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Appointing a Collection Agent

  • 13-08-2014 10:51am
    #1
    Ignorant etc.
    Registered Users, Registered Users 2 Posts: 227 ✭✭


    My wife and I will be moving overseas. We will be renting out our mortgaged home whilst we are abroad. I understand that one of the things we must do as we will be overseas is we must appoint a collection agent.

    To keep costs down we are hoping to appoint a family member. However, I just want to ask:

    By appointing a collection agent, will THEIR tax or any benefits they may claim be affected?

    The ideal person to ask would be my wife's sister, but she claims FIS and is on a low income.

    I understand another way of doing it is to get the tenant to withhold twenty percent of the rent every month and then they pay it to revenue at the end of the year and revenue then adjusts this when we submit the tax return. However, this sounds like a recipe for disaster because if we ended up with a rogue of a tenant who scarpered with the twenty percent then I assume we'd be left with revenue chasing us for the twenty percent (so essentially we would end up paying 40%, the 20% the tenant scarpered with and the 20% revenue wanted).


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