As the new college term draws closer, people are being asked to consider renting out a room to students. The rent-a-room scheme means a householder can earn up to 14 thousand euro a year tax free by letting out their spare room.
Projects are underway to build new student accommodation blocks at DCU, the University of Limerick, University of Galway and Maynooth University. However, Higher Education Minister Simon Harris, says rooms are needed for this academic year, and those who open up their homes will benefit.
"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 your spare room to a student; you don't have to pay tax on the income; social welfare entitlements are not affected; nor is the medical card," he added.
