Rent increase

[discovery101]

Thank you for replies in advance.

I am considering putting up my tenants monthly rent by a small amount, I have not increased it in two years, plus what I am intending to increase it by per month for the dwelling will be considerably less then what is been ask for similiar dwellings in other areas locally as I am quite happy with my tenants.

I know i have to give 90 days notice of rent increase....is there anything else I should be aware off before I let me tenant know?

The dwelling is not listed as in a RPZ.

 

[Sarenco]

Outside a RPZ you can increase the rent to the market rate every 24 months but your notice needs to specify the rent sought on three comparable properties.

Here's a sample notice produced by the RTB that you could adapt -
https://onestopshop.rtb.ie/images/uploads/general/Rent_review_sample_notice.docx

 

[discovery101]

Thank you for your reply.

 

[Brendan Burgess]

The dwelling is not listed as in a RPZ.

Might it become one? If so, then you are stuck with the low rent.

So put up the rent to the market rate and refer the tenants to the Minister for Housing if they have any problems.

Brendan