Landlords - Would you give a 5 year lease?

[ice]

Hi

Question for you landlords out there.

Would you rent your house to a family of private, long term renters at a lower rent for a longer period lease (eg 5 years).

Say your house would normally rent for 1500 per month, how much would you be prepared to drop the rent for a gaureented rental of five years.

Would this senario be of interest to landlords?

Thanks

 

[delgirl]

Say your house would normally rent for 1500 per month, how much would you be prepared to drop the rent for a guareented rental of five years.

Hi ice,
What form would this guarantee take? Under current PRTB rules, the notice periods for the termination of a tenancy by the tenant is as follows:

- less than 6 months - 28 days
- 6 months or more, but less than 1 year - 35 days
- 1 year or more, but less than 2 years - 42 days
- 2 years or more - 56 days.

 

[ice]

mmmm never thought of that delgirl....I just thought that if we signed a lease for 5 years we would be liable for the rent for that period. Is that not the case ?

 

[delgirl]

Hi ice,

I don't think it would be enforceable - see the following exerpt from the Residential Tenancies Act 2004:

"The provisions of the legislation will need to be reflected, as appropriate, in any future tenancy agreements, leases, etc. Tenancy agreements or leases can provide for matters not dealt with in the Act. However, in relation to matters that are covered in the Act, a tenancy agreement or lease cannot take away from rights and obligations provided for in the Act and if it purports to do so, that provision is rendered void. The landlord or tenant cannot contract, or be contracted, out of the rights or obligations of the Act."

As far as security of tenure goes, a tenant is quite secure after 6 months and can remain in the property for 4 years unless he fails to comply with the terms of the tenancy agreement or the landlord has a vaild reason for the termination - these are listed on the PRTB website.

I suppose it's up to the individual landlord to consider what the 'intention' of the tenant
to remain in the property for 5 years is worth.

 

[ice]

Thanks for that delgirl....would probably work best if you knew the landlord or had built up some record with him or her..


Thanks again