residential/commercial investment

J

jim meehan

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i am considering buying an apartment in a residential complex however the unit is rented to a company with an existing lease for 4 years.i am an oap and would live there after the 4 years.are there any tax implications? thanks
 
Are the company renting for residential purposes or to run a business from the property ?
 
I don't believe that that there would be Tax implications for you. However, Rates would have to paid fully and as you'd be living there you might have to get full confirmation that all has been cleared.
 
sorry i did not make it clear ,the apt is divided into offices and no-one actually lives there.i am concerned that one of the other occupants might object.what are the implications of having a office in a residential complex?
 
As already stated, the main implications are the commercial rates on the property. If the property is been sold as an apartment then the agent selling this or the vendor would have to provide full clarity on the issue of residential living in the property.
 
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