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Rental increase

  • 13-05-2018 6:57pm
    #1
    redmgar
    Registered Users, Registered Users 2 Posts: 680 ✭✭✭


    We have our house rented out to a tenant coming up to 2 years. It is not in the rent pressure zone and vastly undervalued. Due to an increase in our mortgage payments we need to increase the rent. Do we just send the tenant a letter? Also is there a certain percentage increase limit?


Comments

  • #2
    Samuel T. Cogley
    Registered Users, Registered Users 2 Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    If it's not in a RPZ, then there is no fixed percentage, but you can't IIRC increase beyond market value.


  • #3
    Heebie
    Registered Users, Registered Users 2 Posts: 1,302 ✭✭✭Heebie


    I think there is a minimum notice period under law, and there might be one specified in whatever lease is in-place. (You probably checked there already)


  • #4
    GGTrek
    Registered Users, Registered Users 2 Posts: 834 ✭✭✭GGTrek


    redmgar wrote: »
    We have our house rented out to a tenant coming up to 2 years. It is not in the rent pressure zone and vastly undervalued. Due to an increase in our mortgage payments we need to increase the rent. Do we just send the tenant a letter? Also is there a certain percentage increase limit?

    OP it is not just sending a letter. There are a ton of rules nowadays to prepare and serve a rent review. Please check this post to get an understanding of what is needed: https://www.boards.ie/b/thread/2057842447#106175128


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