Residents in 17 Dun Laoghaire apartments in Co Dublin have been served notice to leave.
Residents in St Helen's Court say they are suspicious of plans to upgrade their homes in Dun Laoghaire.
They have been ordered to vacate on various dates to facilitate the works to alarms, walls, electrics, floors and tiles.
Tenants have been told they will then have the chance to re-rent the apartments, but subject to certain conditions.
It is understood two so-called 'vulture' funds tried to hike rents two days before the 4% cap on increases came into force.
Landlords can legally raise rents beyond the 4% limit if extensive refurbishments are made to a property.
People Before Profit is calling on the Government to intervene, claiming the companies are trying to exploit the loophole.