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Level 5
December 5, 2022
Solved

Help determining date rental is considered placed in service

  • December 5, 2022
  • 10 replies
  • 95 views

I am trying to determine the date to use for when our rental was first placed in service. I first advertised the house for rent on April 04.15.22 by taking a flyer about our rental to the city managers office in the small town we live in. There is an extreme shortage of houses to rent here. and I read in the newspaper that several candidate for a new police chief position had dropped out because of this. We were in the process of completing a new home to rent out. Nothing happened because of the flyer. Due to health issues from a car accident we did not have the final inspections completed until July 13th. The date of "Residential Certificate of Occupancy" is dated effective 08.21.22.  We have a signed rental contract dated 07.15.22. I would appreciate any help in determining the right date to use for when the house was first placed in service.

Best answer by Anonymous_

It is generally the date you make the property available for rental use.

10 replies

Level 15
December 5, 2022

It is generally the date you make the property available for rental use.

Level 5
December 5, 2022

I am still a bit confused, would that be the date I took the flyer to city hall offering to rent it?  

Thanks for your help!

Carl
Level 11
Level 11
December 5, 2022

Typically, it's the date you put the FOR RENT sign in the front yard, which is usually the day a renter "could" have moved in.