New to leasing

wildchild247

I am leasing a room to my brother, probably for maximum 6 months and want to know what I require
How much tax I would have to pay?
How much should I charge him?
Do I need a rent book?
Do I have to register with anyone?

fro9etb8j5qsl2

If you get on well with your brother and ye trust each other you might be better off just making an informal agreement with each other. What you should charge would depend on the going rate in the area, usually between €50-€100. Otherwise, you're looking at registering with the PTSB, declaring the income to the revenue and drawing up a lease agreement for him to sign. Which is a bit long winded for a person letting a sibling stay on a short term basis. The citizens advice bureau has lots of info for first time landlords.

wildchild247

If he does decide to stay longer would it be too late to register after those months have past?

odds_on

wildchild247 wrote: »

I am leasing a room to my brother, probably for maximum 6 months and want to know what I require
How much tax I would have to pay?
How much should I charge him?
Do I need a rent book?
Do I have to register with anyone?

Is this in your own house/apartment - i.e. will you be a live-in landlord?

Silas Uninterested Rifleman If you get on well with your brother and ye trust each other you might be better off just making an informal agreement with each other. What you should charge would depend on the going rate in the area, usually between €50-€100. Otherwise, you're looking at registering with the PTSB, declaring the income to the revenue and drawing up a lease agreement for him to sign. Which is a bit long winded for a person letting a sibling stay on a short term basis. The citizens advice bureau has lots of info for first time landlords.

If it is a tenancy, even for less than six months it would have to be registered with the PRTB (though not if the agreement is for a bedroom in a rented property and sharing facilities with others and where the landlord is not resident in the property)

wildchild247

yeah its my house and I am letting him stay for a while
Im a live in landlord in this case

odds_on

wildchild247 wrote: »

yeah its my house and I am letting him stay for a while
Im a live in landlord in this case

wildchild247 I am leasing a room to my brother, probably for maximum 6 months and want to know what I require
How much tax I would have to pay?
How much should I charge him?
Do I need a rent book?
Do I have to register with anyone?

In this case your brother will be a lodger or licensee - he is only there on your invitation as long as you wish, be it 1 month, 6 months or years. You may at any time withdraw your invitation.

This would come under the rent-a-room scheme and you can have an income of up to 10,000 euros per annum, tax free.

How much you charge is up to you, but with a lodger situation it is rarely more than 250 euro per month plus a contribution to the utilities, however, it would depend on location, facilities (en suite?) etc. I currently pay 200 p.m. plus 50 p.m. for utilities (gas, electricity, TV, internet etc.), however, I am in a county town and not Dublin.

A rent book is a very convenient way of recording payments, especially as they only cost a few euros.

You do not have to register with anyone.

wildchild247

that clears up everything
thanks for the advice
greatly appreciated

odds_on

wildchild247 wrote: »

that clears up everything
thanks for the advice
greatly appreciated

You're welcome