Show Rent Most Asked Interpretations on rent regulations were the most frequently asked questions at IRS Information Centers during the first week of the current economic control according to Roland V. district of the Utah Internal Revenue THE DIRECTOR explained that basically the rent guidelines have not changed since the initial freeze Rents are generally still rl several ex- from the rent freeze have been granted by the Price They include farm and nonresidential commercial erty which is used for manufacturing or similar ALSO exempted are those rental Including residential houses and which construction was completed after August This exemption does not apply unless the unit was first offered for rent after August Rent exemptions have also been granted to rehabilitated rental THIS means that the cost of repair must equal or exceed one-third of the total value of the or exceed one-third of the total value of the this is limited to property for rent for the first time after August Another exemption from basic freeze guidelines concerns what is commonly called the percent This means that if at least ten percent of the landlord's apartments similar to yours were being rented for a higher price during the period from July 16 to August your landlord may raise your rent to that level if your lease permits the LANDLORDS should remember that increase in rent above the permitted base price are prohibited unless provisions of the ten percent rule or rehabilitation rule are or a change in guidelines is recommended by the Rent Committee and approved by the Price Freeze regulations require landlords to keep certain These records must show the base price for the unit meaning the dollar amount charged for at least ten percent of the units during the freeze base and the reason for any difference between the base price and the maximum price the landlord was allowed to charge during the landlords are required to make such records available at the request of any prospective tenant or an agent of the Internal Revenue WISE reminded the public that questions on the current period of economic control can be answered by calling their nearest office of the Internal Revenue |