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Best options for rent review

  • 05-12-2017 12:40pm
    #1
    Aye Bosun
    Registered Users, Registered Users 2 Posts: 349 ✭✭


    Question for all you boardies out there.

    Tenant move in 15/2/16, informed me at least inspection that they had brought a house and expected to be moving in the new year. No notice received yet as they are doing work on the new place before they move in so were unsure of the exact date they be leave. No problem there, we've a great relationship.

    My question is around rent reviews, now with the RPZ, it would be crazy not increase by 4% at the end of 2 years if the these tenants have not given notice to terminate by the 15/2/18.

    1. When can we issue a notice of rent review, I know it's ninety days notice but can that be done in advance of 15/2/18 or does it have to after that date.

    2. If we can increase the rent for current tenant by 4% in Feb and they leave in say April 2018 and new tenants move in, we can't review the rent for new tenant as there must be 12 months between rent reviews. But when can we review the rent for new tenant, ie 12 months after the last rent review or because it's a new lease 12 months after the new tenancy started?

    Just trying to work out if it's worth it for the current tenant, which we don't want to as they have been great tenants but with the current legistation we don't want to be left behind market rate, which in the 2 years since current tenancy has started we're about €200 under market rate for the area already and the 4% increase does not bring us in line with market rate.

    As a side question, I'm speaking about a rent increase in the above, But with the current legisation in mind if I wanted to review the rent and decrease it, would I be allowed? ie. rent review 15/2/18, on 15/8/18 we decide to decrease the rent for whatever reason, are we restricted from doing so as there has not be 12 months between reviews. Just wondering if it works both ways!


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