Offer them a month's rent as a rebate if they facilitate viewings. It's peanuts in the scheme of a house sale.Also is there anything i need to do in the meantime to avoid any issue on day they due to move out.
It's an awful situation as the rental market is so tight at the moment. This is a problem money can help to solve, and if they facilitate viewings you could also offer a month's rebate if they vacate promptly.I do have empathy them.
It's not so much a payment to the tenants as a refund of rent, thus reducing the income that would be declared.I would presume that the extra payments aren't tax deductible for the landlord and might be taxable income for the tenant?
If they are not obliged to facilitate viewings then, by facilitating them and getting money or cost rebates would I would think be income?It's not so much a payment to the tenants as a refund of rent, thus reducing the income that would be declared.
The tenants are not obliged to facilitate viewings and their explicit permission is required to enter the property, so this might be the best solution for all concerned, particularly where the tenants didn't chose to leave.
Exactly as they explain income today, and the same way you would complete your returns if the tenant didn't pay all rent due. You don't pay tax on the rent as stated in the contract, you pay tax on rent received. Whatever is stated in the contract doesn't come into it.From a landlord point of view the rent contract will stipulate what rent is to be paid , if they simply returned 11 months and reduced their taxable income without receipts how would the landlord explain this ?
Are the tenants not paying for the exclusive and private use of the property?This is essentially extortion by tenants and I thought extortion was illegal.
They aren't obliged to allow viewers in, I understand that , but getting effectively paid for this is income.Are the tenants not paying for the exclusive and private use of the property?
Can I visit your home today with my friends and have a look around, including your bedroom? or would that put you out in some way?
There is also of course the added insult that you're effectively being asked to put yourself out so that you can help the landlord replace you which you didn't want to happen in the first place. It's like being fired from your job but also asked to work unpaid overtime to help induct your replacement.
Who cares, just give them a discount on the months rent. I don't think revenue are going to have a team of 10 detectives on the case over a trivial amount. Why even think about that?They aren't obliged to allow viewers in, I understand that , but getting effectively paid for this is income.
Perhaps Revenue won't be concerned with a few cases, but if it becomes normal practice they might develop a different view.Who cares, just give them a discount on the months rent. I don't think revenue are going to have a team of 10 detectives on the case over a trivial amount. Why even think about that?
I agree it's probably just better if the landlord waits until they're gone, but if they're really in a hurry it's something to consider.
But they are not meant to pay tax on discounted revenue.And it's just example of correct taxation not being paid, people might what to shrug their shoulders and look the other way but I think people should pay the taxes that they are meant to pay.
Giving a discount so the tenants allow viewings, is essentially paying the tenants to allow the viewings. If there were no viewings there's no discount.But they are not meant to pay tax on discounted revenue.
You might not like the practice, but that doesn't mean it is a violation.
Paying tenants to facilitate viewings? I would have thought it would be other reasons both rational and irrational.This is why people hate landlords
explain to me so, a rental at €1,000 a month and the tenants only paid €500. What does the landlord pay tax on, rental income as per the contract or rental income received?Giving a discount so the tenants allow viewings, is essentially paying the tenants to allow the viewings. If there were no viewings there's no discount.
The discount is dependent on viewings being allowed and they happen.
If I buy something at a 50% I must carry out a simple contract with the seller, ie buy the product.
But none of those scenarios are paying the tenants for allowing the landlord to get people to view the property.explain to me so, a rental at €1,000 a month and the tenants only paid €500. What does the landlord pay tax on, rental income as per the contract or rental income received?
explain to me so, a rental at €2,000 a month and the landlord offers a 2% discount is the rent is paid on or before the 2nd day of each month (so, €1,960 paid or €2,000 paid). What does the landlord pay tax on, rental income as per the contract (€2,000) or rental income received €1,960)?
Well, it's a refund or deferral of money they have paid in rent, meaning the landlord is not obliged to pay tax on it. If a shop gives you a discount on a product, do you feel obliged to call up revenue seeking to pay income tax on that discount?Giving a discount so the tenants allow viewings, is essentially paying the tenants to allow the viewings. If there were no viewings there's no discount.
The discount is dependent on viewings being allowed and they happen.
That doesn't really make sense, if you're buying something the formation of a contract requires consideration, it's only formed when payment is handed over. But that's covered under the Sale & Supply of Goods legislation, not really anything to do with taxation.If I buy something at a 50% I must carry out a simple contract with the seller, ie buy the product.
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