Although rent books may seem antiquated, there is still a stringent legal requirement in place since 1992, for landlords to provide their tenants with their rent book. The penalty for failure to do so leaves landlords open to prosecution in open court and/or receiving fines up to three times the tenants deposit.
A rent book is a document given to the tennant at the inception of a new tenancy agreement and is used to keep a variety of information, but most importantly it keeps track of the tenants’ rent payments. As a landlord it is your legal responsibility to provide the tenant with their rent book or comparable documentation that features ALL of the same information as the aforementioned document.
It’s very important for both the landlords and the tenants protection that any and all rent payments are recorded in the rentbook.
What is a rent receipt?
If your tenant pays in cash, in person, then it’s the responsibility of the landlord to provide either a signed receipt or sign the rent book below the details of what has been paid. If your tenant pays electronically either via bank transfer or from the post office, then again the onus falls on the landlord who must send a receipt and sign the rent book within 3 months of the tenants payment. Failure to do so could result in prosecution.
All rent or payments made to the landlord, legally have to be acknowledged.
Housing (Rent Books) Regulations 1993
Rent book legislation was only created in 1993, as up to that point there were few or no cases prosecuted for failure to provide such a document. But due to the influx of new style rental properties such as airbnb and holiday lets, the housing minister has started tightening his grip on the rules across the board.
Now if the proper rent book legislation is not followed correctly it is possible for your local authority to commence proceedings against you or to provide a fixed fine of three times the tenant’s deposit. Several cases have been prosecuted recently, so this is definitely not something to ignore.
At a time where landlords are in the spotlight, it’s important to ensure that all of your required documentation is in order, this can be particularly difficult if you have multiple properties. Why not consider asking the advice of an experienced property manager such as KPM Group.
Property Management Company Dublin
If you need any advice on how to obtain or manage rentbooks, or any documentation required by law, KPM Group can help. We have an experienced team who can either advise on the documents or organise them on your behalf.
KPM Group has helped countless landlords free themselves from the day-to-day management of their portfolios and trust us to deliver the maximum return on investment while providing quality property management services.
