Approx Return From Letting a House

[eirman]

I would appreciate it if someone some accountancy knowledge could do a rough calculation for me.

THE SUBJECT: Retired person over 66 not in receipt of any State or Private pension.
INCOME: The only income is €1,000 per month rent from a small country house with no mortgage.

Gross Weekly income = €230
Net Weekly income = €???

Ignoring possible void periods, but taking Tax, PRSI and typical landlord expenses into account
what would the Net weekly income be?

 

[AAAContributor]

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This will do the job for you.

No PRSI payable after the age of 66.

No USC due as income <€13,000 per annum.

Income is liable to income tax but I'd imagine most of the tax due, if not all, is soaked up by tax credits.

Typical landlord expenses - how long is a piece of string? Is the tenancy required to be registered with the RTB? What condition is the property in? What expenses has the property owner typically had to incur during their ownership?

 

[eirman]

Thanks AAA - No PRSI or USC or TAX greatly simplifies the situation.