Several persons listed as landlords on AST agreement?

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    Several persons listed as landlords on AST agreement?

    Hello,

    I have just been asked a question by an acquaintance and not knowing the answer I put it before the community's wisdom:
    Is it possible on a tenancy agreement (AST in this case) to have several persons listed as landlords? (e.g., if property is jointly-owned) Or should only one of the owners be the landlord? What would be the rental income's tax implications?

    Thanks.

    #2
    Originally posted by jjlandlord View Post
    Is it possible on a tenancy agreement (AST in this case) to have several persons listed as landlords? (e.g., if property is jointly-owned) Or should only one of the owners be the landlord? What would be the rental income's tax implications?
    On the contrary, if the property is jointly owned then all owners should be named as landlords.

    Income tax is payable by the owners of the property, not those named as landlords. (Tax can be apportioned to the different owners according to the relative proportions by which they own the property, which may or may not be in equal shares).

    Hope that answers your question but if not it may help to indicate what angle you're coming from on this.

    Comment


      #3
      Thanks Eric.
      Exactly what I was after: Basically it's a couple jointly owning a property which they wish to rent. So mostly the issue is whether it is possible/necessary to have them both as landlords.

      Comment


        #4
        Originally posted by jjlandlord View Post
        Thanks Eric.
        Exactly what I was after: Basically it's a couple jointly owning a property which they wish to rent. So mostly the issue is whether it is possible/necessary to have them both as landlords.
        I agree with Eric. My husband and I own jointly and have both our names on the contracts and each pay tax on half the rental income.

        It may of course be the case that only one, or neither LL, actually manages the property personally.
        '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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