Not sure If i am in the right subforum, anyone have any experiences renting a room/house/apt on airbnb? here in Ireland.
Not in Ireland but my experiences overseas have been very good. For holidays one aspect I should have paid more attention to in hindsight is the space for “cooking/dining/hanging around for the evening while dining in” as otherwise with a family much of the savings goes on dining out. Also in hot locations air conditioning is useful if you want to dine in at least some of the time.
If the host has a few good reviews then it should be ok but if it’s a new offering then send them as many questions as possible. If they’re clear, concise and prompt in replying then chances are they’re genuine. If you have any doubt then I’d say walk away.
It’s become so common now in the US that I’ve seen hotels posing as private owners to fill rooms below their advertised rate.
Oh the irony.
I’ve used it in Germany and America. Rooms were always clean and comfortable.
A friend rents out 2 rooms in her house and hasn’t had any trouble so far.
A lot of smart alecs told themselves they were grand 'cos of the Rent a Room scheme…
They’re only reporting 2014 rentals, so people still have time to include that in their 2014 return. Hopefully this will encourage people to report their income correctly.
I don’t know why, but even before Revenue’s eBrief on the subject I had always believed that Rent a Room was meant for long-term rentals (i.e. not nightly rentals) - if this wasn’t the case then B&Bs and the likes could have operated tax-free if they stayed within the (albeit low) limits.
income, and the CGT exemption out the window too,
Only pro-rata though, surely?
This would presumably be an audit flag also though if people don’t report the income.
So did I. It was clearly introduced at a time of tight supply in the normal/studenty rental market, not to boost the tourism industry
Others thought that they could let out a whole 3 bed house but “keep a room” thereby utilising the scheme provided the combined rent was less than 12k…
I know of some “professionals” who should know better doing this
yep. pro rata.
[The Gain is in on a straight line measure; rent out any time in a calendar year then it’s included]
The CGT exemption is based on periods of occupation - it isn’t a clear cut case of 1) you occupied the house for your entire ownership and didn’t rent it or 2) you occupied the house for some of the time/never occupied it and rented it. It’s based on the proportion of time you occupied or were deemed to have occupied the house during your period of ownership.
Not 100% sure what the rule would be here as you are technically still occupying the house, but renting a portion of it out. I would hazard a guess and say that it doesn’t affect your CGT exemption - just as renting out a room that qualified for Rent a Room doesn’t affect your claim to the CGT exemption.
Worst case scenario, I would imagine, is that the few days you had tenants would be deemed periods of non-occupation. In any case it is self-assessment - people will just give themselves the full exemption regardless, realistically speaking.
I believe it would. For example if you are self employed and you claim a portion of your mortgage as a home office [while still occupying the rest of the house] you lose your CGT exemption for that year.
My understanding is AirBnB is considered a rent-a-room operation by the revenue.
Obviously find out yourself if you intend doing it.
As per Revenue’s eBrief and recent reports, short-term room rentals, such as those through airbnb, are fully taxable and not covered by the rent a room exemption:
revenue.ie/en/practitioner/e … 12015.html
My point was just that I had always thought this type of room rental was fully taxable anyway, but seemingly it has come as a surprise to some renting out rooms in this manner.
Discussed now on Pat Kenny
He seems upset that Revenue are chasing people who have made a ‘small bit of cash from the sweat of their own brow’!!!
Conor Pope has tried a few times now to explain to him that this is ‘earned income’ and thus is subject to income tax
He’s also bemoaning the fact that the 12k rent-a-room is not applicable here. That was brought in to help ‘alleviate the suffering’ of those in mortgage difficulties…I could have sworn that was brought in back in the early noughties, long before there ever was a mortgage crisis
BnB’s are a classic cash in hand business. AirBnB provides a way for revenue to measure this income for the first time.
The outrage in itself says a lot about this country.