Thanks for the info, but does FMV have a a range... If that reference is that strict, I should have been raising his rent every week regardless of the lease or its becomes personal use. Also, when I read the reference you sited is talks about the FMV at the time the lease is initiated. So this tells me I don't need to adjust the rent until the lease is up and when I renew the lease it needs to be adjusted to fair markety value at that time. Am I reading this corectly? The FMV is preserved until the lease expires? Thanks in advance 🙂
