Hi,
I am planning to rent out my unit to one of my relatives (without a Property manager) and wanting to find out if someone out there has done this before.
The goal is to claim the negative gearing benefit while renting to someone you can trust.
These questions stuck in my head and hope someone can clarify them.
1. Can the rental price be set at an agreed price or it has to be market value?
2. Should a bond be lodged?
3. What documents are required by the end of financial year to support negative gearing benefit/claim?
Regards,
HL
I am planning to rent out my unit to one of my relatives (without a Property manager) and wanting to find out if someone out there has done this before.
The goal is to claim the negative gearing benefit while renting to someone you can trust.
These questions stuck in my head and hope someone can clarify them.
1. Can the rental price be set at an agreed price or it has to be market value?
2. Should a bond be lodged?
3. What documents are required by the end of financial year to support negative gearing benefit/claim?
Regards,
HL