Air B&B

society4

thinking of letting my ppr for 1 month whilst I’m on holiday…..anyone done it and have any advice…is it more hassle than it’s worth …is it worth taking out extra house insurance …..do you have to do a tax self assessment on the income…..thanks

dennyk

Honestly for just a month it might not be worth it. You will have to pay tax on the income at your marginal rate whether it's enough to put you over the threshold for self-assessment or not, so if you are already on more than €42k that's about half your net profit gone right there. You'll also have to hire someone to turn the place over between guests, meet your guests, and handle any issues that come up, since you'll be out of the country, so that will cut into your profits a fair bit. Then there's all the time involved in setting up the AirBnB listing (which also has its own fees) and filing all the paperwork to register your property with the council for the planning permission exemption (and possibly registering with Fáilte Ireland as well, if that system has been brought in by the time you're doing this). Unless your place is in an area where there's a lot of demand for your type of property and you can charge a premium, you might not be making much in the end, and there's always a risk of getting a bad guest who will leave the place a wreck or annoy your neighbours with some big noisy party.

society4

thanks ..I will have to pay 48% tax and usc etc but I thought if the rental is under 90 days you are exempt from having to register it with bord failte/seek planning permission for change of use ….also my house is newly renovated and ina prime location ….also I was planning on having a key box and choosing a family …also sending in a cleaner before and after….i know there is a risk of damage so I was planning on upping the insurance.. ….just can’t see too many pitfalls but cud be wrong. !!

You are handing your home over to unknowns for a month whilst you are away, while I’m a big advocate for Airbnb, that isn’t something I would do. It isn’t worth the risk.

Xander10

https://www.boards.ie/discussion/2058356100/air-b-b

Not an option this time for you, but I know a few people who do monthly swaps and get to go to some nice places. On a mutual swap I'd imagine you have less issues with the place being cared for properly

society4

https://www.boards.ie/discussion/comment/122265575#Comment_122265575

yes that in option I could look in….thanks

dennyk

I thought if the rental is under 90 days you are exempt from having to register it with bord failte/seek planning permission for change of use

If it's under 90 days a year, you don't need planning permission, but if it's in an RPZ you would still need to register your exemption with your local council by filing forms at the start and end of the year. The forms can be filled out online if you're in Dublin, but other councils have different processes.

The Fáilte Ireland registration, once it is introduced, will apply to all properties which are involved in short-term lets regardless of how many days per year the property or rooms are being let.

society4

https://www.boards.ie/discussion/comment/122266251#Comment_122266251

what will the failte Ireland reg entail…..

society4

https://www.boards.ie/discussion/comment/122266251#Comment_122266251

I’m a bit confused…..if your rental is over 21 days I.e 30 days ….will I still need to register with failte Ireland when the leg comes in, is this to discourage shorter stays….can you do 2 x 14 days with a gap in between?

dennyk

If you're doing a single rental for 30 days, you wouldn't have to register for either, as that wouldn't be a short-term rental by their definitions (14 days or less at a time for planning purposes and 21 days or less for Fáilte Ireland). The tricky bit might be finding someone who actually wants to rent your place for a full month but only a month.

It could be a bit risky, as well, because a good chunk of your potential market for that kind of rental would be folks just moving here or getting booted from their current long-term accommodation, rather than tourists who are definitely just here for a temporary visit. When they find out that a month actually isn't long enough to find affordable long-term accommodation, there's a risk they might not leave at the end of their booked stay, and getting them out could become a huge hassle if they decide to claim they've a tenancy rather than a license agreement.

society4

ab

C3PO

I wouldn’t consider renting my home for a month unless the Ryder Cup was over my back wall and I was getting €20k rent! The potential downsides are just too high when compared to the upside.

society4

https://www.boards.ie/discussion/comment/122271378#Comment_122271378

well the rents in my area are in that bracket so it cud be worth considering …with vetting of the guests/extra insurance etc

herbalplants

https://www.boards.ie/discussion/comment/122271539#Comment_122271539

You must be in Dublin 4

shimadzu

Worth keeping in mind that those who generally rent a whole house on AirBnB are families or those looking for cheap accommodation for 20 people at a hen/stag party or end of exams party. You not being there means that you will not be able to vet the people properly outside of what they have put in their AirBnB profiles. There are a few houses in our vicinity that are had the same issue every couple of weeks they would be destroyed from parties they have since installed a device that monitors sound levels and the number of unique wifi/bluetooth devices present so they can get their agent to inspect it before things get out of hand. I think you find that any affordable insurance will not cover damage caused by guests.

SharkMX

https://www.boards.ie/discussion/comment/122273087#Comment_122273087

I have a friend who does airbnb (well its a mix of similar sites he uses. Dont think he does much with airbnb anymore) and he was telling me that he can see all of the previous reviews that the guests got before accepting them. He then only lets to couples, or couples with one or two kids, who got top reviews and who dont give bad reviews themselves. He never lets to people with only a few reviews or to groups or anyone who even got one bad review from a host.

ballyharpat

I do Airbnb in a room in my house, it's a great earner.

I used to go away and rent the whole house, and I would not have auto book on, so I can see them and chat before they book and see that they have a few ratings already, it is not an anonymous booking, their passport and credit card are with Airbnb, Airbnb do good insurance already, I would not bother saying it to mortgage broker, I would set up with my insurance company, only a few quid extra as it's the same as having a lodger etc there. They would go easier on you than if you were leaving the place vacant for 30 days- so that voids that excuse put forward by many.

You pay tax on it, but you can also claim expenses,cleaners, if you buy bedding or food or electric etc, all of these arte write-offs-down to detergents etc.

If it's a 3 bed, you can lock off your own room and rent it as a 2 bed, In my experience, it was a great way to supplement my income, mede 18k on it over 3 years. that's a pretty penny.

society4

https://www.boards.ie/discussion/comment/122275012#Comment_122275012

Thanks for your info….i think it’s a no brainer when you can vet them beforehand …couples.families less likely to trash the place ….is it a form 11 you use to pay the tax ?

ballyharpat

https://www.boards.ie/discussion/comment/122276158#Comment_122276158

I send it to my accountant, he takes care of it, I'm pretty sure it's easy to pay the tax and take the expenses etc. Airbnb send you your tax documents at the end of the tax year, so you just have to top up your expenses and subtract them.