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Dec, 2014

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  1. #1

    Question Rent discount due to repairs and disruption - how to record

    Hello
    Last November my property developed a damp problem. Now the repair of this took several days and a lot of disruption - kitchen could not be used etc. (The tenants were advised to move out by the damp proofer for the duration). Anyway to cut a long story short we negotiated a month's rent free plus 90% discount of another month in exchange for them repainting the repaired walls.

    The question is how do i account for these discounts. Are they allowable - if they are what do they come under. I am using ezpz landlord (similar to sage) for my accounts. Thanks for any help

    michelle

  2. #2
    Join Date
    Jul 2010
    Location
    Nottingham
    Posts
    903

    Default

    You didn't receive anything, so there is nothing to account for. So month one is:

    Income: £0

    Month two income: £50 (assuming is 10% of the rent, i.e. a 90% discount)
    I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.

    That also means I cannot share in any profits from any decisions made!

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