New landlord but living abroad

Shy Ted

Hi guys, I'm soon to become a landlord for the first time; however, I'm living abroad and a close relative has agreed to look after the property for me.

I'm registering with the RTB as a landlord, and I've downloaded a template lease agreement which I'll probably have to amend slightly.

What I'm concerned about, is that I can't officially sign the document and have it witnessed by the tenant.
Is it acceptable to write into the contract that my relative will be a proxy on my behalf or acting landlord?
Or do I have state that they are acting as an agent or something of that nature?

Any advice would be greatly appreciated, cheers.

riclad

You can put the relative down on the form as the agent,
he can collect rent ,
sign forms , deal with repairs etc
on form 11 investors tax return ,theres a space on it agent,s name .
See www.revenue.ie form 11 ,
for use by investors, landlords etc under the revenue tax self assessment
scheme .
You can claim the fees for an agent and accountant as tax allowances .
All tenants must be registered with the prtb .
see www prtb.ie
put in the lease joe bloggs eg ,relative name , is the agent who will collect rent .

Either nominate the relative as agent or pay out and hire a professional agent. Otherwise the tenant will be legally required to withhold rent for the Revenue (when landlord is abroad). I wouldnt trust many tenants to safeguard such monies and give them to Revenue on my behalf.

lcwill

Pay a professional letting agent.

Im also a Landlord and living abroad and paying an agent is worth every penny. I would use family or a friend but only if they knew what they were doing. otherwise they are just a liability to you and a pain to your tenants.