Hi, apologies if I'm being thick here, but I issued a first rent review notice a few months back, to take effect on Jan 1st 2020.
The details directly from the RPZ Calculator are as follows:
Summary of results:
The tenants have been paying the new rent for 2 months now, but have just queried the amount based upon the statement on the RPZ website -
"Rent Review in a Rent Pressure Zone
Following the designation of a Rent Pressure Zone, all existing tenants at the relevant date of designation are still covered by the 24 month rent certainty laws. Therefore, a landlord must wait 24 months from the tenancy commencing or 24 months from the service of the last valid rent review notice before serving a further rent review.
A tenant must be informed of any review to the rent with at least 90 days’ notice in writing of a change in rent (an email or text is not considered appropriate notice of a rent review). The rent can only be increased up to a maximum of 4% and the rent being sought should not be more than local market rents for similar properties. After this, the landlord will be entitled to review the rent every 12 months."
This statement seems to suggest that "the rent can only be increased up to a maximum of 4%", however the RPZ calculator applies an increase of 10.3%.
Am I missing something here and which is correct - a 4% flat increase (just because of this statement), or the calculated amount using the calculator ?
Puzzled :?
Thanks for any thoughts / guidance here.
The details directly from the RPZ Calculator are as follows:
Summary of results:
Tenancy Type: | Existing | |
Date tenancy commenced: | 15/05/2017 | |
Date previous rent set: | 15/05/2017 | |
Date new rent to take effect: | 01/01/2020 | |
Previous rent amount: | €1650 | |
Maximum rent permitted: | €1820.50 | |
* Please note the amount above is the maximum increase permitted; Landlords can apply a lesser amount. |
The tenants have been paying the new rent for 2 months now, but have just queried the amount based upon the statement on the RPZ website -
"Rent Review in a Rent Pressure Zone
Following the designation of a Rent Pressure Zone, all existing tenants at the relevant date of designation are still covered by the 24 month rent certainty laws. Therefore, a landlord must wait 24 months from the tenancy commencing or 24 months from the service of the last valid rent review notice before serving a further rent review.
A tenant must be informed of any review to the rent with at least 90 days’ notice in writing of a change in rent (an email or text is not considered appropriate notice of a rent review). The rent can only be increased up to a maximum of 4% and the rent being sought should not be more than local market rents for similar properties. After this, the landlord will be entitled to review the rent every 12 months."
This statement seems to suggest that "the rent can only be increased up to a maximum of 4%", however the RPZ calculator applies an increase of 10.3%.
Am I missing something here and which is correct - a 4% flat increase (just because of this statement), or the calculated amount using the calculator ?
Puzzled :?
Thanks for any thoughts / guidance here.