Homeowners with a spare room are being asked to considered renting it out to a college student.
The rent-a-room scheme means a householder can earn up to €14,000 a year tax free by letting out a spare room. The Higher Education Minister says families living in social housing, and social welfare recipients, can also benefit from the rent-a-room scheme.Minister Simon Harris said State funded student accommodation is being built for the first time ever, with projects underway in Dublin City University, University of Limerick, University of Galway and Maynooth University.
"We're funding the building of lots more student accommodation right across our country. But I do want to make students, parents and homeowners aware of the Rent a Room Scheme. "This is a scheme where you can rent out a spare room in your house, and you don't have to pay tax on the rental income, up to €14,000.The Department of Higher Education is currently working on guidelines for homeowners and students to consider before engaging in the rent-a-room scheme.