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Renting out home for once off sporting event

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  • 03-01-2020 11:18am
    #1
    JimboJones99
    Registered Users Posts: 357 ✭✭


    Hi,


    I am thinking about renting out my home for a week during a sporting event later in the year but I am not sure how to go about it.



    Is Airbnb the best or maybe only option or has anyone had previous experience of doing this?


    Thanks


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    #2
    JimboJones99
    Registered Users Posts: 357 ✭✭JimboJones99


    Thanks Mr.S,


    It seems straightforward enough to register with Airbnb but is there anything else I should loom out for?


    I see that Airbnb cover you for damages and so on but I presume that it probably isnt as straightforward as they make it sound. Best to take pictures etc, etc.


    I have a 4 bed house so maybe best to just advertise 3 and lock up the other 1 with personal/valuable items?


    I wouldnt even have a clue what to charge per night to be honest!


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    #3
    Dav010
    Registered Users Posts: 14,229 ✭✭✭✭Dav010


    JimboJones99 wrote: »
    Thanks Mr.S,


    It seems straightforward enough to register with Airbnb but is there anything else I should loom out for?


    I see that Airbnb cover you for damages and so on but I presume that it probably isnt as straightforward as they make it sound. Best to take pictures etc, etc.


    I have a 4 bed house so maybe best to just advertise 3 and lock up the other 1 with personal/valuable items?


    I wouldnt even have a clue what to charge per night to be honest!

    Jimbo, if you google Airbnb insurance, you’ll see that it is pretty poor with lots of conditions. I have additional insurance covering short let’s. You can register with Airbnb and block off all dates except the week you want, so it is simple to do.

    You could also contact event organisers and offer your house to their staff, or use booking.com. The benefit of Airbnb is that the guest pays when booking so you are guaranteed your money.


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    #4
    Living Off The Splash
    Registered Users Posts: 2,107 ✭✭✭Living Off The Splash


    There is an American Football event next August in the Aviva. Nearby hotels are quoting €350 room only for the night. I reckon that you should get double this amount easily for one night. Most travellers are staying two nights so possibly double that amount again.

    https://www.tripadvisor.ie/ShowTopic-g186605-i90-k13117368-Hotel_near_both_center_city_and_Aviva_Stadium-Dublin_County_Dublin.html


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    #5
    antix80
    Registered Users Posts: 2,419 ✭✭✭antix80


    Don't forget - airbnb share your details with revenue so you'll have to pay income tax.
    As for "ah it's only a small amount, it probably doesn't apply to me..." I'd say revenue are most likely to send you a letter in the post asking you to do a tax return online. And you'll be thinking.. "well, why are they sending this to me.. do they know about my airbnb income"?!

    You can be fairly strict with the max amount of people allowed to stay in the house and clearly list any rules you want adhered to. You can disable "Instant Book" in order to learn about who is requesting to book the house .. I haven't rented out my gaff on airbnb but if I were to do it, I'd probably want to be on hand to keep an eye on it so that it wasn't turned into a party venue - at least have external security cameras, possibly a Nest doorbell. Depending on your neighbours it can work out beneficial to let them know you'll be renting out your house.


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    #6
    dennyk
    Registered Users Posts: 1,666 ✭✭✭dennyk


    antix80 wrote: »
    I'd say revenue are most likely to send you a letter in the post asking you to do a tax return online.

    Note that if your total non-PAYE income (including net short-term rental income) is less than €5000, you don't need to file a full Form 11 tax return; you can just report it on your "Non-PAYE Income" section in myAccount. If you have more than €5k in non-PAYE income, though, you'll have to register for self-assessment and file the whole big form.


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    #7
    antix80
    Registered Users Posts: 2,419 ✭✭✭antix80


    dennyk wrote: »
    Note that if your total non-PAYE income (including net short-term rental income) is less than €5000, you don't need to file a full Form 11 tax return; you can just report it on your "Non-PAYE Income" section in myAccount. If you have more than €5k in non-PAYE income, though, you'll have to register for self-assessment and file the whole big form.

    I may be wrong but I think there are times revenue can request that you complete a form 11. I'm thinking of someone in particular I know who was making a small amount of extra income in addition to his paye income, then received the letter from revenue. He ended up disclosing a couple of thousand because he assumed revenue knew he had an extra source of income.


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