Ires Reit says the State’s new rental rules have “unlocked” capital as it reported an increase in earnings for the six months to the end of June.The publicly listed company said revenue increased by 1.1 per cent to €43.1 million for the period while profit before tax jumped to €48 million up from €16 million in the previous period.Like-for-like annualised residential passing rent increased by 2.1 per cent, which it said reflected “the permitted rental growth across existing tenancies and the portion of units that have turned over since March 1st reset to market rents”.The new rent legislation, which came into force in March, overhauled the former rent pressure zone (RPZ) system, allowing landlords to reset rents to market rates between tenancies.The group said average monthly rent increased by 1.7 per cent to €1,884 aided by a strong letting performance in the first half of the year. Ires said it had 3,611 residential units at the end of June - up marginally on last year with an occupancy rate of 99.4 per cent. “The first six months of 2026 have seen I-RES continue to build on the strong progress delivered in 2025, with further operational momentum, continued disciplined cost management alongside a focus on growing earnings and creating shareholder value,” Chief executive Eddie Byrne said.The new rental regulations represent a significant and welcome step forward for the Irish property rental sector, he said.“It provides much-needed certainty for residents, operators and investors, improving the outlook for investment returns and creating a more supportive environment for the delivery of new rental accommodation,” he said.“The revised framework has unlocked renewed capital flows into the sector, which should improve development viability over time and support a healthier, more sustainable rental market,” Byrne said.