renting my house out, what are my options as a landlord.

P

paddynaas

Registered User
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Folks

I had posted on a group somewhere else but am now confused by the answers.

I have a query and would like some clarity on it, before I speak to my accountant and a financial planner.

I have a 3bedroom house. It was rented for years on HAP, well below market value. I ended that about 3 years ago, and have been living in it as my primary residence and renting 2 rooms out to 2 others, their rental income is below the 14k.

I am at a stage now where I am going to move in with my ms, into her house, so I am wondering what my options are?

Option A. I can rent the house out as a whole at the current market value, either through HAP or not, but it will be registered with the RTB then. I will do my yearly returns as per normal through my accountant

Option B. I can rent out the 3 rooms to 3 individuals, perhaps the 2 lads living there and 1 other. They all have separate contracts per room, is that right? Does this need to be registered with the RTB? I will do my yearly returns as normal, through my accountant.

I can in either option increase the rent by 2% per annum, and expenses and incomes go to taxes?

Are they my only 2 options or am I missing anything.

Many thanks folks

Paddy
 
I am interested in the answer to this too, Paddy. From my limited understanding, though, I think you can also rent it as a holiday let (if not in an RPZ), but it then has to be hands-on managed. If you let it to students, I assume the same RTB rules apply as if a normal tenancy.
 
Option C might be the best - selling it.

You should not rule it out. You should review it.

Key Post - A systematic approach to deciding whether to keep your home as an investment after trading up

This has been covered before a few times, most notably in this Key Post, by Sarenco. This post updates it and tries to put a systematic framework on the issue. If you decide to keep your home as an investment, it is a decision which you should review every few years to see if it's still...
www.askaboutmoney.com
 
Tadamia and Brendan

Thanks for the replies. I will keep looking and if I get an answer Tadamia, I will PM you, thanks
 
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