RPZ- Tenant of 10 years paying low rent? Greater increase allowed after renovations?

N

nbc

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Hi
I have a tenant paying E1450 for a property. Market rate E2000
I believe i can increase by 4% as it's 2 years since last increase.
I have just spent E5000 doing up the bathroom as it was a bit shabby. Am I allowed to increase rent by more than 4% here? I was hoping to increase by E100 pcm
Thanks for replies.
nbc
 
Hi
Thanks for the quick reply. I thought that would be the case but thought I should ask.
Is it ok however to do so if the tenant is happy to pay it?
Niall
 
Sarenco- may I ask another question.
I have read the advice from the RTB and it’s not black and white. If I did up bathrooms and fitted a new kitchen so the letting value is increased could this be interpreted as a substantial change? It annoys me- I have never charged market rent as I rented myself and find if you treat people well they’ll look after a place and give you little grief. And what do I get from it but my arms tied in terms of future letting value. I shouldn’t be surprised with the quality of politicians we have.
At any rate if tenant happy to pay more I assume the RTB don’t have a squad of people inspecting properties to ensure the changes are substantial in their eyes??
 
nbc said:
I have read the advice from the RTB and it’s not black and white
Click to expand...
You're right - it's not black and white.

The best I can do is refer you to the guidelines but I would suggest that fixing up a bathroom and/or fitting a new kitchen probably wouldn't constitute a "substantial change" in most circumstances.

The RTB won't take any action at all unless your tenant makes a complaint to them but a tenant cannot contract out of their statutory rights (in other words, they can agree something one day and then subsequently change their mind).
 
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