icarus_67 wrote: » Sure how else can a landlord increase the rent in this situation? It is up to me to increase the rent if it is within the open market rate of rent in the area. The tenant pays the current rent through a combination of their own income and what they get via HAP. If I want to increase the rent and the tenant is unable to pay I would imagine I have grounds to tell them to leave? They can't just stay there indefinitely?
mrslancaster wrote: » You can increase to market rates outside of RPZ within certain timeframes. If the tenant cant pay the new amount then presumably they would need to find somewhere else to live that they can afford.
icarus_67 wrote: » Well that what I thought at first but then someone mentioned the following:Tenancies commencing after the 24th December 2016 For tenancies that began after the 24th of December 2016, after the first 6 month probationary period of the tenancy, the tenant secures the right to remain in the property for a further five and a half years and the tenancy is referred to as a 'Part 4 tenancy.' Which means that they can just remain in the property even after I've served them a notice of eviction.
The Student wrote: » If you serve an eviction notice and all is correct and everything is OK with RTB they can't stay for 5 and a half years. The above gives them certain rights but not cart blanche rights.
icarus_67 wrote: » So I'm actually not really losing any money in the end?
lawrencesummers wrote: » Do you have an accountant? You should and if not you need to get one, I can recommend one if you want by PM. You will need to file a return for the rental income which the revenue sees as taxable income. You have to pay tax on all rental income at whatever rate of tax you pay. You can reduce the liability a few ways, the interest paid on the mortgage being the main one for most people, and any qualifying expenses for the house so repairs and maintenance.
icarus_67 wrote: » Thanks for your helpful reply. See that's the thing - I don't think the expense of installing new vents etc because of new building regulations in a property that I own constitutes as either repairs or maintenance. What do you think?
icarus_67 wrote: » So if I increase the rent to the maximum open market value and they can't pay then I would have grounds to have them evicted? And the RTB would be on my side? I assume I would have to give them a notice period based on how long they have stayed in the property.
Deleted User wrote: » Icarus_67, is this a parody or a troll thread? In a very short space of time you've asked so many questions that are so basic and fundamental to the role of being a landlord that it's either shocking or a wind-up.
icarus_67 wrote: » They are not basic questions. I still haven't found out whether I can get a deduction on my taxes based on the expenses incurred on installing things related to the new building regulations. They may or may not be considered repairs and maintenance.
j
icarus_67 wrote: » There are huge windows in the living room. I don't understand why I need to spend money on a vent when there are windows that can do the same job? It's overkill and costly.
lawrencesummers wrote: » j You can. Do you have an accountant to file a return for you?
icarus_67 wrote: » Not always no? The house I'm currently in and the house I grew up in never had vents in each room. It's total overkill. Normally people would open a window when they need to to let fresh air in. A new vent in each room would cost 250 Euros each approximately. It's crazy.
icarus_67 wrote: » I'm not interested in hiring you as an accountant as I already have one
Mad_maxx wrote: » should not cost anywhere near 250 each
icarus_67 wrote: » I'm not interested in hiring you as an accountant as I already have one and I'm not sure whether you are qualified to know whether it can be deducted or not. I have a feeling it is not considered deductible as it doesn't specify it on Revenue.ie.
icarus_67 wrote: » Really? How much do you think they would cost to install? The vents themselves seem quite cheap in fairness when I looked them up online....
icarus_67 wrote: » Where does it say that a landlord can be fined 5000 Euros for non compliance? EDIT: Wait I see it mentioned at the bottom of the regulation PDF document. I still can't imagine that kind of thing being enforced. I've heard of people on Boards that ignored the letter that stipulates improvements that need to be made. A year or more passed and nothing has happened.
lawrencesummers wrote: » I’m not an accountant. Just trying to be helpful. But be ignorant and ignore the answers you were given if you want. Best of luck, with your attitude your going to need it.
Mad_maxx wrote: » A bit of four inch wavin pipe through the hole in the wall ,where is the expense bar paying guy with core drill and the vent ends you screw to the wall at each side? Bar drill guy , less than 20 quid in materials per room ,probably less
icarus_67 wrote: » How much would you think it would actually cost a guy to call over to drill the holes and install the vents? Are we talking maybe 200 to 300 Euros for the job excluding the cost of the materials?
icarus_67 wrote: » Apologies for my rudeness it's just that in the past people have aggressively given me advice about a certain thing on Boards and other forums and then eventually I find out down the line that they were actually trying to sell me something. It seems that you weren't one of those people at all and I'm very sorry for my rudeness especially considering you were trying to help me. I do appreciate the help very much.
TheChizler wrote: » You might get roughly half the cost back
icarus_67 wrote: » That's really interesting that you didn't have to put child locks in. That would mean there was some discretion involved.
icarus_67 wrote: » I don't understand....who inspected your house in the first place if the tenant wasn't on HAP?
ztoical wrote: » This was 2018 so childlocks might have been added after that, don't know. No longer renting out house so don't care. House was rented to single person, maybe that was a factor, again don't know or care. I wasn't there for the inspection in person, just had the report sent to me. Council inspected it, doesn't have to be on HAP for local authorities to inspect. All rentals except Holiday homes can be inspected. For HAP the council has to do the inspection in a set time frame (think its first 8 months), for other rentals they have a planned list they go through, house was rented out 6 years before they did inspection.