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What to do with empty house in Dublin?

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  • 07-08-2019 2:12pm
    #1
    Thelonious Monk
    Registered Users Posts: 14,210 ✭✭✭✭


    Hi all. I had been renting out my spare room in my 2 bed terrace house to a friend, in Dublin 5, for 400e a month. It’s a nice house I refitted the whole thing about 3 years ago. Anyway he moved out today. The thing is my parents house is empty about 8 months of the year so I stay there sometimes while they’re away. I was thinking maybe I should do something with my own house while they are away, like short term letting or something? Would it be possible to rent a place out for a month or two at a time, in a secure safe way? Airbnb seems like hassle and I’m not sure tourists want to stay in Edenmore, although it’s very quiet where I am! So if I was to charge say 1000 for a month, is it worth my while? I work full time and earn around 40k, would I lose most of the 1000 on tax?
    I feel kind of bad having empty rooms during a housing crisis too so if anyone can help that would be great.


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    #2
    Fol20
    Registered Users Posts: 3,624 ✭✭✭Fol20


    Not to be smart but if you really cared about the housing crisis, you could provide to a family for free as it is your social obligation(apparently :rolleyes:) to do this.

    In reality, the best thing to do would be to still use rent a room if you can, let one of the bedrooms and "live" in another room. This way, you avoid paying 50pc in tax and have full control of the property.


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    #3
    PhilOssophy
    Registered Users Posts: 2,114 ✭✭✭PhilOssophy


    Get a letting agent to manage renting it to some working people. They need housing in Dublin.......


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    #4
    SCOOP 64
    Registered Users Posts: 5,252 ✭✭✭SCOOP 64


    what about student accommodation, if its not the whole year might suit you.


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    #5
    IAMAMORON
    Banned (with Prison Access) Posts: 9,078 ✭✭✭IAMAMORON


    Become a member of Airbnb and rent it out when available.


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    #6
    Portsalon
    Closed Accounts Posts: 702 ✭✭✭Portsalon


    Dealing solely with your question regarding tax, if you availed of Revenue's Rent a Room Relief, you could take in up to €14,000 annually without being liable to pay any tax. But not if you go the AirbnB route.

    https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/land-and-property/rent-a-room-relief/what-conditions-must-be-met.aspx


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    #7
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    Rent the room out again to someone the same as you have been doing but ask for the maximum rent that you can possibly get for it. Once you still spend some time living in the house you can continue to avail of rent a room relief and earn it all tax free.

    If you can get 600 a month for the room tax free it’s the same as getting 1200 a month if you were taxed on it and it’s much less hassle and far safer for you as the person has no rights.


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    #8
    legron
    Registered Users Posts: 6 ✭legron


    Hiya, why don't you place an advert in Beaumont Hosp. In Jan & July of each year doctors on rotation are always looking for accom near the hospital for 6 months or longer. Maybe something to think about.


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    #9
    KaneToad
    Registered Users Posts: 3,353 ✭✭✭KaneToad


    Rent a room is the perfect solution for you. Up to 14,000 tax free! Retain the smaller of the bedrooms as yours. Rent out the bigger one. Come and go as you please - stay at parents when it suits. If unhappy with "renters", easy to move them on as they are licencees and not tenants.


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    #10
    Thelonious Monk
    Registered Users Posts: 14,210 ✭✭✭✭Thelonious Monk


    KaneToad wrote: »
    Rent a room is the perfect solution for you. Up to 14,000 tax free! Retain the smaller of the bedrooms as yours. Rent out the bigger one. Come and go as you please - stay at parents when it suits. If unhappy with "renters", easy to move them on as they are licencees and not tenants.

    Yeah I think that's probably the best bet, thanks


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    #11
    Edgware
    Registered Users Posts: 5,874 ✭✭✭Edgware


    Thelonious Monk wrote: »
    Yeah I think that's probably the best bet, thanks
    Rent a room, you can come and go as you wish to keep a eye on it. Plenty of people looking for a room, airport employees, Beaumont hospital etc. Bar the odd gent Edenmore is fairly settled and people can come and go without any hassle


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    #12
    spurious
    Moderators, Category Moderators, Education Moderators Posts: 27,197 CMod ✭✭✭✭spurious


    St. Joseph's hospital and the hospice right beside you too.


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    #13
    Thelonious Monk
    Registered Users Posts: 14,210 ✭✭✭✭Thelonious Monk


    Edgware wrote: »
    Rent a room, you can come and go as you wish to keep a eye on it. Plenty of people looking for a room, airport employees, Beaumont hospital etc. Bar the odd gent Edenmore is fairly settled and people can come and go without any hassle

    Its quiet nowadays. Although i was kept awake for ages by garsa chopper over my house at 2am last night!


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