42Tribunal may declare rent excessive

42 Tribunal may declare rent excessive (1) The Tribunal may, on the application of the tenant, declare that the rent payable under a tenancy agreement is excessive. (2) The Tribunal must not make a declaration under subsection (1) unless it: (a) has given 14 days notice to the landlord of the application; and (b) has invited the landlord to make submissions to the Tribunal in relation to the application before the date specified in the notice; and (c) has considered any submissions made by the landlord. (3) The Tribunal may only make a declaration under subsection (1) if the rent paid in respect of the tenancy agreement is, in the opinion of the Tribunal, excessive: (a) having regard to the general level of rents for comparable premises in the same or similar localities and the cost of any services provided in connection with the tenancy agreement by the landlord or the tenant; or (b) because the level of services provided under the agreement has, in the opinion of the Tribunal, been reduced to a significant extent, having regard to the cost of any services provided in connection with the tenancy agreement by the landlord or the tenant. (4) If the Tribunal makes a declaration under subsection (1), it may by order: (a) specify the rent payable for the premises and vary the agreement by reducing the rent payable under the agreement accordingly; and (b) specify a date (which is not to be before the date of the application) from which the variation takes effect; and (c) specify the period of not more than 12 months that the order is to remain in force. (5) The Tribunal may, on the application of the landlord, vary or revoke an order under this section as the Tribunal thinks fit. Residential Tenancies Act 1999 30