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Rent Review and Notice

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    #62
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    athtrasna wrote: »
    The risk you're taking by doing that is that if the RTB determine that notice period to be invalid, you're stuck at the current rent for at least another year

    Why would the notice period be invalid though? Isn't it a minimum of 90 days notice which I've complied with? #runs off to check RTB website yet again.


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    #63
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    Now I'm really annoyed at myself. I gave 106 days notice of the increase so that it would tie in with the payment on the 1st of April. I possibly should have let the increase kick in in exactly 90 days instead.


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    #64
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    tradingwizz wrote: »
    I'm adding this edit: The RTB say that if the First Rental is say from 1st January 2015, then the first rental increase can be from 1st January 2017. In this unique case, it means the rent review must be sent at least 90 days prior to 1st January 2017.

    Where do they say this?


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    #65
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    April 73 wrote: »
    Now I'm really annoyed at myself. I gave 106 days notice of the increase so that it would tie in with the payment on the 1st of April. I possibly should have let the increase kick in in exactly 90 days instead.

    You'll be fine, you've done everything by the book. The Act says "at least" 90 days notice.


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    #66
    Shaungoater
    Registered Users Posts: 212 ✭✭Shaungoater


    I feel like this new bill is going to come back to bite me. I rented out my house. The going rate was 1150 at the time, I trusted the tenant, they had a small family and work in retail and I didn't want to see them stuck. So i only charged them 1000. The going rate now is more like 1400, so i was going to put it up in april to 1100 if they wanted to stay. But now i can only put it up 48?


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    #67
    pobber1
    Registered Users Posts: 146 ✭✭pobber1


    Shaungoater wrote: »
    I feel like this new bill is going to come back to bite me. I rented out my house. The going rate was 1150 at the time, I trusted the tenant, they had a small family and work in retail and I didn't want to see them stuck. So i only charged them 1000. The going rate now is more like 1400, so i was going to put it up in april to 1100 if they wanted to stay. But now i can only put it up 48?

    This is is almost precisely my situation except I "own" an apartment. It's currently in €120,000 of negative equity, the new legislation makes it worth less again. Although at €120k of NE what's another 5 of 10k sure? Sigh.


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    #68
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    This post has been deleted.


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    #69
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    Michael D Not Higgins wrote: »
    You'll be fine, you've done everything by the book. The Act says "at least" 90 days notice.

    That's good. Thank you. If the Act says "at least" I should be fine as everything else is by the book.
    I've had no response from the tenants so far but I'm not surprised. If I were them is be waiting to see what the new legislation actually says.
    I suspect this prospective change has spurred a lot of landlords who had been holding fire on rent rises or charging below market rates, into action.


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    #70
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    Shaungoater wrote: »
    I feel like this new bill is going to come back to bite me. I rented out my house. The going rate was 1150 at the time, I trusted the tenant, they had a small family and work in retail and I didn't want to see them stuck. So i only charged them 1000. The going rate now is more like 1400, so i was going to put it up in april to 1100 if they wanted to stay. But now i can only put it up 48?

    Worse. You can put it up by maximum of €40 to €1040.
    The LL currently charging €1400 can put it up to €1456.
    You will always be behind now with no way of catching up to the market rate.
    (Assuming that this isn't going to end in three years time)


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    #71
    mrsWhippy
    Registered Users Posts: 673 ✭✭✭mrsWhippy


    April 73 wrote: »
    That's good. Thank you. If the Act says "at least" I should be fine as everything else is by the book.
    I've had no response from the tenants so far but I'm not surprised. If I were them is be waiting to see what the new legislation actually says.
    I suspect this prospective change has spurred a lot of landlords who had been holding fire on rent rises or charging below market rates, into action.

    My landlord served me 9 months notice! By your reckoning, this should be ok too?

    Dont you have to include sample rents from a comparable area that are no more than 90 days old though?

    Edited to add, this is so confusing.

    So its OK to give 90 days notice of the *actual increase* once the "notice of the intent to increase' was given at least 24 months after the last one?


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    #72
    davindub
    Registered Users Posts: 1,447 ✭✭✭davindub


    So its OK to give 90 days notice of the *actual increase* once the "notice of the intent to increase' was given at least 24 months after the last one?

    Forget about rent increases when dealing with this.

