The State’s largest private landlord, Irish Residential Properties Reit, said the first quarter of the year showed strong trading as the State’s new rental rules came into effect.The company said demand for its rental accommodation continued, with its portfolio effectively fully occupied in the three months ended March 31st. Margin was 78 per cent in the period, with rent collections of more than 99 per cent. The three-month period also saw Ires Reit’s first acquisition in a number of years, with the company hammering out a deal to buy 77 high-quality apartments for almost €32 million. New rent regulations introduced on March 1st are also expected to be a positive contributor to the company’s portfolio performance over time, it said, with the first month of operation in line with expectations. The Residential Tenancies (Miscellaneous Provisions) Act 2026 brings in a number of new rules, including tenancies that last a minimum of six years. Ires said the new rent rules, alongside the Government’s housing plan, taxation changes in Budget 2026 and proposed amendments to the sustainable design standards, have increased activity in the market, providing a “constructive backdrop” for its portfolio development. Chief executive Eddie Byrne said the company was “encouraged” by the current and future prospects for the business. “The new regulations are already having a positive impact on market conditions with improved activity in the development space, an increase in international capital being allocated to Ireland and a significant increase in transaction volumes relating to apartment blocks,” he said. “In highly uncertain geopolitical times, we believe our business has demonstrated very strong defensive characteristics, including a strong balance sheet, below market rents and a highly responsive and adaptable internally managed operating platform.” Ires is holding its annual general meeting today.