Pre letting expenses & residential landlords – Budget 2018

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To encourage residential property owners to offer vacant properties for rent, Budget 2018 introduces a new allowable deduction for pre-letting expenses.

If the residential property has been vacant for 12 months or more, the owner can claim up to €5000 in pre-letting expenses per property.  The expenditure must be revenue in nature – for example, repairs and maintenance.

If the property is withdrawn from the rental market within 4 years, the relief will be subject to clawback.

This relief is available for qualifying expenditure incurred to the end of 2021.