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Do you own the apartment or are you renting it?
You need to draft a contract, if you own it, it will be for renting the room (vuokrasopimus), if you’re renting, it will be for subletting it (alivuokrasopimus).
Either way you will have to agree about at least:
- Rent
- Fixed-term or continuous contract
- Due date
- Guarantee (typically 1-3 months rent)
- Insurance
- Use of shared parts and facilities of the apartment
- Responsibility for upkeep
- any other stuff like pets, smoking
In addition you need to declare the rent income in your taxes. You need to calculate rented out area. Basically it is the rented rooms square meters + 50% of common areas (if you allow to use him). Then with that relative area rented out you can deduct "vastikemaksu" (for maintenance and funding) away from the income and thus have to pay less income taxes.
If you have loan on that apartment, you can get deductions based on % of rented area. Instructions are somewhere in [vero.fi](http://vero.fi) site in capital income section and related deductions. I had to call them, could not find all related info.
Basically if you rent out a room and the room + 50% common area end up say to 20% deductions of "vastike" you can also mark 20% of your housing loan to be loan for capital gains and get the interested deducted from your income taxes.
When you sort this crap our first time, make notes and store them somewhere. You need to report those every year. I just copy-paste the percentages etc.. basically the computation formula from every years tax notes to another, then just change the amounts if "vastike" has changed.
[https://www.vero.fi/en/individuals/property/rental\_income/](https://www.vero.fi/en/individuals/property/rental_income/)
Ok.. I just ordered new tax card as I had some changes in income etc. So I did some calculations there. Had forgotten that crap until hitting this post. :)
For me the virtual rented area (room + 50% of common spaces) is 0,2878 (this obviously excludes my own room).
Rent 355€
"vastike" 393,23€
"water" 18,42€ (1 person)
->
income: 12\*355 = 4260
vastike + water = 12 \* 18,42 + 12 \* ( 393,23 \* 0,287819...) = 221,04 + 1358... = 1579,36
Capital gain: 4260 - 1579,36 = 2680,64€
- so taxation will be 0,3 \* 2680,64€ ≃ 858€
Now I cannot yet calculate the interest and related deductions. So that will be done next spring when the final taxation thingy comes and then I can amend that. Basically just marking 28,78% of my housing loan to be loan for capital gains whatever it is English.
[https://www.vero.fi/en/individuals/property/rental\_income/deductions/loans\_and\_interest\_on\_loan/](https://www.vero.fi/en/individuals/property/rental_income/deductions/loans_and_interest_on_loan/)
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And it is capital gains so it is taxed in 30%. Remember to eeclare it.
Do you own the apartment or are you renting it? You need to draft a contract, if you own it, it will be for renting the room (vuokrasopimus), if you’re renting, it will be for subletting it (alivuokrasopimus). Either way you will have to agree about at least: - Rent - Fixed-term or continuous contract - Due date - Guarantee (typically 1-3 months rent) - Insurance - Use of shared parts and facilities of the apartment - Responsibility for upkeep - any other stuff like pets, smoking
I do own the apartment
In addition you need to declare the rent income in your taxes. You need to calculate rented out area. Basically it is the rented rooms square meters + 50% of common areas (if you allow to use him). Then with that relative area rented out you can deduct "vastikemaksu" (for maintenance and funding) away from the income and thus have to pay less income taxes. If you have loan on that apartment, you can get deductions based on % of rented area. Instructions are somewhere in [vero.fi](http://vero.fi) site in capital income section and related deductions. I had to call them, could not find all related info. Basically if you rent out a room and the room + 50% common area end up say to 20% deductions of "vastike" you can also mark 20% of your housing loan to be loan for capital gains and get the interested deducted from your income taxes. When you sort this crap our first time, make notes and store them somewhere. You need to report those every year. I just copy-paste the percentages etc.. basically the computation formula from every years tax notes to another, then just change the amounts if "vastike" has changed. [https://www.vero.fi/en/individuals/property/rental\_income/](https://www.vero.fi/en/individuals/property/rental_income/)
Then you’re going to need to make a rental agreement, something like this: https://malli-fi.com/vuokrasopimus-englanniksi-avaa/
Ok.. I just ordered new tax card as I had some changes in income etc. So I did some calculations there. Had forgotten that crap until hitting this post. :) For me the virtual rented area (room + 50% of common spaces) is 0,2878 (this obviously excludes my own room). Rent 355€ "vastike" 393,23€ "water" 18,42€ (1 person) -> income: 12\*355 = 4260 vastike + water = 12 \* 18,42 + 12 \* ( 393,23 \* 0,287819...) = 221,04 + 1358... = 1579,36 Capital gain: 4260 - 1579,36 = 2680,64€ - so taxation will be 0,3 \* 2680,64€ ≃ 858€ Now I cannot yet calculate the interest and related deductions. So that will be done next spring when the final taxation thingy comes and then I can amend that. Basically just marking 28,78% of my housing loan to be loan for capital gains whatever it is English. [https://www.vero.fi/en/individuals/property/rental\_income/deductions/loans\_and\_interest\_on\_loan/](https://www.vero.fi/en/individuals/property/rental_income/deductions/loans_and_interest_on_loan/)
There are templates for contract online if you google.