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Ronan
Ronan, Solicitor
Category: Republic of Ireland Law
Satisfied Customers: 2214
Experience:  B. Corp Law, Ll.B. Dip Comm Prop. In general practice for more then 6 years
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My father has 2 properties that he rents out. These

Customer Question

Hi there,
My father has 2 properties that he rents out. These properties are fully paid for (no mortgage). As a widower he he taxed very heavily on the income from these properties. My father is advancing in age, he feels the money that these properties generate is not worth the hassle and work that comes with them, plus I think he wants to give me this responsibility as an opportunity. Moreover, whilst he wants to retain ownership of the property, he has asked me how I would feel about taking over management of the property. Essentially I would act as landlord - benefit from rental payments but he would also like that I would take over responsibility for tax payments, maintenance costs, tenancy recruitment & management, insurance, property tax payments etc. I know this would be straightforward if I were to inherit the properties but as I am thinking about moving abroad for work in a number of years, we are thinking about putting this arrangement in place for 3 years. He would like t
Submitted: 1 year ago.
Category: Republic of Ireland Law
Expert:  Ronan replied 1 year ago.

What's your query here? You seem to have a plan formulate, what's the specific aspects do you need advise on