Hi, Like many people, we have bought at the wrong time (2007) and we cannot sell our apartment. The only option we have is to rent it and then go rent the three bedroom house we are looking for. I realise now that there are tax implications in doing this (even though the rent won't cover fully the mortgage) and I'm looking for information of what those tax will be. I did a bit of reading on the Revenue website but I need help just to make sure I get a rough number of what this is going to cost us (so I can budget for it). I will get an accountant to do that more accurately. Our mortgage is €1050 a month, Mortgage allowance €130 (which I believe we will loose when we rent our property). Rent: €900, accounting for 1 month no rent, total for the year €10000 Deductions: Housecharge 100 Maintenance fee 900 Mortage Interest @2% 5300 Boiler service 79 Mortage protection 670 letting agency 1000 Total = €1951, Income tax @ 41%, USC @ 7% and PRSI @ 4%, I owe €1014 to Revenue. This is a rough calculation but does it look correct? Also, what make sense in order to not pay tax? reduce the rent? do more yearly renovation in the apartment? Thanks in advance.