Investment Guide

Real estate capital income is the amount of rent collected in cash or in kind within a calendar year from the leasing of goods and rights, whether relating to that year or to earlier years. Rents collected in kind are converted into money at the equivalent value. Rents collected in advance that relate to future years are counted as the income of the years to which they relate. In the case of death or of leaving the country, rents collected in advance for the periods following the date on which tax liability ended are treated as the revenue of the period in which the liability ended.

Assets that the tenant adds to the property in a way that permanently increases or expands its economic value are transferred to the landlord free of charge at the end of the lease term (if they are transferred for less than their equivalent value, the difference is treated as a free transfer), and from the landlord's point of view these assets are deemed to have been collected in kind on that date. The money received by the owner under the name of expenses such as elevators, heating, maintenance, water and lighting, is part of the gross revenue and is considered as income for the owner. Because these are the expense to be deducted from the revenue for the lessor.

Last reviewed: September 2026