I am renting a one-bedroom apartment in a rent pressure zone to a tenant the last five years. Rent is low (relative to other similar properties nearby) and I cannot raise it due to being in a rent pressure zone. My tenant has qualified for a HAP scheme and asked me to sign the necessary documents. Will this hinder me from raising rent in the future should the political landscape change? Are there downsides to this that I should be cautious about? Thanks in advance.
No ones knows what the future holds but it's unlikely your ability to raise rents would be affected by that fact alone. As it stands the rules on rent increases are the same regardless of whether the tenant is availing of HAP or not.
Yes, the main hassle will likely be the local authority’s inspection, which can be frustrating. You might end up paying quite a bit for something relatively minor. However, since it’s an apartment and probably no more than 25 years old, you shouldn’t expect major issues. A studio flat in a pre 63 would be a different kettle of fish. Not only would they inspect the unit under HAP but they'd check the entire house