Owner struggling to find advice on the best way to manage the property and the issues associated with letting it out
Letting out property always sounds like an attractive idea, but it generally proves to be more complicated than people expect. Photograph: iStock
It is one thing for people who actively go out to buy an investment property but in many cases, the opportunity arises because a person inherits a family home or a holiday home.during the year for holiday visits that usually extend to one to two weeks, sometimes a bit more. That length of stay is important.
In addition, new rules are on the way that will require you to register your property with Fáilte Ireland or face financial penalties. I’m not sure where you advertise the property that you let out but the platforms will be subject to even heavier fines for advertising properties not registered with Fáilte Ireland so they will inevitably be sticklers for following the rules.
The other thing you may wish to consider, depending on how comfortable you are with such things, is hiring an accountant to manage your tax obligations on any rental income — and ensure you qualify for any relevant reliefs and claim any allowable deductions.
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