How do the new rent controls affect selling and buying a rental property?

Discussion in 'Property investment and tenants' rights' started by Brendan Burgess, Dec 16, 2016.

  1. Sarenco

    Sarenco Frequent Poster

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    4,176
    Hi Dermot

    That was the way the Minister's amendment was originally drafted. Apparently that wasn't what he actually intended so he amended his own amendment at the 11th hour - see page 4 of this thread:-

    http://www.askaboutmoney.com/threads/government-to-introduce-rent-caps-in-dublin-cork.201713/page-4

    I would imagine that the RTB will publish a comprehensive summary of the up to date position in short order.
     
  2. Dermot

    Dermot Frequent Poster

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    I have a property where I last increased the rent from 01 July 2015 and I intend to increase the rent on the 01 July 2017. It is not in the Cork or Dublin zones so not capped by the 4% rule. I have the property currently let at about 30% below market rate because I was very happy with the Tenants who will be with me 4 years on 01 July 2017 and I was prevented from increasing the rent on 01 July 2016 because the 2 year rule for increases prior to that. I had only intended to raise it by a modest amount at that time.
    I now feel that I have no choice but go for the full market rate because of the new legislation and no doubt worse to come down the road. I intend to issue a notice of a Rent review in late March 2017 so as to give the required number of days notice. Am I correct in the timing of my notice.
     
  3. Gordon Gekko

    Gordon Gekko Frequent Poster

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    2,235
    Given that the geographical scope of the new rules could be broadened to include your property, my view is that you would be mad not to increase the rent to market value.
     
  4. valery

    valery Frequent Poster

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  5. Dermot

    Dermot Frequent Poster

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    999
    Thanks Gordon & valery