First rental: what type of lease?

nino1

I am renting out our one bed apartment for the first time.
What are the different options for the different types of leases?

Thanks in advance.

nino1

just not sure what the difference (or advantages for the landlord) is between the fixed term and part 4 tenancy?

nino1

Anyone?

rick_fantastic

http://www.threshold.ie/advice/seeking-private-rented-accommodation/advice-on-signing-a-lease/

djimi

1 year fixed term lease would be pretty much standard at the start of a tenancy; it would be quite unusual to enter a tenancy without signing a lease.

odds_on

djimi wrote: »

1 year fixed term lease would be pretty much standard at the start of a tenancy; it would be quite unusual to enter a tenancy without signing a lease.

Just to add to djimi's answer.

A lease may be verbal or written. The problem with verbal leases is that they are difficult to prove - landlord's word against tenant's word.

You have the option of a fixed term lease in which case the landlord may only evict a tenant who is in breach of his obligations. Although a fixed term agreement is for a specific period of time, the tenant, if he wants out, may assign the remainder of the lease to a suitable new tenant. A landlord has no option of recovering his property during a fixed term (except by buying out the lease).

A periodic tenancy could initially be used and the landlord may evict a tenant with 28 days notice at any time during the first 6 months without giving a reason. On the other hand, the tenant may leave at any time with 28 days notice. Therefore, if the property is not to the tenant's liking he can get out easily.

After 6 months in the property (whether with a Fixed term or periodic tenancy), a tenant acquires the right to remain in the property for a total of 4 years. Thus, a periodic tenancy becomes a Part 4 tenancy while the Part 4 tenancy runs along side a fixed term agreement until the fixed term expires after which, the tenant decides if he wants to sign another fixed term or run on a Part 4 tenancy.

If he chooses a Part 4, the landlord has the option of evicting a tenant under one of the grounds open to him under the RTA 2004, while the tenant may vacate at any time by giving the required notice period in writing.

IMO, if you are a good landlord with a good property and no issues likely to happen then an initial periodic agreement would be ideal during the first 3, 4 or 5 months (before the tenant acquires the Part 4 rights). At the end of this short initial period, a fixed term agreement could be used.

However, if the property is not particularly good, the appliances liable to break down etc. the landlord / agent difficult to contact and facilitate repairs then a tenant would obviously vacate - and quite rightly.

focus_mad

odds_on wrote: »

Just to add to djimi's answer.

A lease may be verbal or written. The problem with verbal leases is that they are difficult to prove - landlord's word against tenant's word.
/QUOTE]

A verbal lease is as good as having no lease at all. If it's not written down, it doesn't count towards anything.

odds_on

focus_mad wrote: »

odds_on wrote: »

Just to add to djimi's answer.

A lease may be verbal or written. The problem with verbal leases is that they are difficult to prove - landlord's word against tenant's word.
/QUOTE]

A verbal lease is as good as having no lease at all. If it's not written down, it doesn't count towards anything.

A verbal agreement in which the parties agreed on a fixed term is legal. However, as I said, this can be difficult to prove unless there were witnesses to the agreement.

I have seen, though can't just put my finger on it at the moment, where a tenant had a claim with the PRTB. The landlord's said that he had agreed to a term of 12 months, as he was able to produce many written leases of 12 months and he said that he would never have a lease another than a 12 month fixed term lease. The PRTB accepted the landlord's version.