What to do with empty house in Dublin?

Thelonious Monk

Hi all. I had been renting out my spare room in my 2 bed terrace house to a friend, in Dublin 5, for 400e a month. It’s a nice house I refitted the whole thing about 3 years ago. Anyway he moved out today. The thing is my parents house is empty about 8 months of the year so I stay there sometimes while they’re away. I was thinking maybe I should do something with my own house while they are away, like short term letting or something? Would it be possible to rent a place out for a month or two at a time, in a secure safe way? Airbnb seems like hassle and I’m not sure tourists want to stay in Edenmore, although it’s very quiet where I am! So if I was to charge say 1000 for a month, is it worth my while? I work full time and earn around 40k, would I lose most of the 1000 on tax?
I feel kind of bad having empty rooms during a housing crisis too so if anyone can help that would be great.

Fol20

Not to be smart but if you really cared about the housing crisis, you could provide to a family for free as it is your social obligation(apparently :rolleyes:) to do this.

In reality, the best thing to do would be to still use rent a room if you can, let one of the bedrooms and "live" in another room. This way, you avoid paying 50pc in tax and have full control of the property.

PhilOssophy

Get a letting agent to manage renting it to some working people. They need housing in Dublin.......

SCOOP 64

what about student accommodation, if its not the whole year might suit you.

IAMAMORON

Become a member of Airbnb and rent it out when available.

Portsalon

Dealing solely with your question regarding tax, if you availed of Revenue's Rent a Room Relief, you could take in up to €14,000 annually without being liable to pay any tax. But not if you go the AirbnB route.

https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/land-and-property/rent-a-room-relief/what-conditions-must-be-met.aspx

Rent the room out again to someone the same as you have been doing but ask for the maximum rent that you can possibly get for it. Once you still spend some time living in the house you can continue to avail of rent a room relief and earn it all tax free.

If you can get 600 a month for the room tax free it’s the same as getting 1200 a month if you were taxed on it and it’s much less hassle and far safer for you as the person has no rights.

legron

Hiya, why don't you place an advert in Beaumont Hosp. In Jan & July of each year doctors on rotation are always looking for accom near the hospital for 6 months or longer. Maybe something to think about.

KaneToad

Rent a room is the perfect solution for you. Up to 14,000 tax free! Retain the smaller of the bedrooms as yours. Rent out the bigger one. Come and go as you please - stay at parents when it suits. If unhappy with "renters", easy to move them on as they are licencees and not tenants.

Thelonious Monk

KaneToad wrote: »

Rent a room is the perfect solution for you. Up to 14,000 tax free! Retain the smaller of the bedrooms as yours. Rent out the bigger one. Come and go as you please - stay at parents when it suits. If unhappy with "renters", easy to move them on as they are licencees and not tenants.

Yeah I think that's probably the best bet, thanks

Edgware

Thelonious Monk wrote: »

Yeah I think that's probably the best bet, thanks

Rent a room, you can come and go as you wish to keep a eye on it. Plenty of people looking for a room, airport employees, Beaumont hospital etc. Bar the odd gent Edenmore is fairly settled and people can come and go without any hassle

spurious

St. Joseph's hospital and the hospice right beside you too.

Thelonious Monk

Edgware wrote: »

Rent a room, you can come and go as you wish to keep a eye on it. Plenty of people looking for a room, airport employees, Beaumont hospital etc. Bar the odd gent Edenmore is fairly settled and people can come and go without any hassle

Its quiet nowadays. Although i was kept awake for ages by garsa chopper over my house at 2am last night!