Rent reduction against works: everything you need to know
Are you a property owner looking to lease your property under optimal conditions? Rent reduction against works can be an effective solution to attract tenants and maximize your profitability. In this article, we explain everything you need to know about this scheme and how to make the most of it.
What is rent reduction against works?
Rent reduction against works is a legal scheme that allows property owners to decrease the rental amount in exchange of certain work carried out in the accommodation. These improvements can be aesthetic, technical, or energy-related and must be justified by prior cost estimates.
Why opt for rent reduction against works?
By opting for rent reduction in return for work, you benefit from several benefits. Firstly, it allows you to enhance the value of your real estate by renovating it, increasing its attractiveness to potential tenants.
Secondly, the rent reduction enables you to stand out in the rental market and position yourself as a serious and tenant-focused of the well-being of ita tenants. This will allow you to more easily attract the right tenants profiles and retain them over the long-term .
Finally, rent reduction against works can represent a non-negligible saving for property owners. A portion of the renovation costs may be tax-deductible, reducing your overall tax liability.
How to make the most of it?
To make the most of rent reduction against works, it’s recommended to enlist the services of a real estate broker specializing in property management. He can guide you through the entire process, from the definition of the work to be carried out to the implementation of the rental contract.
Lastly, the real estate broker can advise you on the tax reduction schemes to which you could claim as an owner, depending on the work carried out.
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