If your dwelling is in a rent pressure zone please ensure to complete the below formula, your calculations must be set out in full.
I, [insert name of landlord]confirm that the previous rent applicable to this dwelling was [insert previous rent amount]and last came into effect on [insert date]. The amount of the new rent is [state amount of the new rent] and has been calculated as follows:
R x (1 + 0.04 x t/m)
*please note that you should do your calculations working from right to left
R = The amount of rent last set under a tenancy for the dwelling
(the current rent amount)
t = The number of months between the date the current rent came in to
effect and the date the new rent amount will come in to effect.
m = you must enter 24 OR 12
[Select one of the following as appropriate]
· In setting the rent under this tenancy I have applied the formula contained in section 19(4) of the Residential Tenancies Acts 2004 to 2016.
· In setting the rent under this tenancy I am not required to apply the formula contained in section 19(4) of the Residential Tenancies Acts 2004 to 2016 as I am relying on a rent pressure zone exemption in circumstances where there has been a substantial change in the nature of the accommodation provided under the prior tenancy and that change has affected the level of market rent.
· In setting the rent under this tenancy, I am not required to apply the formula contained in section 19(4) of the Residential Tenancies Acts 2004 to 2016 as I am relying on a rent pressure zone exemption in circumstances where the dwelling has not been the subject of a tenancy in the two years prior to the area being designated as a rent pressure zone.
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