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New boiler for letting property

  • 29-09-2021 4:54pm
    #1
    Registered Users Posts: 8,932 ✭✭✭ recode the site


    The hot water suddenly went on my letting property, so my agent sent a gas installer to investigate. The old boiler is completely defunct and needs replacement. Going to cost me €2300, spread over payments taken during the following months of rent by my agent.

    I look after my own tax affairs, and would assume this would by treated by Revenue as a repairs issue, and from my research this far I am fairly confident this would be the case rather than it being treated as a depreciating capital asset like, eg white goods.



Comments

  • Registered Users Posts: 2,867 ✭✭✭ Borzoi


    Technically the fitting is a repair, the boiler is an asset to be depreciated over 8 years or so.

    But personally, I'd just lump it all as a repair



  • Registered Users Posts: 8,932 ✭✭✭ recode the site




  • Registered Users Posts: 21,594 ✭✭✭✭ ted1


    I lumped it in as a repair.

    are you sure it’s just the boiler ? Might be worthwhile changing old rads.



  • Registered Users Posts: 8,932 ✭✭✭ recode the site


    It’s definitely the boiler, nothing right with it. They haven’t the heat on yet, but they have no hotel water.



  • Registered Users Posts: 9,924 ✭✭✭ DaCor


    If the property is pre-2006 you may qualify for a SEAI grant



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  • Registered Users Posts: 8,932 ✭✭✭ recode the site


    It’s not a pre 2006 build so definitely doesn’t qualify. It’s a well insulated property too.



  • Registered Users Posts: 21,594 ✭✭✭✭ ted1


    do rentals?. And to qualify you need to jump through hoops that Jack up the price. Better off just going for a basic swap. But as I said check the rads. Might be worth changing them too



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