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News
Rent 2018: the expenses of repair and conservation to put the house for rent are deductible
 22

  APR

Rent 2018: the expenses of repair and conservation to put the house for rent are deductible

On many occasions, the landlord must repair and improve the condition of the home before putting it on rent. The Income Tax Law allows deducting in the Income 2018 a series of repair and conservation expenses, although the house has not yet been rented, according to the Tax Office. Of course, the deductibility of these expenses is conditional on the subsequent collection of rental income.

The expenses that any lessor can be deducted in the Rent 2018 are the following: the painting, the arrangement of facilities, the replacement of elements, such as heating installations, elevators, security doors or others. The amounts destined to the extension or improvement of the property are not included.

José María Salcedo, partner of the law firm Ático Jurídico, emphasizes that the maximum amount deductible for these repair and maintenance costs incurred in the property can not exceed the amount of the total income of the real estate capital obtained in the year for the rent of that living place. "The excess that could not be deducted may be compensated in the following four years," he adds.

The General Directorate of Taxes requires that these repair and maintenance costs incurred in the home be exclusively directed to the future obtaining of real estate capital returns and not to the enjoyment, albeit temporary, of the property by its owner. "We are facing a question of proof, which should be provided by the taxpayer in case it is required by the Tax Agency," Salcedo said.

In the case presented to Tributos, the expenses that were wanted to be made in the property prior to renting it were the replacement of air conditioning and boiler, stabbing of the floor and painting of the property.

The tax lawyer, in addition, argues that there are other deductible expenses, such as IBI, electricity and water, because they are costs that must be paid to make the house available for rent. If these expenses are not paid, the property could be seized or supplies cut. However, José María Salcedo stresses that "the Treasury could raise objections to the deduction of such expenses, not referring to, properly, the repair and conservation."

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