Landlord asking for 40% increase in rent

Pdoghue

My landlord just asked me for a 40% increase in my rent from the end of June...
2-bed apartment. South Dublin City.

Quite shocked by this..

Can and should I try and negotiate?

Penny Tration

Are you on a fixed term lease? If you are, he cannot increase rent until that lease is over.

What are similar properties renting for in the area? Any increase can only happen once per 12months aand must be in line with market rates.

quadrifoglio verde

Pdoghue wrote: »

My landlord just asked me for a 40% increase in my rent from the end of June...
2-bed apartment. South Dublin City.

Quite shocked by this..

Can and should I try and negotiate?

First of all how long have you been there?
Secondly what's the rent that you're paying and the rent apartment would get on the open market.

The landlord can only raise the rent once in a 12 month period. It can only be raised to market rates.

You can of course negotiate haggle etc with him.
Also you can appeal it to the prtb, if they decide in his favour you've to back pay it.
If the rent hasn't been raised say since 2010 and you were significantly under the market rate then 40% could be plausible. Rent has gone crazy in the city over the last 18 months.

Eldarion

You can and you should of course. Doesn't mean you'll be successful in your negotiations though.

Will the 40% increase bring the rent considerably above current market rates? If it does, then you can appeal to the PRTB. If it doesn't, then the landlord is entitled to charge the market rate.

JohnDx

If I was you I'd find somewhere else, 40% is very high, most other places have only gone up by 10%.

py2006

40% seems quite extreme. Unless of course you are currently pay around 40% below the average.

Your landlord must know you will query this.

Tar.Aldarion

Did you ask to have the washing machine fixed? big mistake.

quadrifoglio verde

JohnDx wrote: »

If I was you I'd find somewhere else, 40% is very high, most other places have only gone up by 10%.

It depends on when he took out the lease. I know two friends of mine who were paying 800 a month between two of them in the city back in 2010. No way you'd get it for that now, or 880 either. 40% rise would be reasonable to bring it up to market rate.

It depends on what the rise brings him up too! If it brings him up to. If it's still cheaper than what a 2bed charges in the area, then there's no point in moving out.

Eldarion

Tar.Aldarion wrote: »

Did you ask to have the washing machine fixed? big mistake.

That would be hilarious if this really is the other side of it.

Pdoghue

Have been there for 2 years (or will be next month), and rent hasn't increased since then. Current rent would be below market rate, but a 40% hike seems unreasonable.

rameire

there was a woman on Today FM Matt Cooper show yesterday around 5pm I think, saying the rents in Ireland Had dropped 40% because of the recession.

Maybe the landlord was listening to this show and said he will have some of that.

noodler

Similar situation OP.

Lease is up at the end of the month and (after much badgering) agency finally admitted they were increasing the apartment's rent by 300 euro (a greater than 20% increase).

They claim there are similar apartments in the complex attracting interest at this price on daft.

Even if I could have afforded it, I would not have paid it so off I go sadly at the end of the month.

beazee

rameire wrote: »

the rents in Ireland Had dropped 40% because of the recession.

Yeah, but 40% drop from say €1200, makes it €720. (-€480)
The following 40% increase brings it back to €1008. (+€288)

Penny Tration

Pdoghue wrote: »

Have been there for 2 years (or will be next month), and rent hasn't increased since then. Current rent would be below market rate, but a 40% hike seems unreasonable.

Is your current rent 40% below market rate? Check what similar properties are advertised for on daft.

Kimbot

rameire wrote: »

there was a woman on Today FM Matt Cooper show yesterday around 5pm I think, saying the rents in Ireland Had dropped 40% because of the recession.

Maybe the landlord was listening to this show and said he will have some of that.

Yeah that was all over the radio yesterday, i was thinking the same when I seen the thread.

quadrifoglio verde

Pdoghue wrote: »

Have been there for 2 years (or will be next month), and rent hasn't increased since then. Current rent would be below market rate, but a 40% hike seems unreasonable.

See what the market rate is. If you want to stay in the area, you're going to have to pay the market rate. The price increase isn't unreasonable if it brings you up to the current market rate.

If he doesn't play ball however and wants 20% over the market rate. you can do one of two things. Bring it to the prtb, or move to somewhere in the area that's cheaper than what he's looking for.

