Hi, if I rented out my property and the rental income didn't cover my mortgage payments would I have to pay tax on the rental income?
tax on rental income to pay mortgage.
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Originally posted by rosiem View PostHi, if I rented out my property and the rental income didn't cover my mortgage payments would I have to pay tax on the rental income?'Pause you who read this, and think for a moment of the long chain of iron or gold, of thorns or flowers, that would never have bound you, but for the formation fo the first link on one memorable day'. Charles Dickens, Great Expectations
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would I have to pay tax on the rental income?
Cheers!
LodgerI am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...
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In that case they probably need to use the breach of lease ground under section 8 and hope the judge understands the tenant is trying to subvert section 21.
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Channel: Residential Letting Questions
08-12-2019, 13:06 PM -
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by SonnysadeHi All,
I am a Private Landlord, I have a couple in my Property.
The Rent is being paid by the Local Authority and it is up to date.
This couple have been in the property for 3 years, I have had the last 2 years Certificates also with great difficulty.
The...-
Channel: Residential Letting Questions
07-12-2019, 16:17 PM -
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Reply to feedback for arrears situationby InterlakenDo not rent to relatives! How many times do we say this on here?!
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Channel: Residential Letting Questions
08-12-2019, 12:52 PM -
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by MardanisHi,
My motivation initially was not based on financial gain but to have the house in a livable state and not left to deteriorate while my employment takes me overseas, covering the mortgage while helping someone out after their unfair eviction.
Circumstance
- tenant...-
Channel: Residential Letting Questions
08-12-2019, 07:08 AM -
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Reply to Deposit and withholding keysby JK0You need to get them to sign receipt 'in full & final settlement of any claims, now or in the future'.
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Channel: Residential Letting Questions
08-12-2019, 12:29 PM -
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I’ve been a bit naive. I had a short hold tenancy agreement with tenants signed 18 months ago for a year. They have just moved out. I only recently obtained a small portion of the deposit (initially was asked if I could give them a bit of a grace period to get depot together). They promised to pay...
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Channel: Residential Letting Questions
06-12-2019, 22:46 PM -
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Reply to feedback for arrears situationby AndrewDodSo do you still think their original eviction (paragraph 1 of OP) was likely "unfair"? Or is "unfairness" only when it affects you personally, your lives, children and welfare? Did you speak to their previous landlord to see what impact it had on their life and welfare and health,...
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Channel: Residential Letting Questions
08-12-2019, 11:55 AM -
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by jpkeatesYes.
The agent was the landlord's agent, was acting on their behalf and their actions or inactions are the landlord's actions or inactions.
The landlord needs to be more than supportive, they need to "return" the overpaid deposit and protect the rest that they have "received"....-
Channel: Residential Letting Questions
08-12-2019, 10:47 AM -
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by jimjom123Hello
I moved into my new flat a few months ago. Upon moving in the letting agent (LA) asked us to pay a deposit equivalent to 6 weeks of rent. Not being aware of the tenant fees act 2019 that limits the deposit amount to = five weeks deposit, I happily obliged. A week or so later the LA...-
Channel: Residential Letting Questions
07-12-2019, 12:46 PM -
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Reply to feedback for arrears situationby jpkeatesa - No.
b - No.
c - No.
d - When the tenancy is properly ended, you have to make reasonable efforts to contact the tenant to allow them to collect their possessions.
e - Either use notice under s8 and get a judgement which will include the arrears that you can try to enforce....-
Channel: Residential Letting Questions
08-12-2019, 10:39 AM -
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