An individual owns a house (with a mortgage) they lived in the house as their main residence. They wish to start a property renting business by renting the house to tenants.
In order to start this property renting business they need to vacate the property and therefore rent a flat for themselves to live in.
Would the monthly rental payment they make for the flat be considered a deductible expense against the income from renting out the house? I'm guessing not - but in light of the changes around mortgages on rented properties - I wonder if this is a legitimate way of looking at things?
Looking forward to your replies
Thank you very much in advance.Kind regards
David
