sales with sitting tenants a more common feature of the Irish property market. This also aligns with pension property investment since the tenancy rather than vacant possession will be an important factor for a prospective investor.

The new rules implement changes which are beneficial to tenants but will also benefit landlords by allowing the reset of rents to market level. Investment in residential property therefore remains an attractive proposition for pension investors.

Whether you already hold a property in your pension or you are considering investing in property through your pension, you should discuss the new rules with your financial advisor so that they can assist you with formulating the right investment strategy for you.

Angela Glynn, ITC Solicitor