Increase rent before RPZ or wait and hope for the best?

ConcernedRPZ

I've a house in Limerick near the University. The 8 students I have living there have been there since September 2016 (although some have assigned their leases over that time, but the core group of 4 are the same and two are the kids of a family friend).

I have always lowered the rent during the summer to keep good students. I'm terrified of getting the type who'll trash the place so when good students I try to get them to stay or find a friend to go in instead when they leave. It's worked so far.

I'm wondering what I should do this year? I've heard rumblings that Limerick will be turned into an RPZ like Dublin and I'll be limited to a few percent. To be honest I'm probably about 5% below market, but I've been happy with that. I think I could raise the rent now, as I didn't bother with a lease given how long they've been there, and I haven't raised it since 2016.

Is Limerick likely to be made into an RPZ? If so, should I raise the rent now, even at the risk of losing the tenants, because I don't want to be tied into a low rent. If I lower it during the summer, and the 4% rules come in then, will I be trapped at the discount rate?! Will I get some warning?

Pkiernan

The whole country will be made an RPZ at the next Tenancies Bill.

ConcernedRPZ

Pkiernan wrote: »

The whole country will be made an RPZ at the next Tenancies Bill.

I hasn't heard that? When is this Bill to come in? Is it possible to read it?

You'd think the media would cover this kind of thing. Huge anti-landlord bias.

L1011

Murphy's bill is getting media coverage, but the media only care about what gets clicks and share these days and that means the tenancy terms elements are all that really gets covered

I can't see any logic in not increasing to the allowable amount when possible these days, until some more structured system comes in - or no system at all

ConcernedRPZ

L1011 wrote: »

Murphy's bill is getting media coverage, but the media only care about what gets clicks and share these days and that means the tenancy terms elements are all that really gets covered

Where is the term that turns the whole country into an RPZ. I found the bill but I can't see that in it at all. I'm not allowed to link here.

3DataModem

I am not advocating illegal activity, however;

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rightmove

3DataModem wrote: »

I am not advocating illegal activity, however;

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It's a joke , surely someone will challenge this unconstitutional measure(rpz). I heard James o reilly on about encouraging old ppl to move and get property for families to buy or rent. Why not stop pushing the landlords out of the market first....clowns. I will never rent a house out again...burnt too bad