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Can I rent out a room if I'm a first time buyer?

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  • 08-01-2009 12:55pm
    #1
    Goolay
    Registered Users Posts: 603 ✭✭✭


    Hi guys,

    I own a 2 bed apt and was wondering what I need to do in order to rent out a room? I have only owned the apt for 13 months. I recall reading something last year about having to own a property for a certain period before you can rent it out or you have to pay Stamp Duty back if first time buyer. Is this correct?

    Would this be covered under the rent-a-room scheme?
    Tagged:


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    #2
    Kooli
    Registered Users Posts: 1,312 ✭✭✭Kooli


    My understanding is that this would fall under the 'rent a room' scheme, and shouldn't be a problem at all. You're entitled to rent out a room and don't pay tax on any rental income under 10k. I don't think how long you've lived there matters.


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    #3
    Goolay
    Registered Users Posts: 603 ✭✭✭Goolay


    Great, thanks Kooli - sounds good. The person who we'd be renting out to has recently been laid off so we'd be looking to rent it out for a very low amount around €300 p/m(as a favour more than anything else). The person would be looking to claim rent allowance also.

    Many thanks


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    #4
    glombard8
    Closed Accounts Posts: 4 ✭glombard8


    You can rent out a room or rooms in your private property and earn up to 10000 euro tax frre p.a.! There is an Irish website that gives more details and you can advertise your room for free on it. The site is called www.accommodationmondaytofriday.ie
    Hope this helps
    Dublin579 wrote: »
    Great, thanks Kooli - sounds good. The person who we'd be renting out to has recently been laid off so we'd be looking to rent it out for a very low amount around €300 p/m(as a favour more than anything else). The person would be looking to claim rent allowance also.

    Many thanks


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