Is 40$ below market rate still fair price ($1535 instead of $1575)? One room of apartment is rented. I live in other all year. how to count days fair rented vs personal?

Forum|Forum|4 years ago
April 14, 2022
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PatriciaV

Employee

Yes, you are charging a fair price. The market rate is an average. As long as you attempt to charge a fair rent, you meet the requirement.

If you occupied the space that was held out for rent, you would report those as personal days. But if you never actually lived in that space, your personal days would be zero (and be sure to enter that number).

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vandita5Author

Thank you Patricia. To clarify the personal use days. If I owned the place for 350 days- it was empty for first 30 days and then I lived in it for 320 days. Then I've had different tenants for 245 days. Do these numbers sound right - personal use days 320, fair rented days 245? Thanks!