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Rent increase, how long for notice?

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  • 22-01-2014 7:11pm
    #1
    bacon?
    Registered Users Posts: 778 ✭✭✭


    Hi guys, I want to put the rent up for rooms in my house. We're renting 2 double rooms for the past 4 years for 300euro a month. The average in the area is 400.

    I think a hike to 350 is fair, considering the demand is quite high now, it's a very good location and we recently renovated the place.

    How much notice is required? 2 weeks? 1 month?

    Cheers


Comments

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    #2
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    When you say your house are you living there or is it seperate to your PPR?


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    #3
    bacon?
    Registered Users Posts: 778 ✭✭✭bacon?


    Baby01032012 wrote: »
    When you say your house are you living there or is it seperate to your PPR?

    Living there, renting rooms, don't know what PPR is.

    Anyone have advice of fair notice?


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    #4
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    To add, if it is a property that you have let it is governed by the RTA 2004 so 28 days notice is required, rent can only be increased once in a 12 month period and not within 12 months of lease being signed. Must also be at market rate.


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    #5
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    As your living there the RTA doesn't apply. You can increase whenever you want. But to be reasonable id give 28 days notice.


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    #6
    bacon?
    Registered Users Posts: 778 ✭✭✭bacon?


    28 days, thanks. Yes, will still come under the market rate. I rented for 7 years myself, can't stand greedy landlords.

    I expect this will all be going back into the house anyway.


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    #7
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    It's a nice position to be in. I did it years ago when I was single. Rented out 2 rooms in my home. Tax free once it's under €10k a year and you declare it on your tax return.
    Could do with that money now. Married with 2 kids one income and no room to rent out. Those are the choices I make :)


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    #8
    djimi
    Registered Users Posts: 13,238 ✭✭✭✭djimi


    28 days is perfectly fair Id say, but obviously the more notice the better!


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    #9
    runawaybishop
    Registered Users Posts: 9,503 ✭✭✭runawaybishop


    bacon? wrote: »
    Hi guys, I want to put the rent up for rooms in my house. We're renting 2 double rooms for the past 4 years for 300euro a month. The average in the area is 400.

    I think a hike to 350 is fair, considering the demand is quite high now, it's a very good location and we recently renovated the place.

    How much notice is required? 2 weeks? 1 month?

    Cheers

    Surely a hike to 400 would be fair given what you have said?


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