Rental and other related income is the full amount of rent and associated payments that you receive, or become entitled to, when you rent out your property. You must include the full amount you earn (gross rent) in your tax return.

income received from rental properties

The net income (actual rentals less operating expenses), up to 50% of the gross income, may be added to a borrowers income. If operating statements for the property are not available, expenses may be estimated to be 50% of gross rentals. Note: Payments on mortgages or other debts related to the properties are not part of the operating expenses. If the property being purchased is intended to be used solely for rental, net income from it may be added to the borrower's income, in accordance with the above, if there is reasonable expectation that the income will continue.