I'm living alone in my own 2 bed townhouse in Sandymount which I've owned for last 26 years. I only ever had a tenant in the first couple of years after I bought it. Unfortunately I'm now in the position where I feel I need to supplement my low earnings. The house is in excellent condition. I've recently transferred from Jobseekers Allowance to Back to Work Enterprise Scheme and am trying to get a sole trader business up and running.
I would appreciate any advice re taking in a tenant on a house share arrangement or Airbnb.
Under the BTWES I will not have to pay tax on earnings for the next two years as I will definitely not earn enough even if income from tenant or Airbnb is taken into account.
If I go the house share/tenant option then would it be better to have an informal agreement or a formal landlord/tenant contract?
Any other advice regarding pitfalls and how to avoid them would be great.
Julius
I would appreciate any advice re taking in a tenant on a house share arrangement or Airbnb.
Under the BTWES I will not have to pay tax on earnings for the next two years as I will definitely not earn enough even if income from tenant or Airbnb is taken into account.
If I go the house share/tenant option then would it be better to have an informal agreement or a formal landlord/tenant contract?
Any other advice regarding pitfalls and how to avoid them would be great.
Julius