Did anyone decide not to rent for 2 years?
- Thread starter Premos
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That's clever, because its awkward enough in an apartment to meet the change rules. I was thinking if I was in OP's situation I'd try to add a room or an en-suite, increase the Ber, maybe widen doors and that would cover the three things required, but never thought of combining rooms !
Setting Rent and Rent Reviews in a RPZ | Residential Tenancies Board
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At the bottom of this page is the required changes to a property
You're likely to face a further challenge in an apartment situation that you may not be permitted carry out such works without explicit consent as you don't own structural elements.
This is a fair point - if the home is going to be vacant even if the last rent was 50% of market asking prices you are still looking at a year of no rent, plus whatever costs associated with vacancy are.
Most people I know who have done this just moved in their large adult daughters. Except of course they too may refuse to move, but you technically can charge them rent & I don't think RTB applies if letting to family members?
Would that be a problem if only the internal layout was changed?
I know someone who changed the layout in an older house to combine a tiny kitchen and dining room to an open plan room. They also combined the separate WC and bathroom. They didn't need PP but it was a house tbf.
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You generally don't need planning permission to change the internal layout of a property, though en engineer's report on compliance with planning & building regs will be required.
Of course the situation is different in an apartment where it's usually forbidden via the lease to change the internal layout.
If selling to a buyer seeking finance then the banks's have gotten a lot stickier on this in recent years. I bought one ~3 years ago where an internal wall was removed to create open plan kitchen diner and the bank insisted on a cert of compliance.
presidenttttt
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Will the maths not add up on selling the property and buying one "next door"?
It would realise a gain in my cases but sooner or later it's likely the tax will be due anyway?
2 years rent to relinquish in order to secure higher rent is a lot.
It would realise a gain in my cases but sooner or later it's likely the tax will be due anyway?
2 years rent to relinquish in order to secure higher rent is a lot.
You have to declare if any structural changes have been made. I guess you could say no but that's fraudulent. It cost us a couple of hundred for the cert and we would need it if we ever sold. I would always advise anyone to get one at the time of the works.
I hear they are asking for confirmation on most purchases these days, the only alternative is the person they sent to value the property told them the floor plan didn't match that on the planning permission.
We considered it before but felt that we would not be in an easy situation to buy and sell at the same time. The cgt is not a major consideration. It would actually be a good thing as we would have very little cgt due currently.
Looking at our finances, we are back considering it as we would then be able to solve 3 issues with have if we find a small house (keep a possible accommodation for our children, increasing rent and not be dependent on the actions of an omc).
babyblackie
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Is it easy to get the permission or can someone carry on without it?
babyblackie
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How does revenue view this? I read before that if you charge no rent to offspring revenue deem the rent, for tax purposes, to be at the top of the market. If you have a property rented out at a a low rent but are now screwed by the RPZs can you set a similarly fair (ie manageable) rent to offspring?