@Carl your replies to this thread have been so informative, thank you for sharing your knowledge!
I had a question about the scenario of adding a room down the line that you brought up in this post. I went through all the possible scenarios with my 3 bedroom home/rental in 2022.
1. First year rented
2. Rented out bedroom 1 in a 3 bedroom house from Jan-dec (full year)
3. Rented out bedroom 2 from july-dec (6 months)
4. I lived in bedroom 3 (master) for 11 months (jan-nov), then moved out and started renting the 3rd bedroom in Decmeber of 2022. So the whole property was rented by Dec 1,2022 to 3 separate tenants.
I noticed you mentioned that common areas can’t be used in calculating the % of rented space since it has to be exclusively used by the renter. My question is should/how would I restructure the % of rental space of each “asset” after moving out myself to incorporate common spaces shared by all 3 tenants?
