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When a tenant makes an improvement to a rented residential property does it then belong to the owner?
Yes, it sure does. Any time a text makes any kind of home improvement that is irreversible, the home improvement becomes part of the property, which belongs to the landlord. The tenant may reverse such an improvement IF he can restore the property to the way it was - without any damages - before the home improvement was made.
What else can I help you with?
When a tenant makes a permanent improvement to a rented residential property should the tenant leave it when moving?
Yes. Since the tenant affixed the improvement to the property, it becomes a fixture, which belongs to the landlord. An exception to this is if there was an agreement between the landlord and tenant, or if the landlord gives permission for the improvement to be removed. Standard picture hooks, and other like objects, do not constitute fixtures, and may be removed if they belong to the tenant.
Are the contents of a house part of an estate when a person is deceased?
Generally yes. If the contents belonged to the decedent then they would be part of the estate. All the contents may not belong to the decedent if the property was rented to the decedent or rented by the decedent to someone else. If another person lived with the decedent some of the propery may belong to that companion.
What is difference between hotel and guest house?
A Guest house is part of a residential home(usually rented by the month), whereas a hotel is a rooming property designed to make nightly rental revenue.
What is tenanted areas?
Tenanted areas are spaces that are rented or leased out to tenants for residential or commercial use. The tenants pay rent to the landlord or property owner in exchange for the right to occupy and use the space. Maintenance and upkeep of the property are typically the responsibility of the landlord.
Can you do home improvement if you live in a rented flat?
Major home improvement on a rented flat is usually not permitted in the lease but the tenant can usually paint the walls and do some other minor home improvement projects. Check your lease or speak with your landlord to be sure beforemyou start on any home improvement projects.
Is a new floor a leasehold improvement?
Yes, it can be classified as a leasehold improvement as long as it was indeed done on rented premises, etc.
How does GST on commercial property rent differ from GST on residential property rent?
GST on commercial property rent and residential property rent differs mainly in terms of applicability and exemptions. For commercial property rent, GST is applicable at the rate of 18%. Commercial properties, such as offices, shops, and other business premises, are considered taxable supplies under GST. The landlord must charge GST on the rent, and the tenant can claim the input tax credit (ITC) for the GST paid, provided they are a GST-registered business. On the other hand, residential property rent is generally exempt from GST, provided the property is used for residential purposes. If a landlord rents out a residential property for accommodation, GST is not applicable. However, if the property is rented for business purposes (e.g., serviced apartments), GST may be applicable. The key difference is that commercial property rentals attract GST, while residential property rentals are typically exempt, unless used for business purposes.
Would a generator be considered a leasehold improvement?
A generator can be considered a leasehold improvement if it is installed in a rented space and enhances the functionality or value of the property. However, if the generator is movable or not permanently affixed to the property, it may be classified as personal property instead. The classification often depends on the terms of the lease agreement and how the generator is integrated into the property. Ultimately, consulting with a legal or accounting professional can provide clarity based on specific circumstances.
What part of speech is the word rented?
It can be a verb (in past tense), as in, "We rented a room last year." It can be used as an adjective as in, "It isn't our property; it is rented."
Where can one purchase insurance for rented property?
There are a number of companies one can purchase insurance for a rented property from. One can purchase from 'Allstate', 'American Modern' and 'State Farm'.
Damage to premises rented to you?
Damage to Premises Rented to You - formerly known as Fire Legal Liability Coverage - covers your liability to others if you occupy leased or rented property for which you could be held legally liable for damage to the property due to fire or explosion.
Can you leave a rented property to someone else?
No. Your only interest in the property is as a tenant. Your rights to occupy the property would die with you.
