Sample rental agreement

Silver 22

New Member
Messages
6
Hello ,
I am just wondering if anyone might guide me in drafting a simple tenancy agreement for letting of a house for max a 2 year period.
I know it is up to me to decide what is / is not included - refuse , wi fi etc . No bills included . Inventory listed on commencing rental period.
Month`s rent held as a deposit .
If the property is let for cash , I`m sure the same tenants rights apply . That`s just an IF question .
As I am already employed and pay the higher rate of tax on a share of my income , I wonder will rental income be taxed also at the higher rate ..ie will Revenue combine my employment and rental income or would the rental income be taxed at 20% independent to my employment.
Id be happy for some advice ,
Thank you ,
Silver 22 .
 

Thirsty

Frequent Poster
Messages
2,731
Check Threshold for tenancy book.
Read up on the RTB site.
Six weeks rent for deposit.
You will pay tax / prsi on rental income.
Get a tax agent to do your returns, worth every penny.
I'm not sure what you mean by "let for cash"?
 

Silver 22

New Member
Messages
6
Thank you for your replies ...I should have explained the property will be available for a 2 year period max as family member plans on using it in retirement.
Tax agent definitely the best option .
Thank you again .
 

Leo

Moderator
Messages
11,866
Is that the case really? I dont get that.
It is currently one of the few reasons a landlord is allowed to terminate a lease, but there are increasing demands for it and sale of the property to be removed to give tenants more security.
 

AndroidMan

Registered User
Messages
49
So there are demands that an owner cannot move their elderly parents into the house or sell the house if they need the money??
Neither points really relevant to my circumstances but I am astounded by this.
 

Leo

Moderator
Messages
11,866
So there are demands that an owner cannot move their elderly parents into the house or sell the house if they need the money??
Neither points really relevant to my circumstances but I am astounded by this.
Yes, including part of the Green Party program for government.
 

Thirsty

Frequent Poster
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2,731
It is currently one of the few reasons a landlord is allowed to terminate a lease, but there are increasing demands for it and sale of the property to be removed to give tenants more security.
I'm out if that happens, at the very least I expect to be allowed to sell a property I own.
 

Silver 22

New Member
Messages
6
That`s shocking . I`m not a follower of the upcoming Green Party proposals etc but what is someone expected to do if they cannot sell their asset . That complicates things really as regards rental so leaving it vacant for 2 years seems like a less tumultuous option . Complying with RTB and Revenue is no bother at all but definitely not willing to be unable to terminate a lease if / when desired .
 

AndroidMan

Registered User
Messages
49
What if the owner was to die? And the asset is left to the children? Can they not sell if there are tenants??
This is complex and messy!
And sorry for going off topic O/P!
 

Silver 22

New Member
Messages
6
Both worries at all ...I'm learning loads from the experts here ! I'm definitely a small fish in a big pond!
 

Feemar5

Frequent Poster
Messages
421
Regarding Revenue you will probably have to register for ROS and complete form 11. Your PAYE and profit from renting will be added together and taxed accordingly. You will also have to pay USC and PRSI.
 

L_earner

Frequent Poster
Messages
81
"A fixed term tenancy is a tenancy that lasts for a specific amount of time. A ‘Part 4’ tenancy runs alongside a fixed term tenancy, which means the tenant shall, after a period of 6 months and as in the normal course, become entitled to the provisions of a ‘Part 4’ tenancy (i.e. they can stay in the property for 4 or 6 years*). Source: RTB. https://www.rtb.ie/beginning-a-tenancy/types-of-tenancies-and-agreements/fixed-term-tenancy
The asterisk refers to the date of the start of the tenancy. If it started before December 24th 2016 tenants can stay in the property for four years.

There seems to be a messy conflict of laws here. If I sign an agreement with a person to let them my property for a fixed term, say for three years, in return for a specific consideration, and subject to terms and conditions to which we both commit, we are both knowingly entering into a legally binding contract. Would a court rule that it is unenforceable? I am not so sure. The principles of Contract law are are long established.
 

Thirsty

Frequent Poster
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2,731
You can't enforce a contract that contradicts the law as set out in the relevant Act. That itself is one of the principles of contract law.

So if, for example, you gave your tenant notice to quit on the grounds that their 3 year lease was ending; the tenant can refuse to leave, and as long as they continue to pay rent, you will not succeed in getting an eviction order on those grounds.
 

Silvius

Registered User
Messages
52
Thirsty is absolutely right. If your family member needs to move in after two years you're taking a risk by renting it. You're at the mercy of the tenant here, if they dig their heels in and decide to claim their Part 4 tenancy you might have great difficulty getting them out. One solution might be to only rent for 6-month periods, once the tenant stays a day over 6 months they have rights to a Part 4 tenancy.
 
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