In the midst of the crisis due to the coronavirus emergency, it is possible to find yourself in difficulty. It may therefore happen that tenants and owners reach an agreement to lower the rent in this particular period. Let's see how to do it.
Given the coronavirus emergency, to lower the rent, whether for a residential or commercial property, tenant and owner can reach an agreement and exchange a private agreement which modifies the existing rental contract. This writing is effective immediately, the registration of the deed can take place at a later time.
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In fact, it is recalled that, with circular no. 8/E of 3 April 2020, regarding the 'suspension of payments of the registration tax when registering a loan or rental contract', the Revenue Agency explained: 'It should be noted that following the entry into force of article 62, paragraph 1, of the Decree 'tax obligations other than payments and other than withholdings and withholdings relating to the regional and municipal surtax are suspended, which expire in the period between 8 March 2020 and 31 May 2020'. Therefore, if the deadline for registering falls between the dates indicated, the taxpayer can benefit from the suspension of the deadlines, with the right to carry out the fulfilment by June 30, 2020. Given that on the basis of article 16 of the Consolidated Registration Tax (TUR) approved by decree of the President of the Republic of 26 April 1986, n. 131, the payment of the tax by the Office is subordinated to the request for registration. If the taxpayer takes advantage of the suspension and does not request registration, the related obligation to pay does not arise either. Consistently, it must be considered that if the taxpayer also makes use of the suspension for the registration of property rental contracts, he is not required to pay the related tax. If the taxpayer, despite the benefit of the suspension, requests registration of the contracts, the relevant payment of the tax remains due. The taxpayer is also required to make the payments of the subsequent installments of the registration tax due for the rental contracts already registered.
So how does the agreement between tenant and owner to lower the rent work? The agreement must refer to the existing contract, must contain the details of the landlord and tenant, the annual rent established in principle, the reduced amount resulting from the agreement, the period during which the tenant will pay a reduced amount, date and signature. The written agreement can be exchanged via email.
This agreement is immediately effective between the parties. There registration can be done later by filling in the 'Form 69', which can be downloaded from the Revenue Agency website, with the rental contract data and the registration codes indicated in the 'Rli' form. Once the coronavirus emergency is over, attaching the agreement will have to send everything to the office where the registration was originally made.
But it is good to remember that to lower the rent it is necessary to reach an agreement. There is no law that provides for rent reduction. In the event that 'the tenant is no longer in a position to pay the rent having lost his income, he can give notice for just cause', however the payment of the notice is due. As regards taxes due on rental income, in the event of a reduction in the rent it is necessary to communicate the new amount.
Grimaldi Padua
Padua - 35137 - Via G. Matteotti, 27
e-mail: padovacentro@grimaldifranchising.it
Tel. +39 49 663 033 - VAT number 05301660287
Grimaldi Cadoneghe
Cadoneghe (PD) - 35010 - Via G. Franco, 2/A
e-mail: cadoneghe@grimaldifranchising.it
tel. +39 049 88 736 56 - VAT number 05322440289