Archives for First Time Landlord

All About Rent Pressure Zones

Landlords must follow certain procedures if they want to review the rent. The rules are set out in the Residential Tenancies Act. Breaching Rent Pressure Zone legislation may lead to a criminal conviction. Regardless of the level of rent, even if it is substantially below market rent, you must comply with the legislation. Rent Pressure Zone rules also apply to a new purchaser buying a property. What is a Rent Pressure Zone (RPZ)? A Rent Pressure Zone (RPZ) is a designated area where rents cannot be increased by more than 4% per annum. This applies to new and existing tenancies
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Categories: First Time Landlord, Property Management, Rent Increases, and Rent Pressure Zone.

Tenant Replacing Tenant – Probationary Period?

Question: I have let a 4 bed house for the past 5 years.  Four tenants were on the original lease agreement, no fixed term is in place, no problems have ever occured. A new tenant has recently replaced a previous tenant. Three tenants currenlty in the property were on the original lease, the new tenant (fourth) replaced a previous tenant 2 weeks ago. What happens if the new tenant does not get on with the existing tenants? I have reason to believe that there have been difficulties already. Response: Based on the information provided,  an assignment has occured. An assignment
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Categories: First Time Landlord and Uncategorized.

What Are The Notice Periods For Ending A Tenancy?

Landlords be aware that there are  minimum notice periods set out in the Residential Tenancies Act.  This means that as a Landlord you are required to give a minimum amount of days notice when terminating a tenancy, the notice period is linked to how long the tenants have been in the property. A tenant can vacate the property on or before the termination date. Familiarise yourself with the notice periods (set out below). Failing to issue a notice of termination with the correct number of days may invalidate the notice in full. In 2018, 22% of disputes with the Residential
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Categories: First Time Landlord, Notice Periods, and Uncategorized.

Fire Safety In Rental Accommodation

Frighteningly, in as little as 3 minutes a person can die of smoke inhalation.   Landlords please be aware of your responsibilities in relation to fire safety and to ensure that your properties are fully compliant with the fire safety standards and regulations applicable to rental properties. Information on the requirements for fire safety can be found in the Housing (Standards for Rented Houses) Regulations  Specifically landlords must ensure: There is a suitable self-contained fire detection and alarm system in each house. There is a suitably located fire blanket. That each self-contained house in a multi-unit building shall contain a suitable
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Categories: First Time Landlord, Property Management, and Uncategorized.

Helpful Tips For New Landlords

1. Know Your Rights & Responsibilities. If you are new to the rental game or thinking of investing, it is important that you are aware of your rights and obligations as a landlord.  Many people are unaware that the sector is governed by the Residential Tenancies Act enforced by the Residential Tenancies Board (RTB).  There are strict regulatHions in place and it is not possible to contract out of these obligations (i.e. the legislation overrides the terms of any tenancy agreement that you have with a tenant). There can be fines, sanctions and even criminal convictions for landlords that do
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Categories: First Time Landlord.

6 Basics Every Lease Agreement Should include

As a landlord your lease (tenancy) agreement is probably one of the most important documents you will use. It is the legal agreement between you and each tenant occupying your property. It outlines the rights and obligations of both parties during the tenancy and should be understood by both parties. A good lease agreement protects the interests of both parties and helps prevent disagreements that could potentially lead to disputes. A sound lease agreement is essential to the effective management of your rental property. It is good practice to put a lease agreement in place outlining the terms and conditions
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Categories: First Time Landlord and Property Management.

Buying A Property With Tenants In Situ / Terminations

25th July 2019 Question: I recently purchased a property in Dublin, I purchased the house with tenants in situ. The tenants are in the property 2.5 years and have no fixed term agreement in place. My son will be attending college in Dublin in September and I require the property back for his use. My son intends to be in the property by the 28th of August 2019. Response When you buy a property with tenants in situ you take over the rights and responsibilities of the previous landlord. The tenant(s)’s rights and responsibilities are unchanged with the changing ownership
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Categories: First Time Landlord and Landlord Query of the Week.