RTB - Notification of Rent Increase Query

D

DM2017

Registered User
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3
Hi All,

I'm hoping someone can help me out with a bit of advice.

I own a rental property that has until very recently been let to a family on a long term lease. I registered with the then PRTB and since the registration date have not got in touch with the RTB to advise of any rental increases, didn't know I had to. Obviously rent went up over the years.

Now with this whole 'rent pressure zone' issue I am facing a problem. The new tenant is paying a lot more than when last I registered a property with the RTB. Will I face issues if I register the new tenant at the new rental amount? As in will the RTB come back to say 'you were letting this property at 1000 p.m, its now 1400 per month, you can only increase by 4%....'

Regards,

DM
 
DM2017 said:
Hi All,

I'm hoping someone can help me out with a bit of advice.

I own a rental property that has until very recently been let to a family on a long term lease. I registered with the then PRTB and since the registration date have not got in touch with the RTB to advise of any rental increases, didn't know I had to. Obviously rent went up over the years.

Now with this whole 'rent pressure zone' issue I am facing a problem. The new tenant is paying a lot more than when last I registered a property with the RTB. Will I face issues if I register the new tenant at the new rental amount? As in will the RTB come back to say 'you were letting this property at 1000 p.m, its now 1400 per month, you can only increase by 4%....'

Regards,

DM
Click to expand...

I don't have an answer, but after what they have done, I am afraid landlords actually must increase by 4% per year after year 2 if the market allows, just not to be bitten later by what you described as possibility. I should say I totally oppose to this because my tenants are nice, we are all happy, the last thing I want to do is increase their rent. But in 2-3 years, after they moved, rental situation may really be on a different level.
 
DM2017 said:
Hi All,

The new tenant is paying a lot more than when last I registered a property with the RTB. Will I face issues if I register the new tenant at the new rental amount? As in will the RTB come back to say 'you were letting this property at 1000 p.m, its now 1400 per month, you can only increase by 4%....'

Regards,

DM
Click to expand...

If the tenant has been paying more, you will have a record of it through bank statements etc assuming they pay by bank transfer. If they pay by cash you may have more difficulty.

Edited to add: You can also prove your rental income from tax returns if necessary. This may be another option.
 
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