Normal Wear and Tear

What is Normal Wear and Tear?

Landlords will often withhold a portion of a tenant’s security deposit for cleaning and repairs. However, any costs attributed to normal wear and tear are not supposed to be deducted. In order to prevent yourself from being subjected to unnecessary scrutiny and legal claims, here are some examples of normal wear and tear: • Running […]

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Biggest Mistake by Landlord

Biggest Mistake Made by Landlords

One of Many: As with any business, there are going to be mistakes. But there’s one mistake in particular that landlords (especially those that are new) will make when managing rental property. A successful rental property business rests on one essential component (other than the property itself), the tenant. While it seems obvious, many do […]

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Raising Rent

How to Raise a Tenant’s Rent

Limitless: Unless your rental property is in one of a few rent controlled areas, there is no limit as to how much you may charge. However, the timing of the increase and how its done are governed by laws in most states. Retaliation and Discrimination: As we begin, It’s important to emphasize that despite there […]

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Showing Occupied Rental Property

Showing a Rental Property when it’s Occupied

So your tenants are moving out next month… Although many would agree it’s much easier to wait for the unit to be vacant, most states allow a landlord to show a habited rental if the tenant is given advance notice to enter. Is the rush necessary? It’s generally in the landlord’s best interest to inspect […]

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Top 10 Tips for Property Management

Top 10 Tips for Property Management

Screen Your Tenants: This is the most important step when managing rental property. A good tenant can make your landlord experience a dream come true, while a bad tenant can turn it into a nightmare. A service such as AmerUSA.com can assist in helping you obtain credit reports, criminal records, and eviction records in addition […]

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Depreciating Rental Property

Depreciating Rental Property on a Tax Return

The IRS allows Landlords to deduct the original cost of rental property from their taxable income by depreciating it over 27.5 years. However, the land must be excluded… Excluding the Land: Only the dwelling or structure can be depreciated. Since the land never gets used up or worn out, you cannot deduct the portion of […]

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Deduct Rental Property Interest

Deducting Interest on Rental Property

The IRS allows landlords to borrow money for their rental property business and then deduct any interest that may be charged by the lender as it’s paid back. It is important to note that the principal portion is not permitted as a deduction. The IRS only allows the principal amount (of newly purchased property and […]

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