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Renting out Affordable Home 2018

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  • 11-03-2018 9:07pm
    #1
    BritanyBitch
    Registered Users Posts: 11 ✭


    Hi guys, I can't seem to find any recent threads here on this so ill start a new one. I have been living in my affordable housing home for 10 years my circumstances have changed now and I would like to move in with my partner into his house. I know previously the council wouldn't allow you to rent out the property but considering there is a housing crisis has anything changed ? Will they allow me to rent it out ? Cheers :)


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    #2
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,313 Mod ✭✭✭✭Gumbo


    BritanyBitch wrote: »
    Hi guys, I can't seem to find any recent threads here on this so ill start a new one. I have been living in my affordable housing home for 10 years my circumstances have changed now and I would like to move in with my partner into his house. I know previously the council wouldn't allow you to rent out the property but considering there is a housing crisis has anything changed ? Will they allow me to rent it out ? Cheers :)

    The council brought out a new rule a few years back that allows you to rent it out now. But you must discuss with them I believe.

    Do you still have the council mortgage or have you bought it out with a private mortgage? Are you on full,payment or 50/50?

    These questions will dictate what you can do.
    But basically, it’s allowed. You just have to touch base with the housing section that deals with your estate and you get permission from them.

    Recently went through the process with a friend in Dublin.


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    #3
    BritanyBitch
    Registered Users Posts: 11 ✭BritanyBitch


    kceire wrote: »
    The council brought out a new rule a few years back that allows you to rent it out now. But you must discuss with them I believe.

    Do you still have the council mortgage or have you bought it out with a private mortgage? Are you on full,payment or 50/50?

    These questions will dictate what you can do.
    But basically, it’s allowed. You just have to touch base with the housing section that deals with your estate and you get permission from them.

    Recently went through the process with a friend in Dublin.

    Thank you I have the full mortgage with a bank. I have no issues paying the taxes etc I'd like to do it by the book so I'll give the council a buzz thanks so much :)


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    #4
    ted1
    Registered Users Posts: 23,516 ✭✭✭✭ted1


    The councils have no issue with renting out shared ownership of affordable housing.


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    #5
    shaddupayaface
    Registered Users Posts: 115 ✭✭shaddupayaface


    BritanyBitch wrote: »
    Thank you I have the full mortgage with a bank. I have no issues paying the taxes etc I'd like to do it by the book so I'll give the council a buzz thanks so much :)

    Did you contact the council? In a similar position and would be interested to hear how you got on. Thanks


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    #6
    BritanyBitch
    Registered Users Posts: 11 ✭BritanyBitch


    shaddupayaface wrote: »
    Did you contact the council? In a similar position and would be interested to hear how you got on. Thanks

    I haven't got around to it yet but I'll let you when I do


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    #7
    BritanyBitch
    Registered Users Posts: 11 ✭BritanyBitch


    BritanyBitch wrote: »
    I haven't got around to it yet but I'll let you when I do

    I contacted the council they'll only let you rent out the property if it's in negative equity mine isn't so I can't rent it out. I offered it to them to rent and thought they jump at the chance cause of the housing crisis but nope it's not allowed :(


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    #8
    bigpink
    Banned (with Prison Access) Posts: 4,552 ✭✭✭bigpink


    What is an affordable housing home?


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    #9
    shaddupayaface
    Registered Users Posts: 115 ✭✭shaddupayaface


    BritanyBitch wrote: »
    I contacted the council they'll only let you rent out the property if it's in negative equity mine isn't so I can't rent it out. I offered it to them to rent and thought they jump at the chance cause of the housing crisis but nope it's not allowed :(

    I don't think many homes purchased under AH would be in NE now with the way things have turned. Which CC was this? I wonder what would happen if one went ahead and rented it out anyway?


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    #10
    shaddupayaface
    Registered Users Posts: 115 ✭✭shaddupayaface


    bigpink wrote: »
    What is an affordable housing home?


    http://www.citizensinformation.ie/en/housing/owning_a_home/help_with_buying_a_home/affordable_housing.html


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    #11
    BritanyBitch
    Registered Users Posts: 11 ✭BritanyBitch


    shaddupayaface wrote: »
    I don't think many homes purchased under AH would be in NE now with the way things have turned. Which CC was this? I wonder what would happen if one went ahead and rented it out anyway?

    Hello it's South Dublin County Council about 90% of the affordable housing units in my place are rented out maybe they turn a blind eye I'm not sure


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    #12
    BritanyBitch
    Registered Users Posts: 11 ✭BritanyBitch


    ted1 wrote: »
    The councils have no issue with renting out shared ownership of affordable housing.

