Do you register anywhere as a landlord b4 you rent

[Finners]

I've recently bought my first property, a new apt. I'm working abroad and will not be home for the next year or two. I hope to rent until I get home. I bought now because I was fearful of prices going up and not being able to afford to buy when I get home. My solicitor has told me that stamp duty will not be a problem. Will it become a problem for me if I rent and how would the stamp duty people know. Do I have to register with some government body before I rent.

 

[Ravima]

you must register the tenancy with the PRTB.

 

[dam099]

I've recently bought my first property, a new apt. I'm working abroad and will not be home for the next year or two. I hope to rent until I get home. I bought now because I was fearful of prices going up and not being able to afford to buy when I get home. My solicitor has told me that stamp duty will not be a problem. Will it become a problem for me if I rent and how would the stamp duty people know. Do I have to register with some government body before I rent.

Did you avail of a first time buyer or owner occupier rate of (or exemption from) stamp duty? If so you could be subject to the clawback provisions should you rent within 5 years. As to how the stamp duty people might find out there could be any number of ways. For a start I assume you will declare the rent and pay income tax on it, at present nobody really knows for sure if they cross check rents with stamp duty, the assumption is probably not but there is no guarantee. However there are quite a lot of people employed by the Revenue doing investigations e.g DIRT and now the life insurance policies, what happens when they are done? Something else may be the next target for example cross checking their files of rental income with the stamp duty files, at which time you will owe not only the original stamp duty but also intetest and penalties.