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I'm a landlord. Questions about increasing the rent on my property

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  • 07-12-2016 12:53am
    #1
    darlett
    Registered Users Posts: 2,312 ✭✭✭


    What are the basic responsibilities of a landlord when it comes to increasing rent and what are the right ways to broach it with a tenant?

    I have tenants I very much like and as a result I've let them continue to rent at the rate they started at in mid-2014. Rental prices have shot up in the area and its not my intention to bring them back in line with those as I recognise these are good tenants and I want the house to continue to be good value for them. But I'm thinking of an increase about the third year anniversary if they're still there and wondering how best (and indeed legally) to broach the subject. I used an estate agent as the tenant finder and to draw up the contracts but beyond the tenants moving out with 6 months of the contract(which didn't happen of course) that was as far as their responsibilities went. And if I were to increase would that be locked in as such for 2 years?

    Alternatively I might be considering moving back in relatively soon, in which case I would not go down that route but I'd like to gain better understanding of it.


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