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Owner occupier - renting out two rooms

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  • 05-08-2005 10:40am
    #1
    smarten31
    Closed Accounts Posts: 74 ✭✭


    Hi

    I recently purchased a house and have decided to rent out two of the rooms.

    Looking for some advice on what checks I need to do with potential housemates... what checks are normally done today? references ? etc

    what is the norm with deposits..usually one month in advance?

    is it advisable to have a contract written up?


    any help you can provide would be appreciated


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    #2
    jhegarty
    Registered Users Posts: 6,440 ✭✭✭jhegarty


    smarten31 wrote:
    Hi

    I recently purchased a house and have decided to rent out two of the rooms.

    Looking for some advice on what checks I need to do with potential housemates... what checks are normally done today? references ? etc

    what is the norm with deposits..usually one month in advance?

    is it advisable to have a contract written up?


    any help you can provide would be appreciated

    not what you are looking for , but make sure you are aware of the tax problem with renting more than one room....


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    #3
    ck1
    Registered Users Posts: 123 ✭✭ck1


    The Revenue Rent a Room Scheme is not limited to one room. The limit is on the income received from all rents on rooms in that persons personal residency. The limit I think is €7620 per residence. Remember if the residency is jointly owned then the limit is divided between both parties.


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    #4
    Victor
    Registered Users Posts: 78,388 ✭✭✭✭Victor


    smarten31 wrote:
    I recently purchased a house and have decided to rent out two of the rooms.
    If you go for the Rent-a-room scheme I think the rent (including ESB, food, etc.) needs to be under €7,620, otherwise everything is taxed.
    smarten31 wrote:
    Looking for some advice on what checks I need to do with potential housemates... what checks are normally done today? references ? etc
    Interview people by appointment. Interview them with a friend present. Get some form of reference to see they are solvent, even if its a few months bank statements showing a positive balance and regular income.

    More for people that are sharing than for you, but making everyone responsible for at least one bill would be good. This may not suit you. If they want a special subscription (Sky Sports, broadband), make them pay for it themselves.
    smarten31 wrote:
    what is the norm with deposits..usually one month in advance?
    A one month security deposit and September's rent paid at the start of September (whether thats 1st September, first monday in September or whatever)
    smarten31 wrote:
    is it advisable to have a contract written up?
    Most certainly, even if it is a short summary, its better than nothing. It sets down the ground rules. There may even be a standard form for lodgers. AFAIK you don't have to register with the PRTB www.prtb.ie but I wonder if it would be an idea.


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    #5
    smarten31
    Closed Accounts Posts: 74 ✭✭smarten31


    Thanks to you all :-)


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    #6
    rummy
    Closed Accounts Posts: 26 ✭rummy


    Definitely have a contract between you and the tenants. You should also take an inventory of whats in the apartment and ensure that they are aware of the fact that all breakages have to be paid for.

    In your contract you would state the fact that 1 months rent is to be paid in advance. Also how bills are to be divided and paid for.

    I have requested 2 references from people and it was very enlightening by having them!!


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