    The RTB act states rent reviews are to be at least 24 months apart. A rent review is the process of comparing rents of similar properties in the area to establish the market rent. There is no notice period involved in a rent review as the tenant is not actually involved in the process. That's all you need to consider when timing rent reviews. i.e. when you actually go about setting the rent for the next period needs to be 24 months after the last one (including reviews which were invalid). The timing of this review is obviously relevant to LL's in a rising market, more so to a tenant in a falling market as a couple of months either way will affect the market pricing, unless something is changing in the market, which has, only a 4% increase can now be applied.

    Ok. So if you have conducted a successful rent review and determined what the market rent is for the area. You need to serve notice if you want to change the rent charged. There are no restrictions on the frequency of changing the rent except it must be preceded by a rent review and be notified with the proper notice, so it is linked to the rent review in that sense, but is not relevant to later rent review processes.


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    #73
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    mrsWhippy wrote: »
    My landlord served me 9 months notice! By your reckoning, this should be ok too?

    Dont you have to include sample rents from a comparable area that are no more than 90 days old though?

    Edited to add, this is so confusing.

    So its OK to give 90 days notice of the *actual increase* once the "notice of the intent to increase' was given at least 24 months after the last one?

    There is a difference between my situation and yours.
    I am legally allowed to issue a rent review and notification of an increase as it is over 24 months since the last rent review (Nov 5th 2014)

    In your case the rent last increased in Sept 2015 so assuming your last rent review was sometime in 2015 (90 days before the rent increase in Sept 2015?), your LL cannot issue his rent review until 24 months have passed.

    I've commented on your other thread - but your situation & mine are different.


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    #74
    SteoL
    Closed Accounts Posts: 1,545 ✭✭✭SteoL


    Erika Massive Wood wrote: »
    The common sense use of review to me would be that it refers to the increase as that's how I would use the term.

    My pay being reviewed means my pay has been increased for example. I still think there is misinterpretation happening as it just doesn't make any sense that the rent cant be increased on the 24 month anniversary of the tenancy which would mean giving notice 3 months previously. The wording should have been "rent cannot be changed for 24 months" this would have taken away any confusion.

    If it is proven to be true its absolutely idiotic imo as its not 24 months (as stated by the rule) between increases its 27.

    In my place we have our pay review in November but our actual pay increase doesn't happen until Jan therefore I think Michael D is correct. I would interpret rent review and increase the same way.


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    #75
    stickysit
    Registered Users Posts: 1 ✭stickysit


    I havent reviewed my tenants rent since mid-November 2014, that was effective from January 2015. Can I issue them with 90 days rent increase notice, 3 examples and bring them up to market rent? It has been over 24 months since they got a rent review


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    #76
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    stickysit wrote: »
    I havent reviewed my tenants rent since mid-November 2014, that was effective from January 2015. Can I issue them with 90 days rent increase notice, 3 examples and bring them up to market rent? It has been over 24 months since they got a rent review

    As of right now I think you can. You can get the correct wording on what you need to include in a rent review from the RTB website.


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    #77
    slynchy1
    Registered Users Posts: 13 ✭slynchy1


    Can anyone advise me on this one:

    - My lease is up for renewal in Feb 2017
    - My landlord gave me 90 days notice of rent increase (27% hike) in 2016
    - I have not had an increase in the past two years as per prior legislation.

    If this new legislation comes in before Feb (i.e. max 4% increase), can my landlord still put up the rent by 27% (to be fair, it is the going rate in the area) or are they now limited to 4%?

    Does the fact that my landlord gave me 90 days notice mitigate that?

    Thanks to any advice!


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    #78
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    What date was your last rent review and what date was your last rent increase?


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    #79
    slynchy1
    Registered Users Posts: 13 ✭slynchy1


    Last increase was Feb 2015. (frozen since for two years as per new rules)
    Last review would have been before that (Oct/Nov 2014)

    I've been in the apt going on 5 years.

    Landlord is on the level when it comes to notice periods and documentation etc.


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    #80
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    slynchy1 wrote: »
    Last increase was Feb 2015. (frozen since for two years as per new rules)
    Last review would have been before that (Oct/Nov 2014)

    I've been in the apt going on 5 years.

    Landlord is on the level when it comes to notice periods and documentation etc.

    As long as it is more than 24 months since the last rent review then your landlord can issue a rent review notice with 90 days notice. That is allowed under the current legislation.

    Try & verify when the last rent notice came in. Before Alan Kelly's changes came in it was only 28 days notice for a rent increase. If your rent went up on the 1st of Feb, it's possible that you only received the rent review in Dec 2014 or Jan 2015.

    If you can be sure of the rent review date it could be advantageous to you. If it really was Oct/Nov 2014, then the rent review notice just issued is legit.


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