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Lack of comparables

  • 18-09-2018 6:04pm
    #1
    jimwallace197
    Registered Users, Registered Users 2 Posts: 1,134 ✭✭✭


    Hello,

    I'm looking to raise the rent of my apartment in a location in the west of Ireland. There is a serious lack of comparables in the area, is it ok to use the next town over or a town with similar traits as a comparable for this rental increase. This rental property is not in a rent pressure zone btw. Thanks


Comments

  • #2
    dennyk
    Registered Users, Registered Users 2 Posts: 1,781 ✭✭✭dennyk


    Yes, you can use properties in a similar area (urban, similar-sized town/village, rural) as comparables if there aren't enough properties available in your actual location. Just don't go picking Dublin commuter towns when your place is in the middle of nowhere in Clare or something; make sure they really are comparable in terms of location. Keep it reasonable and your tenant will be less likely to dispute (and less likely to win if they do).


  • #3
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    jimwallace197 wrote: »
    Hello,

    I'm looking to raise the rent of my apartment in a location in the west of Ireland. There is a serious lack of comparables in the area, is it ok to use the next town over or a town with similar traits as a comparable for this rental increase. This rental property is not in a rent pressure zone btw. Thanks

    You have to approach it on the basis that a tenant looking for a rental would consider your comparators as alternatives to yours. If a person can't find accommodation in location x would they consider location Y?


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