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  1. Scott No Mates

    6 months rent payment up front - in which tax year is it deemed as income?

    The agent or owner can accept any amount as rent in advance however the agent can't ask for more than 2 weeks. The other issue yet to be raised is what if the tenant wants to break the lease & the owner has spent the rent money?
  2. Scott No Mates

    6 months rent payment up front - in which tax year is it deemed as income?

    You're up for it. If they were able to get a deduction for the rent paid, they'd be claiming it this year too. If you can, prepay your interest for the year so it won't hit you as hard. PS: will they be running a meth lab from the place?
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