I'm a landlord with a house in a Rent Pressure zone that is getting rental income of €1,300 when similar properties are advertised for €2,500.
I'm thinking of serving the tenant notice and applying for a substantial change exemption.
I can meet 3 of the criteria for the exemption if I convert a very large living space to 2 smaller living spaces and do the necessary changes required to push the BER up 2 places (i.e. new boiler, insulate the attic etc.)
The criteria for this exemption is as follows:
At least 3 of the following:-
A permanent alteration to the internal layout;
An adaptation for use and access by persons with a disability;
A permanent increase in the number of rooms;
An improvement in the BER by three or more ratings, where the BER is D1 or lower;
An improvement in the BER by two or more ratings, where the BER is C3 or higher.
So my question/(s) is, does this renovation qualify as a substantial change? Is there somewhere that I can get advice to ensure I am playing by the rules?
My alternative is leaving the property idle for 2 years but €30k of mortgage payments over this time would be difficult to justify, at least the BER upgrades would be beneficial even if it meant a cost outlay.
Thanks in advance for any advice or comments
I'm thinking of serving the tenant notice and applying for a substantial change exemption.
I can meet 3 of the criteria for the exemption if I convert a very large living space to 2 smaller living spaces and do the necessary changes required to push the BER up 2 places (i.e. new boiler, insulate the attic etc.)
The criteria for this exemption is as follows:
At least 3 of the following:-
A permanent alteration to the internal layout;
An adaptation for use and access by persons with a disability;
A permanent increase in the number of rooms;
An improvement in the BER by three or more ratings, where the BER is D1 or lower;
An improvement in the BER by two or more ratings, where the BER is C3 or higher.
So my question/(s) is, does this renovation qualify as a substantial change? Is there somewhere that I can get advice to ensure I am playing by the rules?
My alternative is leaving the property idle for 2 years but €30k of mortgage payments over this time would be difficult to justify, at least the BER upgrades would be beneficial even if it meant a cost outlay.
Thanks in advance for any advice or comments
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