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Renting out my House

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  • 04-07-2010 11:11pm
    #1
    troops
    Registered Users Posts: 119 ✭✭


    I am thinking of renting my house which we own for 6 years. Moving location so gonna rent in new location for time being.
    What do I need to do exactly to do it legit. Or if there are other threads can u link.
    New to this so have so far:
    1. Register with PRTB
    2. Pay NPRR
    3. Pay Revenue on income (is this done at end of calendar year or when??)

    What about TRS - will I loose this?
    Also social welfare recipients - is rent allowance now paid straight to landlord?

    any help appreciated


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    #2
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    Rent allowance is usually paid to the tenant by check, try and get working tenants first as its your first time renting.See www.revenue.ie search for
    tax landlord etc.


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    #3
    MsFifers
    Registered Users Posts: 997 ✭✭✭MsFifers


    You'll have to inform your lender also as you'll lose the TRS.

    Everything you're wondering about you'll find on this site which I found a great help:
    http://www.irishlandlord.com/index.aspx


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    #4
    troops
    Registered Users Posts: 119 ✭✭troops


    MsFifers wrote: »
    You'll have to inform your lender also as you'll lose the TRS.

    Everything you're wondering about you'll find on this site which I found a great help:
    http://www.irishlandlord.com/index.aspx

    thanks for that site...looks to be a lot of info on it I will need


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    #5
    ricman
    Closed Accounts Posts: 1,559 ✭✭✭ricman


    You,ll need house insurance with public liability in it,extra 300euro a year approx.


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    #6
    EKRIUQ
    Registered Users Posts: 4,386 ✭✭✭EKRIUQ


    Take out landlord liability, it has to be specifically on your policy.


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