Should we sign another one year lease?

oconnoao

Hi all,

I'm coming to the end of a one-year lease with three others. We're all happy to continue living there at present and the estate agent has been in contact to say we can do so on a rolling monthly lease which suits me fine. However one of my housemates is insisting on signing another one-year lease, arguing it's more secure legally (ie the landlord could tell us to move out at a months notice)

Is he right to insist on signing another year? I'm worried that we'll lose our deposit if circumstances change and we have to break the lease.

Thanks

djimi

Its up to you, but legally a landlord can only terminate the tenancy for a specified number of reasons, and with 42 days notice (assuming you have been there between 1-2 years). There is no such thing as a rolling one month lease; its a called a part 4 tenancy. Details outlined here: http://www.citizensinformation.ie/en/housing/renting_a_home/types_of_tenancy.html

Whether you want to remain on a part 4 tenancy or sign a further fixed term lease is up to you. A fixed term lease would give you more security but less flexibility.

One advantage of a fixed term lease is that if no rent review is mentioned at the time of signing the lease then the rent cannot be reviewed until the lease expires. With no lease in place the rent can be reviewed once in a 12 month period (so it could happen at a later date during the year if not mentioned at the start of the year). This could be important with the new charges for landlords/home owners having come into effect.

hfallada

If you live in an area that there is rising demand and therefore a possible rent increase. I would sign the lease to ensure you get your current rent for another year. Otherwise your rent could be increased with only 30 days notice

gaius c

hfallada wrote: »

If you live in an area that there is rising demand and therefore a possible rent increase. I would sign the lease to ensure you get your current rent for another year. Otherwise your rent could be increased with only 30 days notice

Rent reviews can only happen once every 12 month period.

Penguino

Why not try to get a 6 month lease

Koptain Liverpool

I wouldn't bother getting one if you all aren't sure for definite that you'll want to live there for the full year. If you are sure of this however then you'd be better of getting one

Scrag

Why don't the four of you get together and buy a house in Tyrellstown . They have never been cheaper. For €40,000.00
each you can buy a 4 bedroom house on the Boulevard, will have a room each and the rent will be an asset of yours rather than a landlords.

babaracus

Scrag wrote: »

Why don't the four of you get together and buy a house in Tyrellstown . They have never been cheaper. For €40,000.00
each you can buy a 4 bedroom house on the Boulevard, will have a room each and the rent will be an asset of yours rather than a landlords.

Have you a house to sell in Tyrellstown old sport?

murphaph

gaius c wrote: »

Rent reviews can only happen once every 12 month period.

That doesn't negate his post? If a rent review hasn't been carried out in the previous 12 months then one can take place any time under a Part IV tenancy. With the lease, the rent is fixed until the lease expires. That was his point.

The Spider

Scrag wrote: »

Why don't the four of you get together and buy a house in Tyrellstown . They have never been cheaper. For €40,000.00
each you can buy a 4 bedroom house on the Boulevard, will have a room each and the rent will be an asset of yours rather than a landlords.

Go back and reread what you've posted, seriously these lads (girls) are in a house share, it's probably an arrangement that they don't see long term, and you want them to commit to buying (your?) a house together and be bound together for the forseeable. I'll admit I think house prices are on the rise, but I could be wrong what happens to these folks then, seen lots of this in the boom.

Only buy a house on your todd, or with someone your sleeping with, is a general rule of thumb!

the_syco

oconnoao wrote: »

However one of my housemates is insisting on signing another one-year lease, arguing it's more secure legally (ie the landlord could tell us to move out at a months notice)

If you go for another years rent, haggle the price down, or it's not really worth your while.

Muahahaha

oconnoao wrote: »

Hi all,

However one of my housemates is insisting on signing another one-year lease, arguing it's more secure legally (ie the landlord could tell us to move out at a months notice)

Is he right to insist on signing another year? I'm worried that we'll lose our deposit if circumstances change and we have to break the lease.

Thanks

Don't forget that a landlord can get out of a lease by saying that they are going to use the house for a family member so when they have that card up their sleeve you really never had any security to begin with.

djimi

Muahahaha wrote: »

Don't forget that a landlord can get out of a lease by saying that they are going to use the house for a family member so when they have that card up their sleeve you really never had any security to begin with.

No they cant. Certainly not if its not specifically written into the lease. Even when its written into the lease nobody seems to be sure if its legally binding.

gaius c

Muahahaha wrote: »

Don't forget that a landlord can get out of a lease by saying that they are going to use the house for a family member so when they have that card up their sleeve you really never had any security to begin with.

You're mixing it up with a part 4 tenancy.