Fixed term lease vs part 4 agreement

mike_cork

Hi,
I've been renting my current property for 3 years.
Received a letter last week informing me that the landlord wishes to increase my rent by 60 euro pm.
The letter also asked me if I wished to either sign a year long fixed term lease or a part 4 agreement.
Could anyone advise what the best route to take is?

davo10

mike_cork wrote: »

Hi,
I've been renting my current property for 3 years.
Received a letter last week informing me that the landlord wishes to increase my rent by 60 euro pm.
The letter also asked me if I wished to either sign a year long fixed term lease or a part 4 agreement.
Could anyone advise what the best route to take is?

Firstly, if you haven't had a rent increase within the last two years and the LL can show that the market rate is the increased amount, then with the correct notice he/she is entitled to increase the rent.

Secondly, you currently have Part4 rights but after 4 years the LL can terminate your lease without having to give a reason so by signing a new lease it may prevent you from being evicted at the end of this tenancy 4 year cycle.

mike_cork

Hi Davo,
Yeah i wouldnt argue about the increase tbh as my rent hasn't increased since i've lived here.
In the letter i was provided,the landlord provided 3 examples of similar properties where a higher rent level exists.

What am i worried about is the lease.The landlord has advised me the new agreement will come into effect from december 5th.But im not sure what is the safest option?

dennyk

Depends on the exact terms of the lease. A fixed term lease might give you a bit more security, depending on what, if any, break clause options are provided for the landlord. However, it would also lock you into a full year's lease as well (again, depending on whether there is a break clause allowing you to terminate).

If you just elect to remain under a Part 4 tenancy, you can end the tenancy at any time with the notice period required by law, but the landlord can also end the tenancy at any time with notice, provided it is for one of a few specific reasons (if he or his family member intend to occupy the property, or if he intends to sell the property within the next few months, or if he intends to renovate the property substantially).

Either way, as you have been there for three years, your Part 4 tenancy rights will expire at the end of the next (fourth) year and you'll enter a further Part 4 tenancy, so the landlord can terminate your tenancy within the following six months for any reason (unless you sign a fixed term lease at that point, in which case he'd have to abide by the lease terms).

mike_cork

A bit of a conundrum so based on the info above
Not sure what to do since a fixed term would lock me into a 12 month contract by the sounds of it.

Baby01032012

davo10 wrote: »

Firstly, if you haven't had a rent increase within the last two years and the LL can show that the market rate is the increased amount, then with the correct notice he/she is entitled to increase the rent.

Secondly, you currently have Part4 rights but after 4 years the LL can terminate your lease without having to give a reason so by signing a new lease it may prevent you from being evicted at the end of this tenancy 4 year cycle.

But he's there 3 years signing new lease only gets him to end of year 4 so landlord if he wanted could give notice at end of the 1 year fixed to terminate without need to give any reason.

OP I would go with the part IV

Unless there is something in the fixed term that gives you additional rights. Fixed term can't take any of your part IV rights away. Plus part IV gives you flexibility to leave during the year once you've given the required notice. Only you know your own circumstances, wether you intend to stay a year or more.

Either way as your rent has now been reviewed it can not be reviewed for another 2 years. However landlord may terminate without reason in a years time. However fixed or part IV will have no affect one way or another.

mike_cork

Thanks for the advice.
TBH i think continuing down the part 4 route is the way to go based on the info i've seen on the thread!