Rental
- Rental or sublease contract1.500 kr.
If you rent out property to your family there are certain rules that must be addressed.
The most common situation is when parents buy an apartment for their children to live in during their studies or when adult children find a suitable home for their elderly parents.
Fist of all you are obliged to charge the market rent – also from your children and even if they may not afford this. However, you are only taxed of the market rent. You may accept part payment from your children and see the rest as a gift. But you are taxed of the entire market rent.
The market rent is however an unclear thing. In older buildings the legal market rent may in fact be a lot less than the rent visible in the market. For this reason it may be worth while to require professional assistance when deciding the rent on your family property.
We can off course also help you with the tax implications from the rental income, deductions, reporting and consequence on the property taxes.
Please feel free to contact us for help with your rental