Letting out my property

Andrews58

We have recently decided to move house and renting out our property and renting another property is the only option for us at the moment.

The tenants we found would like to pay the rent using rent allowance and they will also need to add money to this to cover the rent. This is new to me so can anyone tell me do I need to pay landlord tax? If so, how much will this be and when does it have to be paid? Also should I get landlord house insurance instead of regular house insurance?

Can anyone tell me if there is anytihing else additional we need to know or get organised before new tenants move in?

Thanks

yankinlk

check out askaboutmoney.com - an irish site that deals with these issues. everything you wanted to know and more is there.
If you make a profit you pay tax. (profit is rent taken in minus expenses. note that capital paid back to bank is not an expense, although SOME of the interest is).

You had better do your homework before you attempt this venture, not everyone is cut out for it.

ednwireland

useful info here
http://www.irishlandlord.com/