I refinanced my rental property at a separate location of my personal residence, how do I determine the percentage of rental use?

[PatriciaV · Accepted solution]

If the property is used only as a rental and has never been your personal residence, rental use percentage would be 100%.

If, however, the rental use varied while you owned the property, you will need to calculate the rental use percentage. The easiest method is to count the number of months the property was not used as a rental and subtract that number from the total number of months you used the property. Then divide the remainder by the total to determine the rental use percentage.

For example:

• Property owed for five years (60 months)
• Owner-occupied for 10 months
• Months used as a rental = 60 - 10 = 50
• Percentage rental use = 50 / 60 = 83%