I'm currently renting a 2/2 apartment in the US that is managed by a REIT (NYSE:MAA). I set it up in which I am the sole responsible lease holder and have added a roommate to the lease as an occupant (not responsible for the rent). However, I am collecting rent from this roommate to make the rent payments. The office staff here is aware of it as they made note that if they don't make the rent, I am solely liable. I'm aware of this and comfortable with it. I don't expect any problems from the management company.

The question I have is, what (if any) are the tax implications of my receiving money in the form of monthly rent transferred to my checking account to then be paid to the apartment management company in the form of EFT?

If this money needs be declared as some form of income, what would be the best way to do so, and through what means should I be keeping records?

Thank you for any insight.

1 Answer 1


If your landlord is OK with you subletting your apartment - then that's all that the landlord has to do with that. It doesn't really matter if the landlord is a private person or a publicly trade corporation/fund. No relevance at all.

As to your own reporting - you're receiving rent. That is income to you. You can deduct the portion of your expenses (including rent) attributable to the area you rent out. All this goes to your Schedule E. Any positive remainder becomes your taxable income. Any deduction must be substantiated (i.e.: you'll have to keep all the receipts for all the expenses you used for the deduction for as long as the tax year is open, which is at least the next 3 years after filing).

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    OP is not subletting the entire apartment, this is a roommate. I don't think that income taxes are charged in these cases in the US. Sep 17, 2018 at 15:23

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