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 […]
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 […]
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 […]
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 […]
Individual owners of residential rental property often pay more in taxes than what’s required of them. Fortunately, rental property offers more tax saving benefits than many other types of investments. The following is a list of the top ten most common expenses for rental property tax deductions: Repairs/Maintenance: Repairs including painting, fixing floors, patching leaks, […]
Unfortunately, there are many reasons a landlord can be dragged into a civil (or even bankruptcy) court, so here are some suggestions that may help reduce your liability to avoid financial penalties. Develop a Written Inspection List: A well-constructed list can help you eliminate any problems before the tenant moves in. So list the important […]
Landlords are permitted to access their investment property while its occupied by a tenant as long as it’s under certain conditions and notification requirements. Watch the video to learn how much notice must be given to the tenant and what type of reason landlords must have to be permissible under their respective state’s laws.