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Renewing lease

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  • 13-12-2011 1:08pm
    #1
    thebourke
    Registered Users Posts: 1,317 ✭✭✭


    My lease is up for renewal next week.
    the landlord wants me to sign renew the lease.
    Do you think its worthwhile asking for a rent reduction.
    Currently paying 800euro for a 2 bed terraced house in Dublin 12.
    what do you think?


Comments

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    #2
    Catxscotch
    Registered Users Posts: 371 ✭✭Catxscotch


    Its always worth asking for a reduction. If you cant get one, make sure your new lease has a get-out clause,(i.e.1 month notice to terminate) if you are short on cash, keep your eye open for somewhere cheaper.


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    #3
    odds_on
    Closed Accounts Posts: 1,869 ✭✭✭odds_on


    As you are staying in the property for another year or so, it is worth asking, especially as it is the end of the lease and if you decided to leave, the property would probably go un-let for a month or more thus costing the landlord a loss of rent.

    You do not have to sign a new Fixed Term lease. Remember that with a fixed term lease you are basically tied into it for the duration of the term. Should you have the misfortune to lose your job or other reason that might cause you to move to another part of the country, you will have the difficulty iof assigning the lease and may lose your deposit if you fail to assign the lease.

    As you have been in occupancy for more than six months you have automatically acquired Part 4 rights. The landlord cannot refuse a request for a Part 4 lease, but you should have advised the landlord that you wanted a Part 4 lease between 3 months and 1 month prior to the end of your fixed term lease (this is basically so that the landlord does not go to the expense of advertizing the property to be let after the your lease finishes).

    You could opt for a Part 4 lease which gives you the right to stay in the apartment for a total of 4 and a half years. If you want to leave, you only have to give the appropriate notice period (the longer you have been in occupancy, the longer the period (for between 1 and 2 years the legal notice period is 42 days though the landlord may accept less).

    However, the landlord can also terminate a Part 4 lease under several conditions, the two main ones are:
    1. If he wishes to sell the property
    2. If he wants the property for his own use or that of a family member.

    It is up to you to decide which lease is the most beneficial for you.

    If you do not sign any lease, you automatically acquire a Part 4 lease.


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