Rent increase, how long for notice?

bacon? · 22-01-2014 6:11pm #1

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

Baby01032012 · 22-01-2014 6:25pm

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

bacon? · 22-01-2014 6:29pm

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?

Baby01032012 · 22-01-2014 6:30pm

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.

Baby01032012 · 22-01-2014 6:32pm

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

bacon? · 22-01-2014 6:36pm

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.

Baby01032012 · 22-01-2014 6:48pm

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

djimi · 22-01-2014 7:21pm

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

runawaybishop · 23-01-2014 2:35pm

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?

Rent increase, how long for notice?

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