Hi,
I've got a strange issue. We have a second property that we rent to a family member at a discounted rate. The house is located in Dublin so is in a rent pressure zone. He will be there for another year or two. My question is, when registering with the RTB, should we put in the undiscounted rent of say €2000 per month or what he is actually paying at €1500 per month? For revenue we have put in the €1500 per month and this is what we are paying tax on. So few queries below:
When he leaves, I would like to rent it out again at €2000 per month. But unless we up the rent in the registration now we will be stuck at 2% increase per annum. Is this correct?
Can you change the RTB registration by more than 2% between years? Is this checked? i.e. this year €1500 p/m and next year it would be €2000 p/m.
Will the RTB share our rent with Revenue identifying a discrepancy? i.e. if we put the RTB in at €2000 p/m but the Revenue does not match at €1500 p/m.
I'm welcome to any advice that you may have.
Thanks a mill
I've got a strange issue. We have a second property that we rent to a family member at a discounted rate. The house is located in Dublin so is in a rent pressure zone. He will be there for another year or two. My question is, when registering with the RTB, should we put in the undiscounted rent of say €2000 per month or what he is actually paying at €1500 per month? For revenue we have put in the €1500 per month and this is what we are paying tax on. So few queries below:
When he leaves, I would like to rent it out again at €2000 per month. But unless we up the rent in the registration now we will be stuck at 2% increase per annum. Is this correct?
Can you change the RTB registration by more than 2% between years? Is this checked? i.e. this year €1500 p/m and next year it would be €2000 p/m.
Will the RTB share our rent with Revenue identifying a discrepancy? i.e. if we put the RTB in at €2000 p/m but the Revenue does not match at €1500 p/m.
I'm welcome to any advice that you may have.
Thanks a mill