When to issue notice of rent increase

Whattocook

Hi all.

I'm confused, despite reading many, many threads on the topic, about when exactly to issue a notice of rent increase under the current rules. I'd appreciate some advice please.

Tenant is in place since Dec 2013, rent was last increased Dec 2015.

Now that I want to increase again, do I issue notice of increase 90 days before Dec 2017, or IN Dec 2017 effective from March 2018.

Thanks in advance.

Skyrimaddict

Whattocook wrote: »

Hi all.

I'm confused, despite reading many, many threads on the topic, about when exactly to issue a notice of rent increase under the current rules. I'd appreciate some advice please.

Tenant is in place since Dec 2013, rent was last increased Dec 2015.

Now that I want to increase again, do I issue notice of increase 90 days before Dec 2017, or IN Dec 2017 effective from March 2018.

Thanks in advance.

Notice 90 days before Dec 17, as the rise will not be in effect until then, at which points it will be two years.

bigpink

Good tennants?Why increase?

Aye Bosun

bigpink wrote: »

Good tennants?Why increase?

One reason maybe he's in a RPZ and the new regs have forced landlords to increase 4% every 2 year even if good tenants cause if and when they leave the property it will be below the market rate and they will be restricted to only a 4% increase for the new incoming tenants and not allow to bring into line with the market rate.

I certainly know what's why I'll be increasing the rent for my tenants this year, even though they have been ideal tenants.

Michael D Not Higgins

The notice of rent increase can only be served 24 months after the last one, with 90 days notice of the increase. If the last increase came in December 2015, the notice of increase would have been 28 days beforehand in November, so you can issue notice on the second anniversary in November this year for it to come in 90 days later in February.

bigpink

bigpink wrote: »

Good tennants?Why increase?

To make more money from the business obviously. That's the point. Honestly some people haven't a clue.

Whattocook

Thank you all for your input.

tina1040

Michael D Not Higgins wrote: »

The notice of rent increase can only be served 24 months after the last one, with 90 days notice of the increase. If the last increase came in December 2015, the notice of increase would have been 28 days beforehand in November, so you can issue notice on the second anniversary in November this year for it to come in 90 days later in February.

Is that from expert knowledge or an interpretation?
Unfortunately with all the changes to the rules over the last year , there seems to be more than one interpretation of these notice/rent increase rules.

NinetyTwoTeam

Saige Famous Shrapnel wrote: »

bigpink wrote: »

Good tennants?Why increase?

To make more money from the business obviously. That's the point. Honestly some people haven't a clue.

More like some people are disgusted by the rampant greed of LL's putting people under pressure for the most basic of human needs even if they are model tenants, while at the same time trying to justify increases by saying it's because bad tenants do this or that. I really feel bad for whoever rents from you based on your posts in this forum in basically every thread. Your attitude is exactly why rent control is being introduced in Dublin, and hopefully countrywide soon.

Michael D Not Higgins

tina1040 wrote: »

Is that from expert knowledge or an interpretation?
Unfortunately with all the changes to the rules over the last year , there seems to be more than one interpretation of these notice/rent increase rules.

From reading the RTB examples. We argued about this numerous times when the new notice period and 2 year interval were introduced. The argument was about whether the new rent was the review or the notice was the review, which wasn't helped by the confused terminology on numerous websites including the RTB's own. However, the examples the RTB gave on their website (https://www.rtb.ie/rent-pressure-zones/rent-certainty-measures see example 2) showed the sequence as

review -> send notice to tenant -> wait notice period -> new rent implemented

This means the OP had a rent review in November 2015, sent notice in November, waited 28 days notice period and implemented new rent in December 2015.

The next review must be 24 months after the old review. That means review November 2017, sent notice in November, wait 90 days notice period, implement new rent in February 2018.

Michael D Not Higgins

NinetyTwoTeam wrote: »

More like some people are disgusted by the rampant greed of LL's putting people under pressure for the most basic of human needs even if they are model tenants, while at the same time trying to justify increases by saying it's because bad tenants do this or that. I really feel bad for whoever rents from you based on your posts in this forum in basically every thread. Your attitude is exactly why rent control is being introduced in Dublin, and hopefully countrywide soon.

MOD: We don't allow "us vs them" type posts on the forum. It only serves to divide it into two entrenched camps. The landlords didn't make this situation, and no tenant was complaining when landlords were forced to lower their prices 5-10 years ago.

For what it's worth, I'm not a landlord and I am a tenant.

George Sunsnow

NinetyTwoTeam wrote: »

More like some people are disgusted by the rampant greed of LL's putting people under pressure for the most basic of human needs even if they are model tenants, while at the same time trying to justify increases by saying it's because bad tenants do this or that. I really feel bad for whoever rents from you based on your posts in this forum in basically every thread. Your attitude is exactly why rent control is being introduced in Dublin, and hopefully countrywide soon.

They're not rent control though
They are regulated rent rises
There is no control the power to not increase and no ability to prevent a rise equal to what the market will bear

The only control on that is to increase building

punisher5112

The ordinary LL isn't to blame that havethe one property but the LL's that are the problem are those that have many many properties or units as they like to call them.


Vulture funds, hedge funds and huge private and foreign investors are screwing us all over big time.

These huge entities are snapping up property and land for buttons while us fools endvup making the difference.

These huge money making groups pay no tax and all they make is complete profit.


Look at rte player and look for selling Ireland.

Fkall

A few years ago tenants were crying out for professional landlords to enter the market.

For those now dealing with this new class - no more shoddy repairs or unfairly withheld deposits. However the rent will be increased each year to the maximum the market or legislation will bear.

gizmo81

Michael D Not Higgins wrote: »

MOD: We don't allow "us vs them" type posts on the forum. It only serves to divide it into two entrenched camps. The landlords didn't make this situation, and no tenant was complaining when landlords were forced to lower their prices 5-10 years ago.

For what it's worth, I'm not a landlord and I am a tenant.

Oh the irony :pac::pac:

As the Grandfather used to say 'if you had a spit with that you'd choke'.

awec

Fkall wrote: »

A few years ago tenants were crying out for professional landlords to enter the market.

For those now dealing with this new class - no more shoddy repairs or unfairly withheld deposits. However the rent will be increased each year to the maximum the market or legislation will bear.

Yep this is my experience, and while I do welcome the more professional face on rentals I do have concerns about the amount of influence these big companies can have.

In general, if the property is split out among various landlords and smaller letting agencies the rent will still rise but at a much slower rate as they are in competition with one another.

With these big REITs etc, one stroke of a pen and they can change the market rate in an entire area overnight. It is pretty monopolistic.

I love Sean nos

gizmo81 wrote: »

Oh the irony :pac::pac:

As the Grandfather used to say 'if you had a spit with that you'd choke'.

What a coincidence! My Grandfather used to say, "Rogorut udedete seyuri ge toboyiem sufife selud apehohim sag."

Of course, he'd had a stroke.

What's your point?