Moving Abroad and renting house

[EC1fo]

Hi,

My work are transferring me abroad for a couple of years. I need to rent my house while I am away and don't want to sell it as I need somewhere to live when I come back! How much tax do I expect to pay? It will be my only income in Ireland. My mortgage is around 900 and I am planning to rent it to a friend for 1100. What other expenses are there? I understand you only get 75% relief on your interest payments?

Sorry -> I'm new to this so I don't really know much about it.

Thanks in advance!

 

[facetious]

Have you read and do you know the Residential Tenancies Act 2004?
Do you know all the landlord’s obligations?
Do you know what standards you must have the property in as regards Structural Condition, Sanitary Facilities, Heating Facilities, Food Preparation and Storage and Laundry, Ventilation, Lighting, Fire Safety, Refuse Facilities, Electricity and Gas?
Will you have to register with the PRTB.
You will have to have a BER certificate.
You will have to have someone that can be contacted in emergencies
If you have a mortgage, you should notify your lender (and mortgage changed to a buy to let mortgage with higher interest rates).
You will have to have a landlord’s insurance.
What type of lease will you use?
What are the implications of a Part 4 Tenancy
What are the implications of regaining possession if your tenant has a fixed term lease.
And what will you do if your tenant doesn’t pay the rent or is anti-social, or that some appliance in the apartment is not working properly?
You are liable for NPPR, Household charges, PRTB Fees.
If you don't have an agent "either family, friend or professional" to look after your tax affairs for this "business", the tenant should with-hold 20% of the rent and forward it to the Revenue as your tax liability.