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Renting Out A Parking Space??

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  • 24-04-2006 12:10pm
    #1
    jebusmusic
    Closed Accounts Posts: 595 ✭✭✭


    I just moved into an apartment it town, (beside Jervis St Centre) which includes a parking space in an underground, secure car park with 24hr access.

    I dont drive, so I was thinking about renting it out to someone, for say €100 per month.

    Has anyone done this (either as the Owner or renter?)

    I'm just wondering about the 'legality' of it, i.e. is it frowned upon by landlords?


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    #2
    BendiBus
    Closed Accounts Posts: 2,075 ✭✭✭BendiBus


    It could be in breach of the tenancy agreement. It could also breach the rules even for the property owner. The Revenue Commissioners will also need to know.

    But if you can sort all that out, I think you might do better than €100 for Jervis St.


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    #3
    jebusmusic
    Closed Accounts Posts: 595 ✭✭✭jebusmusic


    Why would the Revenue Comissioners need to know?

    Would I have to register it as a taxable income??

    I know it's probably worth more, but if I price it low, it should be let quickly and with less hassle.


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    #4
    paulm17781
    Closed Accounts Posts: 4,858 ✭✭✭paulm17781


    In apartment blocks you can generally rent out the spaces. In my building there are about 10 spaces and only 2 are used by apartments (There are 36 apartments). I often see signs up renting them but I do not know if it is owners or tennants who do it. It may be frowned upon as you do not own the space but I am not certain. Maybe see if you have any friends who are interested. You could keep it relatively quiet that way and have a list of good excuses for the landlord.


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    #5
    MorningStar
    Closed Accounts Posts: 3,031 ✭✭✭MorningStar


    jebusmusic wrote:
    Why would the Revenue Comissioners need to know?

    Would I have to register it as a taxable income??

    I know it's probably worth more, but if I price it low, it should be let quickly and with less hassle.
    Because it is income you should register and yes it is taxable.

    Unless your lease says you can sublet your landlord can kick you out and also report you to the tax man. As a landlord that is what I would do to protect myself from tax liability.


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