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Renting out a room in my house. What's required?

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  • 22-11-2014 1:28pm
    #1
    corglass
    Registered Users Posts: 1,113 ✭✭✭


    Hey guys,

    I'm about to rent out a room in my house (primary residence) in Dublin.

    As it's my primary residence I understand I don't need to register with the PRTB.
    Should I have a contact?
    As I'm sharing with my GF, I was thinking of splitting all bills 1/3 to 2/3.
    Any wisdom or tips?


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    #2
    The_Morrigan
    Registered Users Posts: 9,368 ✭✭✭The_Morrigan


    Read [URL="[url]http://www.citizensinformation.ie/en/housing/owning_a_home/home_owners/rent_a_room_scheme.html[/url]"]this[/URL] & [URL="[url]http://www.revenue.ie/en/tax/it/leaflets/it70.html#section11[/url]"]this [/URL]

    As you have to declare all monies received under the rent a room scheme (rent & bills) you are better off finding a fixed price over the month inclusive of bills otherwise your tax return it going to be a nightmare as you'll have to retain every single bill and proof of payment received from your tenant for their portion - you'll also have to keep these for a number of years in the event of an audit.

    Be very clear of house dynamics and what you expect from a licencee from the outset.
    Do not organise a contract as you'll be tied to it and that makes matters worse, if you wish to get rid of a licencee then you can ask them to leave immediately (if they are being troublesome/antisocial behaviour) or with reasonable notice under normal circumstances.


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