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new non-resident landlord, inherited property, lease expired, is cap binding?

Property investment and tenants' rights - Askaboutmoney.com - www.askaboutmoney.com
My late father left me a property in South Co Dublin. I live abroad. The 1 year lease expired Jan 2016. The rent was on "friendly" terms as he had a terminal illness and I now wish to raise it. The tennants have remained in the house on the previous lease's terms since then. I became "legal" owner in Sept 2016 but it was only transferred to me last month.

I now have to draw up a new lease, as new 1st time landlord and have a substantial CAT loan to repay.

Is there any way I can ask for the market rent which would have been fair AT THE DATE OF GRANT OF PROBATE since the executors could not draw up a new contract and the rent restrictions were introduced a year after the expiration of the lease but before I could renegotiate the lease?

Thanks for any advice,

Conor

 


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