Is Rental Income Subject To Zakat?

Is rental income subject to zakat?

Those who are in possession of at least 80.18 gr gold or money or property of the same value except one year’s debt and essential needs expenses are considered as rich in religious terms. Excluding debts and basic needs, if rental income reaches to nisab amount (80.18 gr gold or equivalent value) it will be subject to zakat together with other wealth after the passage of one year over them, and zakat must be given at the rate of 1/40 (2,5%) (Marghinani, al-Hidayah, II, 165, 190-191).

Source: Presidency Of Religious Affairs The Turkey, High Board of Religious Affairs FATWA