Managing A Residential Investment Property
The Private Residential Tenancies Board (PRTB) was set up in 2004 and is responsible for registration of tenancies and resolution of disputes.
Registration of tenants
A landlord must register the tenancy within one month of the beginning of the tenancy. The registration can be completed on line for a fee of €90.00 increasing to €180.00 for late registration.
The PRTB is responsible for resolving disputes between landlords and tenants. If referring a dispute to the PRTB you need to be conscious of any time limits that apply. The fee for referring a complaint is €15.00 if referred online and €25 if you make a paper application. Common disputes include:
- Deposit retention
- Illegal eviction
- Rent arrears
The PRTB operate a 2 stage dispute resolution system. The first stage is mediation/adjudication. The second stage is referral to the Tenancy Tribunal.
The Residential Tenancies Act 2015 introduced a temporary restriction (until December 2019) on operating rent reviews more than once in every two year period with the notification period before a new rent can take effect being increased from 28 days to 90 days.
The 2015 Act contains a provision requiring landlords to lodge deposits with the Residential Tenancies Board (PRTB). Any interest earned on these deposits is to be retained by the RTB meet the cost of performance of its functions. This provision has not yet come into force.
Notice Periods – Termination of Tenancy by Landlord
LENGTH OF TENANCY
PERIOD OF NOTICE
|Less than 6 months
|6 months or more, but less than 1 year
|1 year or more but less than 2 years
|2 years or more but less than 3 years
|3 years or more but less than 4 years
|4 years or more but less than 5 years
|5 years or more but less than 6 years
|6 years or more but less than 7 years
|7 years or more but less than 8 years
|8 or more years
Rent Book Regulations
A landlord must provide a tenant with a rent book containing the following information;
- The address of the property
- Landlords name and address
- Tenant’s name
- The amount of rent and how it is to be paid
- The amount of any rent paid in advance
- The amount and purpose of a deposit and the conditions on which it is repayable
- Date of the commencement of the tenancy
- Particulars of the furnishings and appliances provided by the landlord for the exclusive use of the tenant
All fees referred to in this document are correct as of the 18 March 2016.
For further information, please contact MB Solicitors.