becoming a landlord. properly.

P

pcocp

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Looking for some advice,

If a person owns a property that they were planning on renting in the future, but due to a change in plans are now going to rent it much sooner, what do they need to do to get set up properly as a landlord, as quickly as possible?

The house has never been rented before, and the owner has never been a landlord previously.

The owner of the house has found a particularly reliable tenant, and wants to get things sorted so as not to lose this tenant. The tenant is in receipt of some rent allowance, but not much. However, the tenant needs the owner of the house to sign Social Welfare forms to continue the rent allowance while at the new address.

The owner has no problem signing rent allownace forms for the tenant, but is wondering can he or should he given that he is not yet registered with the PRTB(?) or revenue re rental income from the house.

So, is he in position to sign the forms? and, what/where does he need to register with re becoming a landlord? (revenue/PRTB/ etc...bearing in mind he is a complete beginner at this!)

Thanks in advacne,
PCOCP.
 
Hi there,

You can download the forms from the PRTB website, fill them out & get your potential tenant to sign also. post off with 70.00 cheque. If you are late registering (28 days after letting agreement) you are liable for 140.00

I signed my tenants rent allowance forms. She receives it as far as I know. AFAIK the social done corresponde with the landlord but im open to correction.
 
Don't forget if this is a second home your friend will also be liable for property tax currently €200 I think. Councils get their info off PRTB so don't try and avoid it. They should also inform their insurance brookers if they have the house insured. The rental income is taxable so should be declared re self assessment but don't forget to check out any capital allowances which can be offset against the income. Revenue have a very good leaflet out which will explain all this follow link below. http://www.revenue.ie/en/tax/it/leaflets/it70.html
Hope this is of some help
 
shootingstar said:
Hi there,

You can download the forms from the PRTB website, fill them out & get your potential tenant to sign also. post off with 70.00 cheque. If you are late registering (28 days after letting agreement) you are liable for 140.00
Click to expand...

Shootingstar - thanks for reminding me - I owe you a pint! Slim
 
Hello there,
I am trying to let my house but have had no luck to date, I was thinking of giving it to the Co.Council to let, Would anyone have any advice on their own experience or be able to point me in the right direction regrding any liabilites I would be leeting myself in for.

Any advice welcome.
 
Santa said:
Hello there,
I am trying to let my house but have had no luck to date, I was thinking of giving it to the Co.Council to let, Would anyone have any advice on their own experience or be able to point me in the right direction regrding any liabilites I would be leeting myself in for.

Any advice welcome.
Click to expand...

Where are you renting?
 
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