Hi
I am changing my current property from owner occupied to investment based but want to carry out a bath room renovation before is it leased to tenants, there are several other maintenance activities I would like to carry out before it is leased, but am unsure if this is claimable.
The details documented in various guides state the property has to be "genuinely available for rent" before items such as renovations are claimable.
But in my case I'm looking to carry out this work after the change to investment from a mortgage perspective and after I have moved into my new property but before I accept tenants so that I can take advantage of the empty property.
How do I go about this, it seems a Chicken and Egg situation to have the property advertised as rentable , yet in a position where renovation and maintenance work is required in advance so can't be declared as rentable formally yet.
I will be talking to agents in the near future about leasing after I have moved out, but am stuck of tax implications for any renovations/maintenance before this is leased.
Is this detailed in examples or pages that I haven't seen or any other input that people can offer to help me understand what can and cannot be done?
Thanks
M
2,722 views
1 replies