what is the difference between a rental property and one that is not a rental property...

what is the difference between a rental property and one that is not a rental property (used for personal purposes)?

Expert Solution

Ans; Difference between rental property and not a rental property is that, in rental property homes that are purchased by an investor and tenants on lease or on rental agreement ,The owner of rental property may be allowed to take certain tax deductions such as mortgage interest and depreciation.

IN non rental property or property that is used for personal property defines that person residing is the sole owner of the house and he has not to pay an amount of tax or rent to any body. it is also a movable property .

it can include any asset other than real estate . in other words it may be taken into consideration by a lender when someone applies for a mortgage or other loan

ekkarill92 answered 2 years ago

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