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'Current Market Value' with limited turnover and mis-matched supply/demand

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  • 12-05-2014 2:34pm
    #1
    tvc15
    Registered Users Posts: 325 ✭✭


    q


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    #2
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    It's what the PRTB says in their latest quarterly review on declared rental prices


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    #3
    rickyjb
    Registered Users Posts: 1,561 ✭✭✭rickyjb


    If a landlord provides written notice of a rental increase based on the fact that "current market value" is supposedly higher than the current rental price what would you recommend as the best course of action?

    I've drafted a letter with an excerpt from the PRTB site showing the current market value which shows that it's actually below what we're paying (although data is not available for our exact circumstances, I've added an extra room to compensate), is this the right course of action?

    Am I obliged to pay the rental increase while disputing it or can I pay the current rate until the dispute is resolved i.e. until I get a response from the letter? I haven't contacted the PRTB or anything yet but it could well go that way.


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    #4
    Clive
    Registered Users Posts: 1,799 ✭✭✭Clive


    If you lodge a dispute with the PRTB, you continue to pay the rent as it stands, but the increase, if approved will be from the date specified by the landlord in the notice.

    The market rent is the rent which the property would attract if it were on the market today, having regard to the terms of the tenancy and the rent of comparable properties.


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    #5
    TheDriver
    Registered Users Posts: 12,513 ✭✭✭✭TheDriver


    sorry Clive, didn't quite catch that??


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