Build to Rent Exemption

The Bill proposes an exemption from the interest deduction limitation in relation to Built to Rent Assets (BTRA). This will allow the investor to claim interest deductions in relation to BTRA loans indefinitely as long as the following qualifying criteria are met in relation to a development:

• The development is owned by the same person and it has 20 or more dwellings
• Each dwelling has a tenancy to which the Residential Tenancies Act  1986 applies
• Every tenancy has the option of a 10 year term, and provides the tenant with the ability to give a 56 day notice of termination
• Every tenancy includes a personalisation policy, and
• At no time after it meets the the above criteria fails to meet those requirements