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R
rita-mikhal
April 10, 2025
Question

How do you calculate "Fair Market Value" of your rental asset when renting just a room in your house?

  • April 10, 2025
  • 1 reply
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I rent out 30% of my house. Do I take 30% of the total house value for the "fair market value" of my rental property?

    1 reply

    PatriciaV
    PatriciaV
    April 10, 2025

    Yes, if you rent out 30% of the square footage of your home, the fair market value of that portion is 30% of the assessed value of the entire home.

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