Private landlords warned to register

THE Association of Chartered Certified Accountants (ACCA) is advising private landlords who borrowed to buy their residential investment property that unless they register with the Private Residential Tenancy Board, they will not be allowed to offset interest on the mortgage against rental income.

ACCA president Gerard Loughnane said not registering could cost them up to €3,300 a year in additional tax liabilities.

He added that landlords must register each new residential letting from 1 January 2006 with the Tenancy Board or face the loss.