Waterford News

Home owners in Waterford invited to rent a room to students

Home owners in Waterford invited to rent a room to students

College Fields external

Waterford Institute of Technology (WIT) is encouraging home owners in Waterford City to avail of the country’s rent a room scheme which allows people to rent a room in their home and earn €14,000 a year tax free.

“Waterford remains one of the most affordable places in the country for student accommodation, but we still have demand for digs, and also accommodation for one academic semester,” says Michael Murphy, President of WIT Students’ Union.

He says there is demand from different types of students seeking to rent a room: first year students, international students studying for a semester in Ireland and apprentices on block study at WIT.

“If you let a room in your home, the income you receive may be exempt from tax. The annual exemption limit for 2017 is €14,000. The relief can apply to lettings to students for an academic year or semester, including traditional ‘digs’ lettings,” he says.

People with a room to rent can sign up on homes.usi.ie. They are also are invited to get in touch with WIT Students’ Union with queries.

Celine Casey, Welfare Officer at WITSU says that the Students’ Union will then match home owners with students that fit the home owners criteria around duration of stay. Options vary from taking a student for an academic year or a semester. People can choose to rent a room Sunday night to Friday or take on a tenant for just one semester.

“While first year students generally rent a room Sunday night to Friday morning we also have international students staying for a semester and these students are more likely to be around at weekends. This may be a good option for families or individuals wishing to raise money in the run up to Christmas – or if they take on a student from January to May it is a great way to bring in money for a summer holiday,” she explains.

The next steps for anybody interested is to look at the rent-a-room-relief on the Revenue website and get in touch with WITSU by emailing This email address is being protected from spambots. You need JavaScript enabled to view it. or phoning Welfare Officer Celine Casey on 086-7854402.

People with a room to rent in Waterford can also sign up on homes.usi.ie.

 

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