The 'Fiscal Simplifications' decree (d.l. 73/2022) introduced some interesting changes of a fiscal nature affecting the real estate sector.
Among these, it is worth mentioning Article 7 of the decree, which lays down provisions on the so-called ‘certification', i.e. the certificate of adequacy of the rent in subsidised leases (3+2).
The tax simplification decree must be converted into law by 20 August 2022.
Pending its conversion into law, let us see what changes have been made in this area.
AGREED RENTAL LEASES
Article 2, paragraph 3, of Law 431/1998 (Rules governing leases and the release of property for residential use) allows the parties to stipulate, as an alternative to free-rent leases (4+4), different lease agreements, provided they last no less than 3 years and are renewable for another 2 years, defining the value of the rent (and other contractual conditions) on the basis of what is established in specific agreements defined at local level between the most representative property ownership organisations and tenant organisations.
This is why we speak of 'concerted rent'.
These agreements must be drawn up in compliance with the criteria indicated in Interministerial Decree No. 15 of 16 January 2017; they are filed with each municipality in the relevant territorial area by the signatory organisations.
For the territory of the municipality of Roma Capitale, the latest agreement was signed on 27 February 2019.
The full consultation of the document is available at the institutional link of the Municipality of Rome:
The agreement regulates, in particular, the following aspects:
a) criteria for calculating the conventional surface area in subsidised contracts;
b) criteria for the calculation of the conventional area in ordinary transitional contracts;
c) determination of the maximum rent for social housing (supplementary agreements);
d) regulation of ancillary charges (as per the tables annexed to the agreement);
e) procedures for renewing and updating the agreement.
THE NON-ASSISTED LEASE
When the subsidised tenancy agreement is not drawn up by the trade associations mentioned above, it is referred to as an 'unassisted' tenancy.
This means that the agreement is drawn up independently by the parties, with the possible assistance of professionals in the sector (real estate brokers, lawyers, etc.).
In such a case, in order to be able to benefit from the tax benefits associated with the agreed lease, the contract must be accompanied by a certificate of compliance that ascertains the congruity in economic terms (amount of the rent) and in regulatory terms of the contract with the agreement signed by the professional associations.
THE NOVELTY INTRODUCED BY THE TAX SIMPLIFICATION DECREE
In the legislation prior to the decree on tax simplifications, the certificate of compliance had to be issued each time a new lease was entered into concerning a property located in the areas covered by the territorial agreement. Article 7 of Law Decree 73/2022 eliminated the need to renew the certificate of compliance already issued for a given property, provided that the property has not, in the meantime, undergone any changes and there have been no changes in the territorial agreements.
The decree extended, in essence, the validity of the certification by simplifying bureaucratic procedures.
The new legislation applies not only to subsidised rental contracts, but also to transitional rental contracts and those for university students.
It will be the responsibility of the Revenue Agency to clarify which changes to the characteristics of the property are such as to require the issue of a new certificate of compliance.