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Thread: Upward only rent reviews - Please Explain!

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    Politics.ie Member FrankSpeaks's Avatar
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    Default Upward only rent reviews - Please Explain!

    Can someone explain to me why the government advice is that anything other than upward only rent reviews are unconstitutional?

    I raise this in context of the B&Q examinership, they are expecting to negotiate lower rents or break contracts or move to new premises during this period.
    There's a lot to be said for the fellow who doesn't say it himself. -- Maurice Switzer

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    Politics.ie Member Dame_Enda's Avatar
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    Vested interests are why the politicians will do nothing about U.O.R.R.s.
    Real News.

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    Quote Originally Posted by FrankSpeaks View Post
    Can someone explain to me why the government advice is that anything other than upward only rent reviews are unconstitutional?

    I raise this in context of the B&Q examinership, they are expecting to negotiate lower rents or break contracts or move to new premises during this period.
    I think that the advice is that interfering in existing contracts would be unconstitutional.

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    Politics.ie Member Clanrickard's Avatar
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    Quote Originally Posted by FrankSpeaks View Post
    Can someone explain to me why the government advice is that anything other than upward only rent reviews are unconstitutional?
    I think it is more case of contracts can't be broken. You'd signed with an upward only rent review you can't back out.

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    Politics.ie Member FrankSpeaks's Avatar
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    Quote Originally Posted by Dame_Enda View Post
    Vested interests are why the politicians will do nothing about U.O.R.R.s.
    What is the constitutional bar?

    I don't see anything in the constitution that would bar a rent price decrease!
    There's a lot to be said for the fellow who doesn't say it himself. -- Maurice Switzer

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    Politics.ie Member Rocky's Avatar
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    Quote Originally Posted by Clanrickard View Post
    I think it is more case of contracts can't be broken. You'd signed with an upward only rent review you can't back out.
    That's basically it.

    It's now illegal to create contracts with upward only rent reviews, but the Oireachtas can't change old contracts. They were all business to business contracts as well, so it's presumed that they knew what they were getting into and signing.
    "Give us the future, we've had enough of YOUR past, Give us back our country, to live in, to grow in and to love..."

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    Politics.ie Member dresden8's Avatar
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    Quote Originally Posted by Clanrickard View Post
    I think it is more case of contracts can't be broken.
    Unless you're dealing with public sector workers.

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    Politics.ie Member FrankSpeaks's Avatar
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    Quote Originally Posted by Didimus View Post
    I think that the advice is that interfering in existing contracts would be unconstitutional.
    Quote Originally Posted by Clanrickard View Post
    I think it is more case of contracts can't be broken. You'd signed with an upward only rent review you can't back out.
    Quote Originally Posted by Rocky View Post
    That's basically it.

    It's now illegal to create contracts with upward only rent reviews, but the Oireachtas can't change old contracts. They were all business to business contracts as well, so it's presumed that they knew what they were getting into and signing.
    Thanks for the explanations.
    There's a lot to be said for the fellow who doesn't say it himself. -- Maurice Switzer

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    Politics.ie Member ManOfReason's Avatar
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    If someone has a property to rent they can specify any criteria they like as regards the rent. If someone else chooses to agree to those terms and signs a contract to that effect it is really none of the governments business.

    Just like people who bought property during the boom are screwed, people and companies that signed long term lease agreements during the boom are also screwed.
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    Politics.ie Member commonman's Avatar
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    We live in a corrupt country run by corrupt people.

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