RAS versus private renting

M

mellaw

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Hi am based in Sligo. Any idea how much would I get for a 3 bed semi on the RAS scheme. For those of you involved what are the pros and cons? Many thanks
 
Your local RAS office in Sligo will be able to advise on the going rental rate for your area. Usually slightly lower than the going rate for private lettings.
I have a house rented in Lucan, Dublin to RAS for the last year and so far, all is good.

Pros: The tenants were well vetted, they need Garda clearance before they can apply for RAS. Long term rental security for landlord, regardless of whether the property is occupied or not. Rental income is paid directly by RAS into bank account.

Cons: none that I can see so far. If you need to sell the property during the term of the RAS contract, adequate notice is required.

Hope this helps.
 
Cons: You have no say in what tenant is put into your house, even with garda vetting.
You have no deposit to cover any potential damage to your property.
 
Property let by a Landlord under the RAS scheme to a local authority is exempt from the annual property tax of e200 (this figure is set to rise ) and this tax cannot be offset against rental income added to the fact the rent lands in your A/C without fail every month.
 
Last edited:
Knuttell said:
Property let by a Landlord to a local authority is exempt from the annual property tax of e200 (this figure is set to rise ) and this tax cannot be offset against rental income....
Click to expand...

Not doubting you, but this comes as something of a surprise; As an unavoidable expense, I had simply assumed that this would be allowable. Is there a specific statutory restriction on deductibility of this sum and can you point me to it for future reference?

thanks
EDIT - checked this since and it appears to be a statement from Revenue. Sucks........
 
I got this information from the Revenue themselves and do not have link as such,being able to deduct the e200 though would in effect make it Revenue neutral and defeat the purpose of the tax.
 
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