JohnDx

We should all go homeless looks like our government may be given free houses away soon.

padd b1975

Thread needs some numbers from the OP, and a location.

Pdoghue

Dublin 14

Current rent is 1100

Michael D Not Higgins

Pdoghue wrote: »

Dublin 14

Current rent is 1100

So new rent is ~1500? This would be a little on the higher end for the area.

What are you willing to pay? Maybe counter with half the increase, 1300? See what they say.

foggy_lad

Rents seem to be starting from about €1100 around Dundrum/Rathfarnham and rise to about €1600 for more luxurious apartments. Depending on the condition of the apartment and it's location you may already be paying the market rate!

http://www.daft.ie/searchrental.daft?search=1&s[cc_id]=ct1&s[a_id]=pc15&s[mnb]=2&s[mxb]=2&s[pt_id]=1&s[search_type]=rental&s[refreshmap]=1&s[bd_no]=2&search_type=rental&s[sort_by]=price&s[sort_type]=a

Ray Palmer

foggy_lad wrote: »

Rents seem to be starting from about €1100 around Dundrum/Rathfarnham and rise to about €1600 for more luxurious apartments. Depending on the condition of the apartment and it's location you may already be paying the market rate!

http://www.daft.ie/searchrental.daft?search=1&s[cc_id]=ct1&s[a_id]=pc15&s[mnb]=2&s[mxb]=2&s[pt_id]=1&s[search_type]=rental&s[refreshmap]=1&s[bd_no]=2&search_type=rental&s[sort_by]=price&s[sort_type]=a

Or paying 40% below is just as possible

drumswan

noodler wrote: »

Similar situation OP.

Lease is up at the end of the month and (after much badgering) agency finally admitted they were increasing the apartment's rent by 300 euro (a greater than 20% increase).

They claim there are similar apartments in the complex attracting interest at this price on daft.

Even if I could have afforded it, I would not have paid it so off I go sadly at the end of the month.

You badgered them to tell you if they were increasing the rent? Why would you do that?

They have to give you a months notice in writing before increasing the rent, you absolutely do not have to leave at the end of this month.

murphaph

OP: No point in looking at the % increase. All that matters is what the local market rates are and how the new rent compares to those. If it's in line with them, you're snookered and have to pay up or ship out. There should be some room for negotiation, but you are maybe talking €50 below market rate and only if you've been a good tenant.

TimeToShine

I'd say there is room for negotiation.

1300 would be a reasonable compromise and I would be surprised if your LL rejected it.

Greenmachine

TimeToShine wrote: »

I'd say there is room for negotiation.

1300 would be a reasonable compromise and I would be surprised if your LL rejected it.

Come in lower than that. An extra €200 pm is a massive leap in monthly expenses.

Claw Hammer

Greenmachine wrote: »

Come in lower than that. An extra €200 pm is a massive leap in monthly expenses.

Happens to landlords all of the time. Sauce for the goose and all that

drumswan

Claw Hammer wrote: »

Happens to landlords all of the time.

And? They are operating a business. The OP needs somewhere to live, lsight difference.

Tarzana

Pdoghue wrote: »

Can and should I try and negotiate?

If they can get that rent, probably not. Where in South Dublin? So many sought-after areas there.

I've just left a place in Dublin 4, our landlady decided to sell up. We were paying ridiculously low rent, I wouldn't be surprised if our successors pay nearly double what we did.

But as others have said, you're safe until the end of the lease (or relevant 12 month period). Good luck what ever you decide.

Claw Hammer

drumswan wrote: »

And? They are operating a business. The OP needs somewhere to live, lsight difference.

They are in the business of providing places to live. Why should they subsidise their customers?

dolihalix

was it a 2 year lease or have you signed a second one after a year? continuation can do wonders. are you registered with prtb? if he isn't paying taxes you're far more likely to find common ground. or be plain nasty and keep the rent the way it is. I believe he has to give you 60 day eviction notice after 2 years, in the event you can't agree on rent. someone correct me if 2 separate 1 year leases affect this and change it to 30.

side note, I really hope this is just the dead cat bounce but I'm really afraid it isn't..