What is residential rental property
What is Residential Rental Property? Residential rental property is any residential property in which money is exchanged, meaning the dwelling unit is leased or otherwise rented to tenants solely for residential purposes. Examples include, but are not limited to, an apartment, single family home or
multi-family units. The exceptions are a hotel or a college or university dormitory.
All real property parcels on which at least one residential living unit is leased or rented as described above are considered residential rental property, regardless of other improvements that are located on the parcel. For instance, a parcel improved with a street-level retail store and two second floor apartments that are leased to residential tenants is residential rental property even though the parcel may be classified as commercial for real property tax purposes.
Who must file?
Ohio Revised Code Section (O.R.C.) 5323.02 requires an owner of residential rental property to file certain information with the county auditor in which the property is located. If the residential rental property is owned by multiple individual owners, only one of them is required to file as the contact person. If the property is owned by a business entity, one of the following must register the property as the contact person:
- A trustee, in the case of a trust or business trust;
- The executor or administrator, in the case of an estate;
- A general partner, in the case of a partnership or a limited partnership;
- A member, manager, or officer, in the case of a limited liability company;
- An officer, in the case of a corporation;
- A member, manager, or officer in the case of any other business entity
What information must be filed?
- In the case of an individual owner: the name, address, and phone number of the owner.
- In the case of multiple individual owners: the name, address and phone number of the owner who is filing as the contact person.
- In the case of an owner other than an individual or individuals: the name, address and phone number of the individual who is filing as the contact person.
- The street address and parcel number of the residential rental property.
**NOTE: An owner of residential rental property who resides outside of the state of Ohio must designate an individual who resides in the state to serve as the contact person.
when must information be filed?
An owner must file the required information with the county auditor within 60 days following notification when the property transfers or when the property tax bill received, or after any change in the information occurs.
Failure to comply with the initial filing or updating of the information is considered a violation of the law, and each property is then subject to fines of $150 per tax year.
If you have any questions, please contact:
Franklin County Auditor’s Office at 614-525-4663 (HOME) or
e-mail at AuditorStinziano@franklincountyohio.gov.
Non-compliance for rental registration occurs when the property is being rented or used for a purpose that qualifies as a rental exception, but has not filed a rental registration or rental exception with the Auditor's office.
If you are a homeowner who no longer qualifies for the owner-occupied credit, or if you know of, or suspect, an occurrence of an owner-occupied credit being claimed on a property that the owner is not entitled to, or a property that is being used as a rental but is not registered as such, we urge you to make a report to our office by completing the form provided. Alternately, you may contact the Franklin County Auditor's Office at 614-525-3240 or e-mail us at firstname.lastname@example.org.