Can you rent your own investment property, and still deem it to be just that?ie can you act as your own tenant?
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Can you rent your own investment property, and still deem it to be just that?ie can you act as your own tenant?
Not if it's your only property, or if you have only a few rentals. Once you are in the business itself of rental properties and own quite a few, you can set it up this way with your rental properties in trust, and rent one of them at a market rental.
Regards
Graeme FowlerFacebook Property Chat Group NZ
https://www.facebook.com/groups/340682962758216/
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Thanks for yor response Graeme
What is the benefit of having your property/ies in trust? Currently we have a rental in an LAQC and a home in private ownership? Can the house be transferred to trust and what are the benefits? My questions come out of the desire to acquire another rental, and we are thinking maybe we should make that the home we live in.
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I took a call from a man the other day who had put his properties into an LAQC and rented back from himself since 1999. He was paying market rates but the IRD were chasing him and, I gather, winning. Unfortunately I don't know how things turned out.
2 things
if it sounds too good to be true, it probably is
if it was that easy, wouldn't everyone be doing it?
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