Hi All
First time posting here, so apologies if this has been covered already
I really need some advice here....
I am an accidental landlord stuck with a negative equity property and big mortgage in a commuter town near Dublin
For the last few years I have been generous to the tenant and charged a very low rent. It emerged a few months ago that I was getting 400 a month less than I could have. This was brought to my attention by the letting agency who look after the place
In around August the tenant had been 2 years with the same low rent. I decided on an increase of 200 euro a month, again I was being very fair. This was done in writing with the required 90 days notice, the agency took care of that. The tenant accepted this , all were happy and the new rent was due to kick in on November 1 st
Then today all went wrong. The entire town has been declared a RPZ so rent is fixed. That would have been ok except, with exquisite timing, the tenant announced they were leaving having got somewhere else
Now the agency can find me a new tenant but I have one big question....
The new higher rent was agreed weeks BEFORE the sudden RPZ announcement but I had yet to receive the first increased payment. Can I charge the new tenant that same rate or am I stuck with the old very low rent plus 4 percent?
I feel I have been royally shafted and punished for treating people fairly
Surely when a fair rent was agreed I should be allowed to charge that?
Do I need to get a lawyer to fight this?
Any advice much appreciated and sorry for length of post!
First time posting here, so apologies if this has been covered already
I really need some advice here....
I am an accidental landlord stuck with a negative equity property and big mortgage in a commuter town near Dublin
For the last few years I have been generous to the tenant and charged a very low rent. It emerged a few months ago that I was getting 400 a month less than I could have. This was brought to my attention by the letting agency who look after the place
In around August the tenant had been 2 years with the same low rent. I decided on an increase of 200 euro a month, again I was being very fair. This was done in writing with the required 90 days notice, the agency took care of that. The tenant accepted this , all were happy and the new rent was due to kick in on November 1 st
Then today all went wrong. The entire town has been declared a RPZ so rent is fixed. That would have been ok except, with exquisite timing, the tenant announced they were leaving having got somewhere else
Now the agency can find me a new tenant but I have one big question....
The new higher rent was agreed weeks BEFORE the sudden RPZ announcement but I had yet to receive the first increased payment. Can I charge the new tenant that same rate or am I stuck with the old very low rent plus 4 percent?
I feel I have been royally shafted and punished for treating people fairly
Surely when a fair rent was agreed I should be allowed to charge that?
Do I need to get a lawyer to fight this?
Any advice much appreciated and sorry for length of post!