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Is it possible to lease a newly constructed property without obtaining an Occupancy Certificate (OC)?

Newly constructed property without obtaining an Occupancy Certificate (OC): Renting out a newly built or substantially renovated premises without an occupancy certificate (OC) is generally not permissible. For a property, whether residential or commercial, to be considered ready for use or rental, it must be “lawfully able to be occupied.” This legal occupancy typically is confirmed when an occupancy certificate or a similar approval from the local council is issued.

While there might be brief periods when a property is not available for lease due to minor maintenance or repairs, the fundamental requirement is that the premises must meet all legal and safety standards to be occupied. If a council, relevant authority, or qualified professional deems the property unsafe, it cannot be occupied or rented out.

It’s important to note that the property must adhere to these occupancy standards at all times, whether it’s being leased, hired, licensed, or made available for such arrangements. Compliance with these regulations ensures that the property owner can legally rent out the premises and potentially qualify for certain tax deductions related to the property.