Should I register PRTB? Help please!

puppy29

Hello, everyone, could you please help me to clarify my situation regarding the PRTB registration?

I jointly owned a property with a friend. And I will rent this place out to my son which my friend agrees as we all know the apartment will be well looked after. We also agreed there is no need for a written tenancy agreement as we trust each other.

I checked PRTB website about exemption for registering, one exemption is "A dwelling in which the spouse, parent or child of the landlord is resident and there is no written lease or tenancy agreement."

Now the question is: he is my son, but not my friend's. Should I register with PRTB or should my friend register? Or should both of us or neither of us register?

I did email PRTB but got the following reply: "It is the landlords legal obligations to register their tenancies with the PRTB. However, some houses are exempt from registering with the PRTB.The PRTB cannot advise in this situation, the landlord has to make an independent decision on whether he/her has to register.

It’s not clear at all. Really confused now…
Anyone of you had similar situation? Any suggestion?

Thank you all in advance.

Michael D Not Higgins

I'd say you're fine. He's your son so you're exempt. That's how I'm reading it.

*I am not a lawyer and this is not legal advice.*

Mrs OBumble

Who will the rent be paid to? Who will be declaring the income to Revenue?

puppy29

Mrs OBumble wrote: »

Who will the rent be paid to? Who will be declaring the income to Revenue?

Thank you, Mrs OBumble.

The rent will be paid into the bank to cover the mortgage. The bank account has my name and my friend's name on it. We own it 50/50.

Regarding declaring income to revenue, that's a good question, I say should be both of us?

If we don't register with PRTB, we cannot claim mortgage interest relief.

But we are kind of exempted to register with PRTB in this case...

Any opinion is welcome. Thank you.

Mrs OBumble

puppy29 wrote: »

If we don't register with PRTB, we cannot claim mortgage interest relief.

But we are kind of exempted to register with PRTB in this case...

That's the answer then: register.

Exempted means "don't have to". It does not mean "may not".

And there are benefits to you in registering, including the removing the risk that your friend could face a complaint about not registering if something when wrong, and the fast that you both can claim MIR (assuming you can - it's not something I know about).

NB The cash will be put into a bank account. But that account is in both your names, so really the rent is being paid to you, even if you are immediately giving it to the bank. Between both of you, all the income needs to be declared to Revenue.

puppy29

Thank you very much for your advice, Mrs OBumble.

I will register today. Really appreciate.