Investor - Do I have to join PRTB

B

Bettybee

Guest
Hi, I have a question regarding an investment property which I co-own. We have a principle property and bought a second property in 2006 as an investment. Is it wise to register with PRTB or will we just continue renting it and not saying anything to anyone. The rental income is less than €10,000 per year and only covers part of the mortgage repayments. If we register can we claim anything back? I also would like to know if banks are still offering tracker mortgages, we fixed our mortgages with BOI and one of them is up in July, I am justing wondering if they will offer an ECB rate again. I have asked what they will charge for us to move to variable now and its a fortune. Thanks a mill
 
Not registered with the PRTB? You're breaking the law.
Are you declaring your rental income to Revenue?
 
You have to by law register with the PRTB.

So your collecting rent and not declaring and wondering can you claim anything??
 
I would register with the PRTB, even out of self interest.
The neighbours reported our tenants for noise to the PRTB and it was just as well we were registered. As far as I now if you register now you will just pay the late registration fee....but I would definitely do it. If their is any conflict with the tenant it is the PRTB will be the first port of call.
There is useful info on their site www.prtb.ie

I have put the registration cost down against the income.

As far as I know the banks have lost their shirts on tracker mortgages and I'm thinking it will be a cold day in hell before they offer new ones.
 
As other posters have pointed out you must register with PRTB.

Have a look at [broken link removed] which sets out the main obligations on the landlord.

How your investment is performing, how the mortgage payments are being made, what you income level is is immaterial-you must register and I have been told fairly reliably that the PRTB will be sharing their database with Revenue in the not too distant future.

So if you have a tenant and residential letting agreement I would advise you to register immediately as it only costs €70.

Even if you do not register your tenant can go to them anyway in the event of a dispute.
 
Unless you are registered with the PRTB (of whom I think are a total waste of space) you cannot claim for the interest you pay on your mortgage against your tax.
 
Bettybee said:
Is it wise to register with PRTB or will we just continue renting it and not saying anything to anyone.
Click to expand...
Oh dear, you had better register with the PRTB asap. As you don't seem to have a clue about being a landlord can you read the PRTB website, particularly the part about tenant's who take landlords to a dispute resolution, also the AAM guide to renting property and the revenue guide to renting and also the revenue guide to taxes, penalties and interest on non declaration of income.
 
Many thanks to all for your replies. Will fill in the registration form today.
 
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