With effect from 1 September 2004 all private tenancies must be registered with the Private Residential Tenancies Board (PRTB). Registration lasts the length of the tenancy but is subject to a maximum duration of four years. When a tenancy has been in existence for four years it must then be re-registered with the PRTB.
The cost of registration is €90 per tenancy provided the completed application to register is received by the PRTB within one month from the tenancy commencement date. A late fee of €180 applies where an application to register a tenancy is received more than one month from the tenancy commencement date.
Registration costs are fully deductible against rental income for tax purposes.
Where an individual is claiming a deduction for mortgage interest against rental income the property must be registered with the PRTB or the mortgage interest will be disallowed. In this regard Revenue are cross checking the addresses included on tax returns against the published PTRB register and where the property is not on the register they are disallowing the mortgage interest.
The following dwellings are exempt from registration with the PRTB:
- Business premises, even where partly residential (to which section 13(1)(a) of the Landlord and Tenant (Amendment) Act 1980 could apply).
- A dwelling to which Part II of the Housing (Private Rented Dwellings) Act 1982 applies (i.e. formerly rent controlled dwelling occupied by the “original tenant” or his/her spouse) or to which Part II of the Landlord and Tenant (Amendment) Act 1980 applies (i.e. long occupation equity lease tenancies)
- A dwelling let by or to a public authority or voluntary housing body
- A dwelling occupied under a shared ownership lease
- A holiday let
- A dwelling in which the landlord is also resident
- A dwelling in which the spouse, parent or child of the landlord is resident and there is no written lease or tenancy agreement
- A dwelling that is occupied rent free