Renting rooms to students

Q

Queen15

Guest
Hi, this is my first posting on this site. Have been reading with interest for a while now and would be grateful if anyone could help me out!

I am considering renting out two rooms in my three bed house in Tallaght (digs for students). I am within a 10 minute walk of IT Tallaght. I never thought that I would have to do this and admit I’m pretty clueless.

Couple of Questions

What would be the weekly rent for digs? Sunday evening to Friday, for both a double room and also a single room.
I've been told the norm is that you charge for every week - even over Xmas holidays when students would have gone home? Is this true?
Would I have to register with the PRTB?
Would I need letting agreements, and is it possible to draft these myself or would I need to employ the services of a solicitor?
How does rent allowance work? Would I need to concern myself with this?

Thanks in advance to anyone who can answer even part of the above - I am only really getting my head around doing this now - hence all the questions.
Thanks
 
Not sure how much digs are but I imagine it'd depend on whether you were including food in price. The colleges have websites which indicate how much students should expect to pay.

I've also heard that people charge over holiday periods. I suppose it guarantees that the room will still be available. Otherwise students might have to move all their things out and hope you hadn't let the room to someone else while they were on holiday.

Depending on what you are charging, you may be able to avail of the 'Rent a Room Scheme'. This means that you can earn 7,600 per annum tax free. You do have to register with the Rev. for this scheme. If this is the case, then you don't have to register with the PRTB.

I don't think you need to concern yourself with rent allowance but there are other posts about this, so maybe you should do a search.

Hope this helps.
 
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