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Letting studio to a friend

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  • 06-05-2018 8:29pm
    #1
    Stern
    Registered Users Posts: 98 ✭✭


    We have a bungalow, with a detached studio out back with one room and an ensuite (shower and basin).

    I have a friend who I’d like to rent it to, but not sure if he can just give me the rent per month in cash and I declare it end of year, or whether we need to set up a proper RTB contract. It would be for short term, 3-5 months, with no notice period required (he’s waiting for his clearance to move to another country).

    We need to get the attic insulated, simple job I already have a quote for, and out in a fire blanket and carbon monoxide detector I guess. But anything else?


Comments

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    #2
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    As it's detached you need to set up with the RTB etc. Why not rent him a room in the house and save 50% on tax? You still need to declare for RAR but it's tax free up to 14K.


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    #3
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    Does it have its own kitchen?


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    #4
    3DataModem
    Registered Users Posts: 3,943 ✭✭✭3DataModem


    Three to five months? The way I’d look at it is that you are letting him stay in your home while he kicks in a few quid for groceries. Keep it informal.


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    #5
    Gumbo
    Moderators, Society & Culture Moderators Posts: 38,435 Mod ✭✭✭✭Gumbo


    Stern wrote: »
    We have a bungalow, with a detached studio out back with one room and an ensuite (shower and basin).

    I have a friend who I’d like to rent it to, but not sure if he can just give me the rent per month in cash and I declare it end of year, or whether we need to set up a proper RTB contract. It would be for short term, 3-5 months, with no notice period required (he’s waiting for his clearance to move to another country).

    We need to get the attic insulated, simple job I already have a quote for, and out in a fire blanket and carbon monoxide detector I guess. But anything else?

    Is the studio officially a place that someone can sleep? Have you got planning or is it a glorified garden shed?


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    #6
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,278 Mod ✭✭✭✭The_Conductor


    If anything ever goes awry in this 'arrangement' you're in for a world of hurt...........
    If you 'rent' him anything- he is entitled to rights.
    If he stays with you under the rent a room scheme- he does not have any such rights.
    If the unit is separate to the main house (not attached or accesible from inside)- it is a separate unit- and if you 'let' it to him- it has to legally comply with various requirements- the first of which is- you'll need to get a BER cert done- thereafter you have a full shopping list in the Amended RTA to comply with.

    If your friend stays either in your house- or in this studio- as a guest- who is not paying rent- for a defined period of time less than 6 months- you're in the clear. If they pay rent- and/or go over the 6 months- you're screwed.


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