Hi atm i rent out a room from my brother. He stays in the same flat. However very shortly he is moving to another city buying a house with his gf.
This means there will be a spare room in the flat. My bro has said he is going to increase the rent because i will have the whole flat to myself. I asked him if it was ok if i get someone else in the flat so we could split the rent. He said ok.
Is it ok for me to just rent the room out and declare a price for it? (i.e. charge the room-mate a higher price e.g. because they have bigger room etc)
This is pretty low though yeah? It should be split 50/50 you reckon?
Do i need to declare anything to the tax office? given that im not the actual landlord (so my brother needs to do this then i guess as he owns the property?)
If my brother realizes that he has to pay tax on the rent i pay him then might he not decide to increase the rent further?
anything else i should be aware of?
btw - anyone looking for a room in Aberdeen? 5 mins from pub 5 mins from Uni
(ultra low rent )
This means there will be a spare room in the flat. My bro has said he is going to increase the rent because i will have the whole flat to myself. I asked him if it was ok if i get someone else in the flat so we could split the rent. He said ok.
Is it ok for me to just rent the room out and declare a price for it? (i.e. charge the room-mate a higher price e.g. because they have bigger room etc)
This is pretty low though yeah? It should be split 50/50 you reckon?
Do i need to declare anything to the tax office? given that im not the actual landlord (so my brother needs to do this then i guess as he owns the property?)
If my brother realizes that he has to pay tax on the rent i pay him then might he not decide to increase the rent further?
anything else i should be aware of?
btw - anyone looking for a room in Aberdeen? 5 mins from pub 5 mins from Uni
(ultra low rent )
) So no need to declare it?