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Originally Posted by
artemis
Certainly, quite common with trusts and companies owning houses. And with family buying and renting to other family - also common. In those cases, the tenant can effectively be the owner as the property will eventually pass by sale, gift or inheritance. Not exactly what your question was, but more likely than personal ownership renting to the owner.
There are tax implications. If expenses are claimed against rent, IRD require market rent to be either paid or deemed to be paid. If that doesn't happen, IRD will consider it tax evasion.
I rent a property to family, and make sure the rent is within the range on the Tenancy Services site market rent page.
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