Landlords who charge rents below market values may be exempt from IRS and IRC, according to the new tax regime for affordable renting that came into force on Tuesday. This measure aims to incentivize owners to practice more affordable rents for tenants.
The new legislation applies to landlords who choose to rent their properties at values below those practiced in the market. The tax exemption functions as a financial incentive to promote access to housing.
The tax regime for affordable renting came into force this week, establishing a set of rules for those who wish to adhere to this type of renting modality. This is a government initiative to boost the rental market and make housing more accessible.