    Hello again How do you know this ? I'm on the verge of selling up at this stage
    Cheers


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    #13
    shaddupayaface
    Registered Users Posts: 115 ✭✭shaddupayaface


    BritanyBitch wrote: »
    Hello it's South Dublin County Council about 90% of the affordable housing units in my place are rented out maybe they turn a blind eye I'm not sure

    Maybe they do or maybe the owners just didn't say it to them and they don't know. Are you still caught in the clawback? I would appreciate if you could let us know how it goes if you decide to sell up. Thanks


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    #14
    ted1
    Registered Users Posts: 23,516 ✭✭✭✭ted1


    ...


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    #15
    ted1
    Registered Users Posts: 23,516 ✭✭✭✭ted1


    BritanyBitch wrote: »
    ted1 wrote: »
    The councils have no issue with renting out shared ownership of affordable housing.

    Hello again How do you know this ? I'm on the verge of selling up at this stage
    Cheers
    Because my wife got one from Dublin City. It’s rented out to tenants who are getting rent allowance from Dublin City
    We’ve told them i have a house which we live in and of hers was not rented the mortgage would no be paid. They said yes we fully understand, that’s ok.


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    #16
    BritanyBitch
    Registered Users Posts: 11 ✭BritanyBitch


    ted1 wrote: »
    Because my wife got one from Dublin City. It’s rented out to tenants who are getting rent allowance from Dublin City
    We’ve told them i have a house which we live in and of hers was not rented the mortgage would no be paid. They said yes we fully understand, that’s ok.

    Thanks for that SDCC dont want to know at all it's a flat out no you can't rent it out even if I give it to them. I'll just have to find a way thanks


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    #17
    Happy4all
    Closed Accounts Posts: 2,089 ✭✭✭Happy4all


    What's the tax position. Need to register with RTB? Claim a deduction for % of interest and no deduction for rent paid to council?


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    #18
    BritanyBitch
    Registered Users Posts: 11 ✭BritanyBitch


    Happy4all wrote: »
    What's the tax position. Need to register with RTB? Claim a deduction for % of interest and no deduction for rent paid to council?

    Yes I'll have to register with RTB, I'm not sure what you mean my full mortgage is with the bank even though it's affordable housing. My brothers accountant advised that rent is classed as income so regardless what my mortgage is 50% of the rent goes to the tax man.


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    #19
    dar100
    Registered Users Posts: 1,735 ✭✭✭dar100


    DCC allow you to rent, there's a application process on their website


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    #20
    ted1
    Registered Users Posts: 23,516 ✭✭✭✭ted1


    Happy4all wrote: »
    What's the tax position. Need to register with RTB? Claim a deduction for % of interest and no deduction for rent paid to council?
    The rent paid to the council is 100% deductible.


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    #21
    ted1
    Registered Users Posts: 23,516 ✭✭✭✭ted1


    BritanyBitch wrote: »
    Happy4all wrote: »
    What's the tax position. Need to register with RTB? Claim a deduction for % of interest and no deduction for rent paid to council?

    Yes I'll have to register with RTB, I'm not sure what you mean my full mortgage is with the bank even though it's affordable housing. My brothers accountant advised that rent is classed as income so regardless what my mortgage is 50% of the rent goes to the tax man.
    Get anew accountant.
    Rent you pay to the council is fully dedcuctible.
    You pay USC on all rent received. However you minimise your tax bill by deducting expenses
    I.e any maintenance, insurance , rent , mortgage interest , depreciation etc


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    #22
    Catlady76
    Closed Accounts Posts: 82 ✭✭Catlady76


    BritanyBitch wrote: »
    Hi guys, I can't seem to find any recent threads here on this so ill start a new one. I have been living in my affordable housing home for 10 years my circumstances have changed now and I would like to move in with my partner into his house. I know previously the council wouldn't allow you to rent out the property but considering there is a housing crisis has anything changed ? Will they allow me to rent it out ? Cheers :)

    There is no problem with this I had a one bed affordable apartment I rented it out for 3.5 years, I told the council about it first they had no issues at all as I had my mortgage with a bank and not them and also there was a shortage on the rental market. If you do rent it out make sure you are up to date on all your income tax returns or else you will get caught out with revenue and end up with a large bill. Get someone to show you how to do a return so you have everything correct. Best of luck.


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    #23
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Just wondering if anyone has any experience renting out an affordable home in Clare. I bought my affordable home 11 years ago so I am still within the clawback period. My personal circumstances have changed and I need to move to be nearer to family/friends. I probably won’t sell the house for a few years but would like to rent it out. I would profit on the house by renting it. Should I just rent it out and say nothing? Was thinking if I technically kept a room (the box room) in the house I wouldn’t have to register as a landlord. Obvs I wouldn’t be staying there or anything but just for tax purposes. Want to move ASAP because I’ve seen a house to rent nearer my family


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