Revenue are now enforcing a rule whereby foreign landlords must either instruct their tenants to withhold a portion of rent which will be paid to Revenue, or alternatively the property owner must hire a rent collection agent<\/a>.<\/p>\n While this development may be unwelcome for many overseas landlords, help is on hand…<\/p>\n Here we take a closer look at rent collection agents and how non-resident landlords can manage their property tax obligations in Ireland.<\/p>\n\n A rent collection agent is an Irish resident who manages the collection of rent payments.<\/p>\n If you are a non-resident landlord you can choose to appoint an Irish Rent Collection Agent \u2013 such as Rentax<\/a>\u00a0by Taxback<\/strong>\u00a0\u2013 to manage your tax responsibilities. Rentax will even submit your income tax return for the rental income on your behalf.<\/p>\n When a nonresident landlord signs up for one of our services, we will be issued with a separate PPS number on behalf of that landlord. If required, we will manage the collection of rent, prepare and file the tax return. Rentax can make an agreement with the landlord to retain a portion of the rent to cover the annual tax liability and preliminary tax due for the following year.<\/p>\n Get in Touch with a Rent Collection Agent<\/a><\/p>\n <\/p>\n For non-resident landlords, there are two choices. Either, your tenants deduct the standard 20% income tax from their monthly rent and pay it to Revenue on your behalf or else you can use a rent collection agent.<\/p>\n Should you choose the first option, once the tenancy has been agreed upon, you or your tenant must contact Revenue to make arrangements for where your income tax is payable.<\/p>\n The tenants must fill out a Form R185 at the end of each year to show how much was withheld for tax payments that year, and send this to you for your records.<\/p>\n This practice puts an onus on your tenants to ensure they are calculating the tax correctly.<\/p>\n Of course, this leaves room for human error to occur! It is also a responsibility that the tenant would not have if they were renting from an Irish resident.<\/p>\n To put it simply, rent collection agents make life easier for landlords living overseas. You won’t have to worry about guaranteeing your own tax compliance as we will do the work for you.<\/p>\n Now that Revenue are cracking down on overseas landlords, rent collection agents are the safest and easiest option to choose for you and your finances.<\/p>\n Get in Touch with a Rent Collection Agent<\/a><\/p>\n <\/p>\n Rentax<\/strong> are here to provide rent collection services in Ireland<\/a> to non-resident landlords and property investors in Ireland.<\/p>\n By using Rentax you will save time and stress, leaving room for the important things in life. Rentax will take care of the below to ensure you are 100% Revenue compliant:<\/p>\nWhat is a rent collection agent?<\/h2>\n
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<\/p>\nHow does it work?<\/h2>\n
Other services include:<\/h3>\n
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What happens if you don’t use a rent collection agent?<\/h2>\n
Why do overseas landlords need a rent collection agent?<\/h2>\n
What can Rentax do for you?<\/h2>\n
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