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December 5, 2022
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Help determining date rental is considered placed in service

  • December 5, 2022
  • 1 reply
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I am trying to determine the date to use for when our rental was first placed in service. I first advertised the house for rent on April 04.15.22 by taking a flyer about our rental to the city managers office in the small town we live in. There is an extreme shortage of houses to rent here. and I read in the newspaper that several candidate for a new police chief position had dropped out because of this. We were in the process of completing a new home to rent out. Nothing happened because of the flyer. Due to health issues from a car accident we did not have the final inspections completed until July 13th. The date of "Residential Certificate of Occupancy" is dated effective 08.21.22.  We have a signed rental contract dated 07.15.22. I would appreciate any help in determining the right date to use for when the house was first placed in service.

Best answer by Anonymous_

It is generally the date you make the property available for rental use.

1 reply

Employee
December 5, 2022

It is generally the date you make the property available for rental use.

December 5, 2022

I am still a bit confused, would that be the date I took the flyer to city hall offering to rent it?  

Thanks for your help!

Carl11_2
Employee
December 5, 2022

Typically, it's the date you put the FOR RENT sign in the front yard, which is usually the day a renter "could" have moved in.