Can my landlord increase rent if it is already way above market price?

Are you sure? The instructions on the RTB website still say that "The rent amount being set should not be more than that of local market rents for similar properties" but maybe that's not actually in the legislation?

Rent Reviews in a Rent Pressure Zone (RPZ) | Residential Tenancies Board (rtb.ie)

Local market does not just mean the building you are in. It sounds like the landlord kept the rent lower on longer term tenants which they can do . Not clear if the landlord own the entire building but they are no obliged to rent cheaper to you. It appears it was worth it to you at the time and as you can't find another place it still appears to be worth it.

I don't think you have any grounds to dispute the rent. You sound like you feel hard done by but would you feel that way if you were unaware of the rent others are paying in the building? How do you know what the others are paying? I know people who lied about the rent they were paying to other tenants just to annoy the landlord via another tenant or just out of simple mischief.

@Jasper79 'There are more landlords stuck with under market value rents which is also unfair.'

I thought they had all exited the market in a huff and only landlords charging higher rents were left?

I could've sworn I read that on this forum at least 50,000 times.

OP it's extremely doubtful they'll reverse the rent, close to zero chance. Shop around for a cheaper place, especially if you're not under time pressure.

Two years ago was pre-Covid, there was a period when rents dropped as people moved out/home. Rent increases are capped, if the LL is using the correct procedure to raise rent, then there is nothing you can do. Examples of rents in other properties listed today suffice, not what they were listed at a year ago when the other tenants in your building moved in.

You are saying you can't find another place to rent in the area so the rent seems correct. If the landlord was renting at a lower price and in RPZ the rent can't be raised when a tenant leaves. Same building therfore doesn't reflect market rates. It may be that it is unfair the landlord has to rent to them less than you. Would you be happier if the other tenants paid more to be closer to your rent?

Ultimately you decided to pay that rent when offered so your choice. You obviously felt you could afford it and it was worth it at the time. You wanted to know if you could do anything and you got an answer which is no. You can move and probably best you do if it annoys you that much. How would you feel if the landlord upped your rent by €200 after agreeing? You are trying to do the same so I am guessing your word is not your bond. Best move

He can raise the rent if it within market rates and you can do nothing. I see you are a nice person and would rather others pay more so you feel better. If there is too little supply and high demand then you are paying the correct rent. As I said the landlord could be forced to rent lower on other rentals which is actually the unfair bit on the landlord not you. You agreed to pay the rent and you have no proof it is below market rate just others are getting to rent cheaper. It does depend on whether RPZ is in play or not.

You contest it all you like but as already stated rent can be lower around you and not be the market rate while you do pay the market rate and due an increase. You have a lot of misplaced anger and are refusing to listen. The others getting discounted rate does not make that the market rate. The people to be angry at is the government for creating the situation as as pointed out it is unfair on the landlord not you and you have also said you would be happier if others paid more. Instead you could be happy for them instead of being angry about not getting a discount. Best move as soon as you can because the situation is not going to change and the landlord has no obligation to move you to cheaper rent at any point.

The regulations are clear, the LL is allowed to submit examples of rents being charged at the same level as the increased rate. Provided the review is valid, the fact that they have examples by definition means they are not charging “way above market price, the examples are an indicator of market price. There is no onus on the LL to submit examples of rents lower than yours.

Market rent is not just the lowest rent you can find. It’s supposed to be what the market can bear. Do you think there are others who would pay your rent for your apartment? If yes, then it’s not above market rent. Now, of course the RPZ legislation means that many places are rented below market rent (ie they could be rented for more if not for the legislation) but that doesn’t automatically make yours overpriced.

The other thing to remember is that increases are now limited to the lower of inflation or 2% per annum. So even if your landlord increases your rent, the increases will be at or lower than the rate of inflation. In real terms that means your rent is going down relative to everything else. It’ll still be higher than (some of) your neighbours though so you will just have to learn to live with that.