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Rent Reviews

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  • 27-04-2009 6:48pm
    #1
    Eglinton
    Closed Accounts Posts: 992 ✭✭✭


    Has anyone ever included a clause in their leases that rent reviews would take place more often than once a year (if that's allowable)? According to the PRTB, either party is entitled to an annual rent review if required. Speaking from a tenants perspective and given the market circumstances right now, is this something you can do and what are the chances of it being accepted?


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    #2
    bobbiw
    Closed Accounts Posts: 211 ✭✭bobbiw


    you can do it and the end of your lease, you cant do it halfway through a lease because you have entered into a binding agreement.


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    #3
    Eglinton
    Closed Accounts Posts: 992 ✭✭✭Eglinton


    A lease is a binding agreement for the terms of the contract so I was wondering if anyone had ever included a rent review clause similar to a 6 month break clause. You can walk out on a lease if there's a break clause and you give the required notice. Unless there is a statutory reason why a rent review can't be included, has any ever done it?


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    #4
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    As a landlord I wouldn't put such a clause in. Not all landlords are wealthy developers, some of us need to budget too. Plus a 12 month contract with a rent review at 6 months is surely equivalent to a 6 month lease with another 6 month option? The landlord would only have the "security" of 6 months with tenants.


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    #5
    RentDayBlues
    Registered Users Posts: 2,131 ✭✭✭RentDayBlues


    bobbiw wrote: »
    you can do it and the end of your lease, you cant do it halfway through a lease because you have entered into a binding agreement.

    This isn't true - you can ask for a rent decrease during the term of the lease; as you can see a lot of people are doing this and most LL's are agreeing. A rent review can be requested by either party on an annual basis - this doesn't have to coincide with the end of a 12 month lease


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