I have a rental property. Same tenants in place for years. Undecided whether I will sell house in 2/3 years or keep it for the longer term.
A solid fuel stove with back boiler is the main form of heating in the house. The stove is now broken and not repairable. Is a replacement stove an allowable expense for tax purposes? Will cost circa €2.5K.
The chimney also needs repair - re lined, and the top it it needs to be knocked and rebuilt. Will cost circa €8K including scaffolding hire. Is this an allowable expense for tax purposes.
Thanks!
Not what you were asking but did you consider an alternative form of heating if investing that much in repairs? Though I appreciate the replacement of the stove is an immediate priority.
Not what you were asking but did you consider an alternative form of heating if investing that much in repairs? Though I appreciate the replacement of the stove is an immediate priority.
If you are considering selling in a couple of years, presumably this tenant will be moving out? While it is a good idea to keep good tenants on board, I would still satisfy myself that this is the best long term solution.