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Can I change Rent to owner occupied then to rent again

  • 28-10-2021 5:48pm
    #1
    Registered Users Posts: 466 ✭✭ DulchieLaois


    Can someone given me some advise, can someone buy an investment property, change it to owner occupied and live in it and then revert back to rent but increases the rent rather than the standard 4% per year.

    Any help would be appreciated



Comments

  • Registered Users Posts: 14,306 ✭✭✭✭ jimmycrackcorm


    Yeah but no. you can buy a property and then it becomes your principal residence. After a year you can rent it out at market rates, but subsequently, it is bound by the rent increase rules. you'd have to prove it's your PR though, which might be difficult if your existing residence is that.



  • Registered Users Posts: 466 ✭✭ DulchieLaois


    honestly, thanks for your response…i am all new to this, so I am learning…I am hoping to buy a property for investment - rent is about 500 euros off what it should be so I want to learnt , how to go about increasing the rent within a rent freeze zone..I don’t mind not renting the place for a year.



  • Registered Users Posts: 2,899 ✭✭✭ Sarn


    You need to wait for two years before you can get market rent. Note that the annual increase is no longer 4% but is related to inflation (HICP inflation restrictions).



  • Registered Users Posts: 466 ✭✭ DulchieLaois


    Just to clarify so I am on the same page - Is that 2 years of the property not being rented ?

    so I can bypass the rent freeze scenario


    just want to double check



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