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Rent reduction query

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  • 17-02-2016 9:49am
    #1
    pc7
    Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 14,121 Mod ✭✭✭✭


    This is just hypothetical query based on new laws government have brought in (sorry mods if not allowed).
    If I am a tenant and my rent is increased January 2016 under guidelines it cannot be raised again for 2 years. Would the same apply to decreases (say the bottom falls out of the market in 12 months time). Could the landlord argue that its set until January 2018? Now I know in theory tenant could move out should market rates drop and there is not a thing the landlord can do. Just wondering what the 'law' is on it?
    thanks.


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    #2
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    The law covers rent reviews, not rent increases. The rent review process is to help all parties, it allows the landlord increase the rent in a rising market (but not too often) and allows a tenant to request a reduction in a falling market.


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    #3
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    It should be noted that these rules are there where parties are essentially in dispute. Where one side wants to do something. Obviously no LL wants to reduce the rent but if the arse fell out of the market and I had good tenants that came to me and said I can move two doors down for €200 a month less, you bet I'm going to negotiate.


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    #4
    pc7
    Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 14,121 Mod ✭✭✭✭pc7


    I've done it in the past when things went pear shaped and reduced the rent, but if it happened again would wonder could you put them off saying not until the next review. But sure according to the Government the recovery is happening so we are all grand!


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    #5
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    I actually have a query somewhat along the same lines. I know someone who had their rent reduced before Christmas, their rent was already well below market rate and is now approximately half what neighbouring places are going for. It was reduced as a good will gesture as the place was being sold (by the bank) and there would be viewings.

    I was just thinking that if the person really dug their heels in could they argue that constituted a rent review and the rent cannot be raised again for 2 years? This is very hypothetical as they may be asked to move out anyway with the place being sold/new owners moving in as a reason but even for the notice period which will be long as they are there a long time could they argue the rent can't be raised?


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