Your property questions answered
Must I register as a landlord?
I own an investment property (an apartment) and I understand that to continue getting mortgage interest relief I now have to register as a landlord. I have not registered to date - not for tax reasons, I declare this income. Is there a date that I have to do this by? As I am tax compliant I don't see a great reason to register.
When it started, a carrot was tried to get landlords to register with the Private Residential Tenancies Board (PRTB) - principally a mechanism for dispute resolution between landlord and tenant - and it failed miserably. Even the threat of a substantial fine didn't motivate all landlords to sign up. Since 2004, landlords who fail to register may be fined up to €3,000 and face imprisonment for up to six months on conviction. A further penalty of €250 for each day of non-registration can be levied.
Given the poor rate of compliance, it's not entirely surprising that the Minister of Finance Brian Cowan has now figured out a way to make registration a more attractive option. A fine is one thing but losing mortgage interest relief is talking the language that investors really understand. The fact that you are tax compliant isn't relevant when it comes to registration. Some landlords are exempt from registration (consult www.oasis.gov.ie or telephone the PRTB at 01 8882960 to ascertain if you are exempt) but most landlords do have to register and while the Finance Bill which linked registration with mortgage interest relief was only last week, the date for registration has been backdated to January 1st.
The sort of details you will have to supply include your Personal Public Service Number (PPSN); the address of the dwelling; the names and PPS numbers of the tenant or tenants; a description of the dwelling including the number of bed spaces (for example, a two-reception, three-bedroom semi-detached house with five bed spaces); the date the tenancy started; the rent and how often it is payable; and the term of the lease if it is a fixed term lease. Contact: The Private Residential Tenancies Board, Canal House. Canal Road, Dublin 6.
I'm new to Dublin and need advice
As someone new to Dublin and interested in buying a new apartment I am having difficulty in getting the real low down on the development I'm interested in, stuff like what it's like to live there, are the other tenants noisy, what the neighbourhood is like, the real commute into the city, etc. Obviously the estate agent talks everything up so I can't really go with what she says, and if I was from Ireland I might know more people that I could ask. Any suggestions?
It can be difficult getting a handle on a neighbourhood. Presumably you have tried the obvious things, such as visiting the area at different times of the day and night, asked the agent what the ratio of investors to owner-occupiers is (the latter tend to make for a more stable environment); called in to the local Garda station to get an idea of the crime levels in the area, looked at the things that are important to you, ie, the local supermarket, schools, etc. If there is any vacant land around the apartment you could check with the local planning office to see if anything is earmarked for the site. And there's a very lively discussion forum on the excellent www.askaboutmoney.com website in the "Location Location Location" thread where emailers seek information about various developments.
Send your queries to Property Questions, The Irish Times, 10-16 D'Olier Street, Dublin 2 or e-mail propertyquestions@irish-times.ie.
Unfortunately, it is not possible to respond to all questions. The above is a representative sample of queries received. This column is a readers' service and is not intended to replace professional advice. No individual correspondence will be entered into.
