The law?

Finweek English Edition - - LIFESTYLE -

SUR­PRIS­INGLY, NOT ALL COUN­TRIES AL­LOW FOR­EIGN­ERS to earn rental in­come and some coun­tries set a limit on the amount of time in a year that you can let your prop­erty. Lo­cally, you also have to de­clare any in­come that you earned to the tax man. Find out which of the ser- vices you pay for are tax de­ductible and be sure to have your pa­per­work in or­der for claims. It’s worth tak­ing a very close look at the tax im­pli­ca­tions of your in­vest­ment be­fore tak­ing the leap.

Of course, be­ing a land­lord is not al­ways sun­shine and roses, so you might have to re­sort to le­gal ac­tion if your ten­ant r ef uses t o pay r e nt . Im­mel­man says le­gal dis­putes de­pend very much on the rental agree­ment drawn up by the agent.

“If the man­ag­ing agent is un­able to re­solve the dis­pute fur­ther le­gal ac­tion may be re­quired,” he says. Keep­ing a lit­tle rent in­come aside ev­ery month in case of a le­gal dis­pute might be a good idea.

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