PRTB Registration

All in all

Hi, I will be renting a property to a sibling. Do I have a requirement to register it with the PRTB?
I will be renting to them at below market rate (I am not sure if this has any impact), they are aware this creates a requirement to make a return for the gift received.

Lux23

You don't if its your child, parent or spouse but not sure about a sibling. Best thing is to ring them.

Desmonddoyle

Let us know what they say - bit of a grey area when renting to family, especially when they aren't paying rent, but instead making improvements to the house or some other kind of arrangements that only very close family members would ever enter to.

I know someone who had his brother living in a house he bought as an investment. He gave his brother 10 grand to make repairs and upgrades to the house to make it habitable, so he could live there and look after it. The brother is paying this back every month, which could be considered rent I suppose. I assume he will continue paying something after the 10k is paid off, which might make it rent at that point.

All in all

I will contact them and update. I also need seek clarification as if the lease is not registered with them you can't receive mortgage interest relief.

April 73

Do you mean that you can't allow 75% of the mortgage interest against your tax bill?
Or mortgage interest relief at source which is only applicable to your principal primary residence?

All in all

April 73 wrote: »

Do you mean that you can't allow 75% of the mortgage interest against your tax bill?
Or mortgage interest relief at source which is only applicable to your principal primary residence?

I mean the 75% mortgage interest relief - which you need to have you property registered with the PRTB to avail of, or I presuming that you can also avail of if your rent agreement is exempted from this but I need clarification.

Michael D Not Higgins

All in all wrote: »

I mean the 75% mortgage interest relief - which you need to have you property registered with the PRTB to avail of, or I presuming that you can also avail of if your rent agreement is exempted from this but I need clarification.

It's not mortgage interest relief, it's a tax deductible expense allowable by Revenue.

SineadDoyle123

All in All, Just wondering if you found an answer to your question as I'm in the same circumstance myself

All in all

SineadDoyle123 wrote: »

All in All, Just wondering if you found an answer to your question as I'm in the same circumstance myself

I needed to register the tenancy with the PRTB.