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Rent increase to market rate

  • 26-01-2020 9:40am
    #1
    Midlife crisis man
    Registered Users, Registered Users 2 Posts: 133 ✭✭


    I've been renting this place for years and at the moment I'm paying under market rate (its covering his mortgage). I have a good standing relationship with my LL (we've been friends years). The house is in an rpz. Can the landlord just bump up the rent hundreds to market rates? I'm not sure if I can afford it. I've never had a rent increase in this place. Does he just have to put it up 4%


Comments

  • #2
    handlemaster
    Registered Users, Registered Users 2 Posts: 6,003 ✭✭✭handlemaster


    Midlife crisis man wrote: »
    I've been renting this place for years and at the moment I'm paying under market rate (its covering his mortgage). I have a good standing relationship with my LL (we've been friends years). The house is in an rpz. Can the landlord just bump up the rent hundreds to market rates? I'm not sure if I can afford it. I've never had a rent increase in this place. Does he just have to put it up 4%


    Does he have to ?not at all. Does he want to ?

    As it's been unrate for I'd assume.for more than the 2 years he can up it alot more. Calculater is on the rtb site.


  • #3
    Midlife crisis man
    Registered Users, Registered Users 2 Posts: 133 ✭✭Midlife crisis man


    I'll check out the calculator. A 4% increase would be fine. To bring it to market rates would be a lot more than 4%


  • #4
    handlemaster
    Registered Users, Registered Users 2 Posts: 6,003 ✭✭✭handlemaster


    Midlife crisis man wrote: »
    I'll check out the calculator. A 4% increase would be fine. To bring it to market rates would be a lot more than 4%

    What is your FRIEND asking for?


  • #5
    Graham
    Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭Graham


    Input your details into the RTB calculator here:

    https://onestopshop.rtb.ie/calculator/rpz

    If your rent hasn't been increased in many years the permitted increase is going to be more than 4% but the increase is unlikely to be to full market rate.


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